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Old 10-26-2009, 10:57 AM
 
Location: Clearwater, FL
10 posts, read 50,710 times
Reputation: 14

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I'm 24 years old right now, and am saving $100 a month for when I retire (I'm a public servant, so I likely don't need to say that I don't make much I work one full time job as a Social Worker to pay my bills, and part-time at Target on the weekends for extra - namely for the 'emergency' fund, and for saving. I don't spend much at all, and have great credit.

What I am most concerned about, is my future health costs. I have had Type 1 Diabetes since birth, and manage it well. But at the same time, I'm not in denial - I understand that even with good management, I will eventually deal with complications.

I do plan on changes happening within a few years that will enable me to save much more, but still will be likely less than $500 a month. I'm unfortunately in the younger age group that will see the Social Security cushion flatten, and am trying to ask my elders what they suggest. I won't be able to retire early, but am also afraid of Diabetic complications affecting my ability to work to support myself.

Please share your thoughts.
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Old 10-26-2009, 11:07 AM
 
Location: Las Vegas
13,888 posts, read 25,323,560 times
Reputation: 26385
The first and best thing you can do is stay in the best health possible and manage your diabetes aggressively. Always be on the lookout for new treatments. Look for yourself, don't leave it up to your docs.

As far as savings go, consistency is the key. Just keep on doing what you are doing. It's not fun and not exciting but it works.
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Old 10-26-2009, 12:27 PM
 
Location: Westchester County, NY
144 posts, read 478,013 times
Reputation: 197
At 24 years old, your practicality and sensibility toward retirement planning is to be commended. Yellowsnow is right. Stay in the best health possible and steadily build your emergency and retirement fund. Good luck to you.
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Old 10-26-2009, 01:29 PM
 
6,253 posts, read 4,731,924 times
Reputation: 12845
Your best strategy would be to work where you have good benefits. Being a "public servant" often qualifies with good medical, good disability insurance, retirement pensions and sometimes healthcare coverage at no or reasonable costs for life. If not, you are still very young and might consider changing employers until you do indeed qualify for great benefits. Trying to save enough to pay for healthcare costs is all but impossible.

Don't be too discouraged about the future of social security and federal healthcare plans. There is a huge and growing voter bloc which will demand these benefits. Many of us have paid very substantial amounts towards these benefits and for other taxes and now we must rely on these resources
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Old 10-27-2009, 04:24 AM
 
Location: North Carolina
531 posts, read 1,805,426 times
Reputation: 302
As you might see in another thread, I've been considering immigrating to Canada. As a retiree, they don't want me. However, YOU might qualify. Then your health-care issues would be solved (well, if you don't mind the cold....!)

Immigrating to Canada
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Old 10-27-2009, 05:02 AM
 
Location: Sunny Florida
7,136 posts, read 11,014,337 times
Reputation: 9460
As someone just about to retire, I think you are on the right track. My DH and I have been saving for retirement for our entire lives. The more you can save now the better your options will be when you retire. The main thing to remember is always save as much as you can. Don't deprive yourself of essentials, but be ever mindful that most of what you want you do not need and you'd be fine without it.
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Old 10-27-2009, 05:21 AM
 
12,700 posts, read 14,077,853 times
Reputation: 34805
You've received a great deal of good advice about saving.

But your retirement is probably almost a half century away, and there is no way that the United State or the world at that point are going to have much in common with the world of today.

As one person pointed out, don't forget to enjoy today while your eye is on the future.
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Old 10-27-2009, 07:00 AM
 
Location: Forests of Maine
30,682 posts, read 49,449,101 times
Reputation: 19134
DJCynic -
I know many diabetics, generally older folks who are having 'complications'.

I am not a organics-nut, and not entirely a herbal-treatments nut either. But I am 'seeing' the failure of our modern medical system. Drug companies with the government and AMA/CDC in their backpocket.

I am increasingly of the opinion that the pills they prescribe will force your body into being addicted to those pills, and will put you into a downward spiral path which you already see laid out before you.

Go to a Naturopathic doctor. Tell them your concerns.

There are herbs that are thought to support and normalize how your body handles insulin.

If there is any hope that you can maintain your health it lays there, and it requires no 'healthcare insurance plan'.
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Old 10-27-2009, 10:29 AM
 
Location: Clearwater, FL
10 posts, read 50,710 times
Reputation: 14
Quote:
Originally Posted by forest beekeeper View Post
DJCynic -
I know many diabetics, generally older folks who are having 'complications'.

I am not a organics-nut, and not entirely a herbal-treatments nut either. But I am 'seeing' the failure of our modern medical system. Drug companies with the government and AMA/CDC in their backpocket.

I am increasingly of the opinion that the pills they prescribe will force your body into being addicted to those pills, and will put you into a downward spiral path which you already see laid out before you.

Go to a Naturopathic doctor. Tell them your concerns.

There are herbs that are thought to support and normalize how your body handles insulin.

If there is any hope that you can maintain your health it lays there, and it requires no 'healthcare insurance plan'.
I'm sure natural medicines are helpful, but I'm not on any kinds of pills whatsoever. Type 1 Diabetes requires insulin injections because the body produces NONE on it's own, and will a person will die within several days without it. Period.

I'm trying to just prepare myself for the future of a Type 1 Diabetic's complications - Which hopefully will not be severe because I manage myself well already, but I'm not going to ignore the reality of it either, and want to be prepared so there are no nasty surprises.


Thanx for the suggestion.
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Old 10-27-2009, 10:54 AM
 
3,647 posts, read 4,756,052 times
Reputation: 5786
Good afternoon. How wonderful that you are thinking ahead! I have a long time friend (25+ years) with Type I diabetes and I'll share what I've learned from her. She is 58 and had three children with no complications. She takes good care of herself. With regard to health insurance, there was a time when her husband could obtain coverage for himself and two children but none for her. (He is a self employed contractor). They paid for the last baby's delivery out of pocket. Currently, they do have insurance coverage for her. Sounds like you're off to a good start. Keep it up!
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