Should I retire early or keep working for security?

[Yetanotherscaredamerican]

I’m not sure what to do next with my life. Going to try to hit the bullet points.

• I’m one of the many researchers in the US who have recently been forced out by the Trump administration.
• Ive got a little over 10 years before I can get Medicare, which is health insurance for seniors in the US
• my husband is a high earner and can provide health insurance for both of us through his job
• i am disabled to the extent i need real accommodation to work, but not so far that the government would recognize that I can’t work.
• my husband has been suggesting I just retire for the last couple of years and thinks I should embrace this opportunity
• we have plenty of savings, we don’t need me to work. Aside from health insurance, we don’t even really need Dh’s income, though life would be much more frugal
• my disability means real health needs and expenses.

The only reason for me to work is the what if. What if he has a heart attack? What if he suddenly can’t work? What if his personality radically shifts and he becomes abusive despite never showing any sign.

If I lived in a country with universal healthcare, I would be celebrating my retirement.

As it is, I can’t decide if I should gamble and enjoy my life or work just because I am risk averse.

Oh and for anyone wondering how I would fill my time, I have always been a part-time artist. I have squeezed in my art in stolen moments. I don’t expect to make any money, but I can easily fill my days. I might even be able to bring in enough cash to pay for my supplies and equipment, but that isn’t necessary.

What’s to stop you going back to work if something changes?

Changing tech. It wouldn’t be impossible, but stepping out right now with the AI revolution would make things very difficult.

Your DH could take out life assurance to bridge any gap if he died early.

The issue is not just DH dying but losing his job and hence the health insurance (that comes with the job) for both of them. There is no equivalent of NHS in the US and medical care can be ruinously expensive if one of them requires hospital or expensive medical treatment.

OP, does your disability require constant medication and doctor's visits that rely on your dh's health insurance? How far away is your dh from Medicaid?

Yes, I need expensive medication and regular doctor’s visits.

He is also just over 10 years away from Medicare. While he is not disabled, he suffers from a congenital illness that requires daily medication and medical care.

we have enough money to buy health insurance on the private market, despite it being extremely expensive. I am just afraid the market will disappear. It is already faltering because of a lack of government support. The requirement to sell to everyone is a relatively new requirement.

10 years away from Medicaid is quite a long time. Your Dh is assuming that he will be able to work until then. However at his age, he is at higher risk of being made redundant and then finding it harder to get another job. Many people do not get to retire at the age they plan to as early retirement is forced on them.

What is his ability to find another job if he loses it?

If you had to buy private insurance (assuming it is available), will it cover pre-existing conditions?

You should consider worst case scenario of self-insuring and how long you can afford to do that considering both your ongoing medication and health needs.