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Cliff, our normal expenses are way down since we retired last year. No mortgage, no car payments, no credit card debt. We budgeted for some big ticket items (landscaping, sailboat, travel, new car for my wife) and managed these expenditures to stay within our budget.
You mentioned that your healthcare was covered, but how does your coverage work when you hit 65? Does your insurance co. expect you to have Medicare Part B and your insurance become secondary? However they handle it, you need to look at this closely so you aren't surprised down the road.
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Jim R.
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