I have been trying to help him navigate through this life change and I was
![:mindblown: :mindblown:](./images/smilies/mindblown.gif)
First and foremost it seems that if you have NOTHING you're ok. And if you have a A LOT of money (1M+) you're ok. My dad is somewhere low end when it comes to that... and it presents a HUGE fking issue. Being in the middle is terrible for retirement from what I can tell.
He is 62 years old so social security is a bit early, he will rely on his severance for part of this year and then draw a bit from the 401k. But that completely fucks him...
If you have an "income" above 50k his health insurance costs 1k a month... that's how much he reasonably needs to be ok... around 4-5k a month pre tax... If his income is under 40k his health insurance is $100 a month... so the health insurance basically confines him to below poverty level here... he is completely disincentived to draw from the 401k or face epic taxes + health insurance essentially cutting his 401k value in half.
Obviously more drastic measures are going to be taken within the year, he will likely have to move to another state with a better Tax structure. Do y'all have any recommendations on decent places to retire (Major airports are a must in the vicinity)? And perhaps some tips I can pass along?