Retirement Planning - Lessons Learned

[Frankenkubota]

They have it figured out.

Many still want to come here, unless they are rich. I've got many many friends in Europe and the 2 things they pine for are....

Mini vans (trucks, suvs, huge vehicles) and home ownership.

Lots of renters in Europe.

 

[ultrarunner]

That’s why property tends to stay in family for generations.

None of the kids of friends or friends that visited from Austria would trade their time here but even those here for a year as students all returned home with no desire to settle here.

When asked they all said career and raising a family is much harder in America.

 

[MoKelly]

None of the kids of friends or friends that visited from Austria would trade their time here but even those here for a year as students all returned home with no desire to settle here.

When asked they all said career and raising a family is much harder in America.

That is quite interesting.

Is it because competition in US is harder for them than back in Austria?

MoKelly

 

[MoKelly]

If that's the case then why do we have millions a year invading our borders trying to live here legally and mostly illegally..

I believe the folks from Austria were here to go to college. After college - with a degree - they went back home to work v work here in a professional capacity.

The folks you mention are not as fortunate. They come and do manual labor.

Not the same.

MoKelly

 

[two_bit_score]

Many still want to come here, unless they are rich. I've got many many friends in Europe and the 2 things they pine for are....

Mini vans (trucks, suvs, huge vehicles) and home ownership.

Lots of renters in Europe.

You might have missed my point. Not arguing that American system overall isn't better so that people want to come here or not, at least for right now anyway.

Their way of distributing property by heirship is one which encourages families to hold onto family assets. To me that is good. We have property that has been in our family for generations and it's a good thing.

I looked at a listing today on 10 ac and an old home which as been owned by members of one family since 1917 and it just went on the market. I may try to buy it. But, it's a shame (to me anyway) that finally they have come to the point of needing to sell it.

 

[two_bit_score]

That’s why property tends to stay in family for generations.

None of the kids of friends or friends that visited from Austria would trade their time here but even those here for a year as students all returned home with no desire to settle here.

When asked they all said career and raising a family is much harder in America.

Very similar to the experiences we have observed with exchange students. MIL hosted several over the years and two specifically, one from Sweden and one from Germany, loved being here but both said they would not like living here.

 

[JethroB]

A neighbor who leased out his farmland specified in his will that a descendants trust be set up upon his death. His children are income beneficiaries only until they all pass. Then the grandkids truly inherit the land to do as they please. It was his simple and inexpensive way of keeping the farm intact for at least one generation. It didn’t even require a lawyer to set up the trust. Executor just got a federal tax ID online and and had the land deeded into the trust. Several others nearby have done the same.

 

[Frankenkubota]

Very similar to the experiences we have observed with exchange students. MIL hosted several over the years and two specifically, one from Sweden and one from Germany, loved being here but both said they would not like living here.

Germany and Sweden? 2 of the highest standards of living in the world. Exchange students?

Ask a working stiff in Romania who has zero chance of ever owning land if he wants to move here.

Seems to me, a lot of folks here think Europe is a panacea but....it ain't! But as usual, each to his own.

 

[ultrarunner]

About a half dozen AuPairs in my mix...

young 18-20 year old German speaking young ladies with 1 year legal visa and health insurance...

5 had a wonderful time and in touch with host families and two host families invited to weddings...

One only here for a couple of weeks to New York... her family said it was overwhelming and she was back home.

From all the young ladies it was similar... U.S.A. great to be young and single... not so good to raise a family.

In Austria it is 2 years off with employer holding your job per newborn up to 3 consecutive times so being off 6 years with pay and job waiting is one huge perk... the 43 days vacation another and full coverage medically necessary* Health Insurance another...

Each town has a retirement home with assisted living,,, many seniors want to go because they are among friends and church daily.

In total I’ve spent 2+ years in German speaking countries and the stress level and saving for retirement and healthcare issues not on radar... maybe it is the free beer employers like BMW provide line workers at meal time?

Material goods distribution way less than America and cost often much higher even for things made in Europe.

Then there is fantastic Health Care but for elderly not so good but improving...

My nurse/doctor friends said it would not be possible for a 98 year old to have hip or knee replacement like in the states...

Dental is odd too... you accept what is provided and Dentist can’t accept cash pay for items not deemed medically necessary in country but the work around is Germans travel across border to Austrian Dentist and Austrians to German Dentists and cash pay for things like implants.

In my circle the only ones staying is a Swiss Couple with a business but after 15 years thinking of going back.

 

[arto98607]

Good friend of mine who grew up in Northern Europe moved to Western Canada back in early 70's and after that moved back and forth twice, finally settling in Western Canada for good.

According to him the biggest reason moving back to this continent was the rationed health care for older folks like him in Northern Europe!

 

[ultrarunner]

If you are young or not yet born or in your productive years the healthcare is quite good in German speaking countries...



The downside is many things are hard to come by or withheld from elderly often

Each child goes home with a baby vaccination/well baby book. When the mother completes all vaccines and visit of the child a cash payment is made to the mother... 1,000-1500

 

[JethroB]

I spent a week once hanging around a hospital in Bellingham WA when my dad got pulled off an Alaskan cruise ship due to severe illnesses. It was interesting that some of the hospital staff were Canadian as well as a good number of the patients. Story was that Canadians who could afford it came across the nearby border for quicker or elective treatments. Highlight was getting us back home once dad had recovered a bit, a med-flight Learjet. Sure beat the Delta flight going up.

 

[arto98607]

It's a fact of life there is a 6 month wait in many Canadian Provinces for major medical operation, but what my friend was saying in Canada the wait is the same for everyone regardless of age, unlike in many European countries!

 

[Larry Caldwell]

It's a fact of life there is a 6 month wait in many Canadian Provinces for major medical operation, but what my friend was saying in Canada the wait is the same for everyone regardless of age, unlike in many European countries!

In my area, just getting an appointment with a specialist takes 3 months. After that, it can take anywhere from 2 weeks to three months to get a procedure scheduled, depending on if you are about to die. My brother in Texas just died of a surgery they put off for months. I think if it's serious they wait for you to die first so it doesn't mess with their success rate. From first symptoms to surgery it was over a year. Hmm, strange blood test. Hmm. Xrays don't show anything, do the blood tests again. Hmm. Maybe ultrasound? Hmm, better refer this to a specialist. Hmm. No, different specialist. Hmm, you're still alive? The surgery failed. Maybe if we had caught it earlier...

The US medical system is seriously screwed up.

 

[dmccarty]

Back in the 90's I was on a mailing list, where one of the members was in Canada. His job was working with the CA health system to get care for people in a timely manner. Good thing that was his job because he had a very serious health issue that required surgery NOW or he would likely die. The surgery was scheduled for many months in the future, by which time he would likely be dead. However, since he knew how the system worked, that was his job, he was able to get the schedule changed.

In Ireland, scheduling surgery is a real mess. Before the pandemic ,wait times for surgery were 12-18 months. Some of the estimates now are stretching out to two years because of the pandemic.

Later,
Dan

 

[ultrarunner]

Working in a surgical unit we have had cases same day or day before... typically about 2 weeks...

 

[KennyG]

I think we still have good access for critical care in our area. People I know who have needed care for newly discovered dangerous conditions get very quick treatment. For non-emergency situations we are seeing quite a backlog. If you want a routine physical, a look at a non-life threatening condition or dental/optical care, be prepared for 1 to 2 month waits. I expect that to become more the case if reimbursement rates continue to squeeze providers.

 

[arto98607]

In my area, just getting an appointment with a specialist takes 3 months. After that, it can take anywhere from 2 weeks to three months to get a procedure scheduled, depending on if you are about to die. My brother in Texas just died of a surgery they put off for months. I think if it's serious they wait for you to die first so it doesn't mess with their success rate. From first symptoms to surgery it was over a year. Hmm, strange blood test. Hmm. Xrays don't show anything, do the blood tests again. Hmm. Maybe ultrasound? Hmm, better refer this to a specialist. Hmm. No, different specialist. Hmm, you're still alive? The surgery failed. Maybe if we had caught it earlier...

The US medical system is seriously screwed up.

Have not checked this thread for awhile!

Sorry to hear about your brother. If you don't mind me asking was or is the waiting due to Medicare?

My experience has been basically no waiting at all, as long as I had good medical insurance (through previous employer), including a major operation about 6 or 7 years ago.


Since Medicare I've had one very minor thumb operation and I did indeed have to wait 2 or 3 weeks, but the service was excellent once it began.
All this was before the current situation.

 

[MoKelly]

In my area, the hospitals are all advertising to “come back” and have all those procedures done that were postponed due to COVID.

Lots if talk about the dangers of not doing preventive care, screenings and cancer tests.

Makes me think the hospitals do not have much of a wait.

MoKelly

 

[ponytug]

Hmmm looks kinda full from here, but that may be me. I guess that perhaps you are farther out; 11 hospitals in or near St. Louis are at more than 90% full in their ICUs, another six are over 80% full, out of 21...
https://data.democratandchronicle.com/covid-19-hospital-capacity/missouri/29/st-louis-county/29189/

Better than Alabama which had no free ICU beds yesterday, in the entire state.

If you need to be in a hospital, you need to be in a hospital, but it isn't a great time to need care.

Stay safe.

All the best,

Peter