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The actuarial tables indicate that only about one or two percent of people end up getting more out of the insurance than what they pay in. Put a different way, you have about a 98% chance of coming out ahead by NOT keeping such a policy. The other 2% sucks, but I'll take those odds to Vegas anytime.
No kidding...hmm, this is very interesting. Can you point me in the direction of learning more about this? If not, I guess I can google it and search. Thanks for sharing this info.
... The actuarial tables indicate that only about one or two percent of people end up getting more out of the insurance than what they pay in. Put a different way, you have about a 98% chance of coming out ahead by NOT keeping such a policy. The other 2% sucks, but I'll take those odds to Vegas anytime.
The fact that most will never get out what they put into their policy is exactly what keeps insurance companies rolling in profits.
You do not run a gambling casino if your going to pay-out more than you take in.
It is assumed that you are in business to make a profit.
Everyone knows that insurance companies are making a profit from you.
This thread could probably go somewhere else, but I figure frugal people think ahead and might have a plan.
It's great to be frugal, but I am wondering how many of you are set to weather the meltdown. I am not sure when it's coming, but I know it's coming.
I'm asking for your plan as I don't have a plan. My house is paid for and I'm not broke, but I am unemployed and almost 50. I am too young to hope for Medicare and forget any SS retirement benefits. I can't make what I have stretch until I die (hopefully, or I'll be dead sooner than planned). I am dreading working at McDonalds (if I would be lucky enough to get a job there!) or sending out all those resumes that will go unanswered. Right now, the glass is NOT half full. I'm a realist. I see the writing on the wall.
As much as I'd like to believe in an economic recovery, the truth is the great American Empire/Superpower is on its last leg. This country's financial situation is way worse than mine, but as the country goes down the tube so does my life and our lives. Are you prepared? How will you cope? Here's where I think all those nutty survivalists have been right all along.
As a Christian, I have faith in God to get me through any such meltdown or collapse, or any other disaster. I have reasonably planned, keep a month to three months worth of canned food, which I rotate out and use and give to the poor.
If the disaster/meltdown/whatever is so devastating, you will be putting your faith in something or someone or another, whether it be God or other people and their generosity or in your stash/supplies and your own ability to guard them. In other words, most "plans" won't work anyway, you'll be at the mercy of circumstances for the most part.
Location: where the moss is taking over the villages
2,184 posts, read 5,550,483 times
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Quote:
Originally Posted by movin'on
This thread could probably go somewhere else, but I figure frugal people think ahead and might have a plan.
It's great to be frugal, but I am wondering how many of you are set to weather the meltdown. I am not sure when it's coming, but I know it's coming.
I'm asking for your plan as I don't have a plan. My house is paid for and I'm not broke, but I am unemployed and almost 50. I am too young to hope for Medicare and forget any SS retirement benefits. I can't make what I have stretch until I die (hopefully, or I'll be dead sooner than planned). I am dreading working at McDonalds (if I would be lucky enough to get a job there!) or sending out all those resumes that will go unanswered. Right now, the glass is NOT half full. I'm a realist. I see the writing on the wall.
As much as I'd like to believe in an economic recovery, the truth is the great American Empire/Superpower is on its last leg. This country's financial situation is way worse than mine, but as the country goes down the tube so does my life and our lives. Are you prepared? How will you cope? Here's where I think all those nutty survivalists have been right all along.
i've heard that the mormons keep about 5 years worth of food on hand.... hhmmmm.... wish i had.
my personal stuff is paid off but i have thousands on my cc's since i've been unemployed for a year. trying to pay it off on unemployment is the pits but i have to since the cc's learned i'm unemployed & cut my cc limit down.
if you have a job, don't move. suck it up & weather this storm.
Location: where the moss is taking over the villages
2,184 posts, read 5,550,483 times
Reputation: 1270
Quote:
Originally Posted by movin'on
Some would say a revolt is imminent. I don't know if Americans have the stomach for it.
I know something is coming. I don't think being frugal can stop it. Sure, some will have more savings than others, but for MOST, it ain't going to be pretty.
BTW, I do agree with you that without guns it won't make a difference if one has food. BUT if it gets to that point, we're sunk anyway. At any rate, when I think about being frugal I get very conflicted, in that I'd sure hate to spend all this time being frugal only to see I could have lived "the good life" as we're all going to end up in the same pot of slowly boiling water.
think of the south central riots & how that was caused just by the media playing the same thing every day 'round the clock.... think about taking welfare away from such citizenry.... don't flame me about race. i'm not talking about race. i'm talking about a sense of entitlement.
arm yourself while it's legal. you're not sunk if you can protect yourself.
Today, the jobs are going or have gone. We don't make much anymore.
I'm always amazed how many people think that the US does not "make much anymore" as its rather contrary to reality. The US exports just a bit less than China, but instead of making plastic junk the US makes more high tech products/services.
The US has seen a number of financial crises and each time it recovered, this time will be no different.
The "meltdown" already occurred, things are starting to recover now. But regardless, the best investment you can make is in yourself by learning as many skills as possible. That is about the only thing someone can't take from you.
I'm always amazed how many people think that the US does not "make much anymore" as its rather contrary to reality. The US exports just a bit less than China, but instead of making plastic junk the US makes more high tech products/services.
The US has seen a number of financial crises and each time it recovered, this time will be no different.
The "meltdown" already occurred, things are starting to recover now. But regardless, the best investment you can make is in yourself by learning as many skills as possible. That is about the only thing someone can't take from you.
Please list me the products and services US makes.
Please list me the products and services US makes.
The US currently exports approximately 1.4 trillion of products/services and you can't think of anything? The list would be extremely long, but here are some obvious things:
As long as you and other are so bereft of hope and continue to think , and act out, such negative thoughts then they will become a self-fulfilling prophecy.
Be very careful what you wish for.
I actually am more prone to your line of thinking. I don't care what the economy does....somehow I'm going to survive because I will it to be so. I can live with more, I can live with less, but no matter what....I plan to live.
I actually am more prone to your line of thinking. I don't care what the economy does....somehow I'm going to survive because I will it to be so. I can live with more, I can live with less, but no matter what....I plan to live.
Yes, "Plan to live", but also plan how you are going to live.
A box of canned veggies does not allow for a lifetime of survival.
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