Are you "lucky"if you have a secure retirement?

[300UGUY]

But then you have to get the highlighter off the computer screen before next months bill comes
Or are you talking "Highly questionable stuff" 300UGUY is getting into on-line?

I would be using this computer out in the snow if I got into that stuff. But I have got some goofy stuff, like having a subscription that was supposed to stop, keep billing us, it was a computer security thingy she bought. And phone calls that are to odd places?

 

[300UGUY]

That's my take on it as well.

I was going to respond, but I don't want to get this thread into politics. Sorry, HS !!

 

[houstonscott]

I was going to respond, but I don't want to get this thread into politics. Sorry, HS !!

You are right, take note though, I only respond to others making political statements, I never start it, I just respond to others who do... HS

 

[doxford jim]

For all the talk on planning and preparation for retirement, it pails in comparison to the effects of health and life's unexpectedl situations.

A friend of mine had a reasonably healthy life through until 69 years of age. He then started to have weird things happening with his blood - along with fatigue and tiredness. It was determined that he had a serious leukemia condition that came on fairly quickly and resulted in chemotherapy being started literally, within days of diagnosis.
Whether he will survive or not remains to be seen.

So, literally overnight, someone becomes seriously ill and faced with large medical expenses. Of course, none of this was predicted or expected and with no hope of a normal sale, his property will most likely be auctioned off for whatever can be raised (I am guessing here as I am not privy to the full details).

Those of us with good health should count ourselves very lucky. No amount of planning and saving can compensate for a situation like that - just my $0.02.

 

[Travelover]

For all the talk on planning and preparation for retirement, it pails in comparison to the effects of health and life's unexpected situations...........

I totally agree and this is why I retired as soon as I could - at age 54. A good friend always talked about the wonderful things he would do in retirement with his wife, but was determined to get his maximum pension. He died at age 63, still working.

 

[RedNeckGeek]

Just think of what would happen if you hadn't planned and saved when you discovered a major health problem. As I understand it, Medicare will only pay 80% of your medical bills, so what happens if you rack up several hundred thousand in surgery and medicine costs? Yep, you're out $20K/$100K of cost. It's bad enough being sick, now you've got to worry about where the money's going to come from to pay your bills. No thanks, I'd rather live modestly and accumulate enough savings to handle even this kind of tragedy.

What I haven't seen, here or anywhere else, is what happens to your personal economic picture AFTER you retire. People used to say that spending 4%/year of your savings was safe, but with record low interest returns and a volatile stock market, now I'm hearing that's not such a good idea. I retired almost five years ago and am so far holding my own, but after inflation I'm actually a tiny bit behind. Where does one go for income these days, besides back to work? Or is that a topic for a separate thread?

 

[riptides]

Just think of what would happen if you hadn't planned and saved when you discovered a major health problem. As I understand it, Medicare will only pay 80% of your medical bills, so what happens if you rack up several hundred thousand in surgery and medicine costs? Yep, you're out $20K/$100K of cost. It's bad enough being sick, now you've got to worry about where the money's going to come from to pay your bills. No thanks, I'd rather live modestly and accumulate enough savings to handle even this kind of tragedy.

What I haven't seen, here or anywhere else, is what happens to your personal economic picture AFTER you retire. People used to say that spending 4%/year of your savings was safe, but with record low interest returns and a volatile stock market, now I'm hearing that's not such a good idea. I retired almost five years ago and am so far holding my own, but after inflation I'm actually a tiny bit behind. Where does one go for income these days, besides back to work? Or is that a topic for a separate thread?

I have had two unfortunate "major health problems" in my family already. Even with good insurance, prior to ACA, and a lucrative savings portfolio, I was unfortunately cleaned out of monies. Since I was and am young, I still have a little time to make it up.

Medical issues are the back-breaker of any plans, prior to, and during retirement.

 

[ovrszd]

Yup but it won't be the way the media will portray it.

Nope.

 

[ovrszd]

Just think of what would happen if you hadn't planned and saved when you discovered a major health problem. As I understand it, Medicare will only pay 80% of your medical bills, so what happens if you rack up several hundred thousand in surgery and medicine costs? Yep, you're out $20K/$100K of cost. It's bad enough being sick, now you've got to worry about where the money's going to come from to pay your bills. No thanks, I'd rather live modestly and accumulate enough savings to handle even this kind of tragedy.

Unless you are one of the multi-millionaires on this thread, a prolonged, serious illness requiring extensive treatment is going to clean you out.

 

[ovrszd]

I have had two unfortunate "major health problems" in my family already. Even with good insurance, prior to ACA, and a lucrative savings portfolio, I was unfortunately cleaned out of monies. Since I was and am young, I still have a little time to make it up.

Medical issues are the back-breaker of any plans, prior to, and during retirement.

Sorry riptides, I should have read down before I responded. You confirm my statement though. Sorry for your bad "luck". So in your case you could truly say luck or bad luck as would have it has a bigger impact on your savings portfolio than all the skill you applied??

 

[murphy1244]

Chemo alone is 25,000 a cycle with 6 cycles per treatment. I know how fast CCL can clean you out. Thank God I had some insurance.

 

[houstonscott]

Is it bad luck to grow old, and get sick? Should everyone have access to the most cutting edge medical treatments regardless of their ability to pay, if so, who should pay the bill they can't? Should the persons you name be forced to pay if they don't want too, and who has the authority to compel them. HS

 

[JDgreen227]

Unless you are one of the multi-millionaires on this thread, a prolonged, serious illness requiring extensive treatment is going to clean you out.

Suppose you are a health fanatic and take best possible care of yourself inclusive of diet, exercise, no bad habits, etc. Yet you still sustain a serious and life threatening illness...now, is that bad luck?

Or suppose you are 300 pounds overweight, never exercise and am a chain smoking, heavy drinking, drug abusing couch potato. Yet you never sustain a serious and life threatening illness...now, is that good luck?

 

[ovrszd]

Suppose you are a health fanatic and take best possible care of yourself inclusive of diet, exercise, no bad habits, etc. Yet you still sustain a serious and life threatening illness...now, is that bad luck?

Or suppose you are 300 pounds overweight, never exercise and am a chain smoking, heavy drinking, drug abusing couch potato. Yet you never sustain a serious and life threatening illness...now, is that good luck?

What would you call it??? It's YOUR thread remember.

 

[KiotiKowboy]

Unfortunately, many simply cannot afford the "best" care. This is just a fact of life.

My gripe isn't that the inability to pay is unfair, it's that the prices for many drugs and procedures are extremely inflated for profit.

Another huge problem is the way medical services are billed. Been to the hospital lately? HOW MANY bills did you receive - from labs and doctors you never heard of? How many caught you by surprise as being out of your insurance network? There should be 2 laws passed immediately. One that mandates a single invoice with all services and costs. Another that states if you enter a hospital in your insurance network, then everything stays within network.

My late wife was hospitalized with cancer and the pile of bills was mind-boggling. I had an overall balance due, after insurance, of more than $100K. Thankfully, my mother-in-law worked filing medical claims. She was able to prove that most of the billing was in error and reduced the balance to around $10K. Now, I ask you .... how many people pay many thousands of dollars without having a clue they are being ripped off?

 

[murphy1244]

Unfortunately, many simply cannot afford the "best" care. This is just a fact of life.

My gripe isn't that the inability to pay is unfair, it's that the prices for many drugs and procedures are extremely inflated for profit.

Another huge problem is the way medical services are billed. Been to the hospital lately? HOW MANY bills did you receive - from labs and doctors you never heard of? How many caught you by surprise as being out of your insurance network? There should be 2 laws passed immediately. One that mandates a single invoice with all services and costs. Another that states if you enter a hospital in your insurance network, then everything stays within network.

My late wife was hospitalized with cancer and the pile of bills was mind-boggling. I had an overall balance due, after insurance, of more than $100K. Thankfully, my mother-in-law worked filing medical claims. She was able to prove that most of the billing was in error and reduced the balance to around $10K. Now, I ask you .... how many people pay many thousands of dollars without having a clue they are being ripped off?

My Bills are always wrong and never in my favor. Glad I had someone that was good at it.

 

[JDgreen227]

What would you call it??? It's YOUR thread remember.

You are off topic for not mentioning the word "luck"in posts 608 & 609 & 614....:laughing:

 

[TomSeller]

I fully understand your book is already written. Understand though it's fiction. HS

Words from a defender of Enron who sees no problem with their business practices...... I knew your views were out there but I thought they were somehow earthbound.

 

[300UGUY]

Unfortunately, many simply cannot afford the "best" care. This is just a fact of life.

My gripe isn't that the inability to pay is unfair, it's that the prices for many drugs and procedures are extremely inflated for profit.

Another huge problem is the way medical services are billed. Been to the hospital lately? HOW MANY bills did you receive - from labs and doctors you never heard of? How many caught you by surprise as being out of your insurance network? There should be 2 laws passed immediately. One that mandates a single invoice with all services and costs. Another that states if you enter a hospital in your insurance network, then everything stays within network.

My late wife was hospitalized with cancer and the pile of bills was mind-boggling. I had an overall balance due, after insurance, of more than $100K. Thankfully, my mother-in-law worked filing medical claims. She was able to prove that most of the billing was in error and reduced the balance to around $10K. Now, I ask you .... how many people pay many thousands of dollars without having a clue they are being ripped off?

I had a bone tumor removed in late 2013. My wife had breast cancer diagnosed a month later. All in, we spent about $14K on out of pocket stuff, and we have excellent insurance. I was paying bills constantly, for services that we knew nothing about. Thankfully, my wife is in remission, and I am ok.

 

[houstonscott]

Words from a defender of Enron who sees no problem with their business practices...... I knew your views were out there but I thought they were somehow earthbound.

I have never defended Enron, I only enlightened you to much more of the story and why many were not paid. That's all. The truth isn't a point of view. HS