I’ve been with the same insurer (Geico) for 20 years. They’ve been great, I’ve got no complaints. I’m wondering, however, about looking elsewhere because I read that it almost always yields savings. What I’m unsure of is which companies may be cheaper, but service or coverage is compromised. Any one that you’d say to avoid or to consider? Thanks!
Curious to hear of others in a situation like mine where they have a sizable (small chub?) retirement, but debt along with it. I intended to pay off our debt before retiring, but have had to adapt and retire at 57.
This meant accepting debt payments over the coming 8 years, unless I pulll it all at once now (HELOC, kids’ college loans, auto loan - about $250k before taxes, interest at 3-7%). Spouse and I have about $3.5M in 401k, $.5M in home equity, $110k in pensions, and very reasonable health insurance coverage. Not SS eligible yet. Just did major household renovations which pulled $120k total from 401 this year.
FA says the numbers “work”, but all I read about is assumptions that include retirees with no debt. My options now are to accept that our debt scenario is different and enjoy the 5 unplanned years added to my retirement - or to get a job for a few years with the purpose of paying off the debt.
Anyone out there who pivoted from plan for debt paydown and instead accept debt payments as part of the retirement plan? Other thoughts on this? It’s a big mental pivot and I feel pretty distracted by it. Maybe I’m just hoping to hear from someone who did it and gives a thumbs up.
Been here 20 years and still haven’t found someone who really gets color. Suggestions?