Will I be Able to Afford Retirement (house, buying)

[gonzolafacce]

This is directed towards those who are getting to the stage that are thinking about retirement.
If you are, please read this thru, if you are not, just go on to something else.
Will I be able to afford to retire. What about unexpected medical costs, which are sky high. Can I afford to live in the same area or will I have to go somewhere that the cost of living is not so high.
These are thoughts that we seem to put in the category of " think about it later".
The thing that frightened me most was the ever increasing cost of health care, something we must admit that we need more of as we get older. Yes, maybe we have secured ourselves with the investment in a house or maybe two, but even a couple homes turned into cash can easily get wiped out with a serious health condition. I know that is a nagging thought to many, but put into " think about it later" category.
I tripped into something, little by accident some 20 years back and would like to share with you here.
I was born in North Jersey, went to Rutgers before going out to conquer the world many, many years ago. With business and traveling I found myself in Asia where I had a bit of an accident , that upon coming to in a hospital and given a choice of an immediate operation that left the choice of, if successful I would walk with sticks the rest if my life or if unsuccessful I would be paralyzed. Some choice huh? . Conditions mandated that I make an immediate decision.
Well based on some excellent medical care and treatment, I survived to walk with sticks for the next decade or so. But i was introduced to something that I have benefited from for now over 20 years, something I didn't know existed...... affordable health care, and excellent health care at that !!!
I survived and ultimately went on to semi retire and move to this area some 20 years ago.

Its a great area. I have all the goods and services, the restaurants and the finer things of life that I would find in any burg in North Jersey, and much much cheaper.

What I would like to give you to consider, that as you get older each day, think about the cost of health care.... it could bankrupt you if you have a serious health incident. I give you this: my monthly hospitalization bill is approximately US$14.65. Some close to 20 years ago I went in to the hospital for testing for some occurring conditions . They found me to be borderline diabetic; high cholesteral ; High Blood Pressure , and a couple other minor maladies. After 6 days in a private room with TV. Refrig, A/C, Private Shower Toilet, balcony and a tremendous view, I was released to pay what I thought would be a whopper bill , I received a bill of slightly more than US$6.00. ..... and that included the 9 different pills I received. One of which pills i used to take when back in the USA , and pay for 30 pills, $92.00 each month. Here they give them to me.
I go to the hospital an average of once every month (sometimes more if some serious condition is at hand); have blood test; have a conversation with the doctor about any other difficulty; get the next months pills , and just sign my name.
I don't want to belabor this, its already long, but I ask the mods to allow it because if someone wishes to investigate, it could mean an extended life later on in your life . Health care costs get more important to each of us as we get older.

If anyone has any question please post or PM me, & I will try and answer as best as I can, Thank you for reading.

[JERSEY MAN]

You don't specify your age, assets or liabilities so it's very hard to give an opinion. Good luck

[ansky]

For something this important you need to talk to a financial planner, not strangers on the internet.

[johnfrisco]

I think "gonzolafacce" main issue is can he/she afford retirement as an undocumented worker?

[johnfrisco]

No. Keep on working or get a job!

[gonzolafacce]

I ask forgiveness for my poor writing/communication ability. The post seems to be being misinterpreted. I was not asking or writing about retiring for myself, but rather for the you, the reader.
I am retired, or at least semi-retired. and happily I must say.
Let me try again.
There are thousands of individuals in the USA , who retire, and with their lifetime limited investments plus Social Security, get by very easily. Then some unexpected, unplanned for medical or health emergency occurs. Then even with their cashed out investments, paid for house, and social security..... they are wiped out . Wiped out because of the ridiculous high cost of health care. We the American people are and have been for decades , drip-fed a bill of goods that our health care is best in the world; conditions and facilities are the best in the world; nowhere do the doctors come close to US standards, etc, etc. Being fed that line time and time again, soon you gradually accept it and the increase in cost/price to you. It has long ago gotten out of hand. With medical care one does not usually , nor is able to check other parts of the world to see how the price, conditions, facilities, etc, compare with those quoted by ones doctor. After all we trust our doctor. Think about this if you went to buy a new car, into dealer one, and were made to believe you were given a do right NOW and you will get this special price figure, most would still go out and compare prices and terms elsewhere before making that decision.
With health issues it is different most of the time.
We keep getting told:
Socialized medicine in other countries does not work.
The medical staff is untrained and unqualified.
The facilities are not adequate.
You will die in the emergency room.
...and on and on and on..... hear it enough and you will take is as fact when the time of decision making comes.
When buying a car , and many other things, you shop around, you compare then make your decision. Many times in health/medical cases , you do not have time to shop and compare. You have to have that input in advance.
Let me tell you this:
I live in Thailand.
I have a little Guesthouse, restaurant business.
My hospital is as modern and up to date as any I have ever been in in the USA.
I have in 20 years yet nto have an instance of not being able to communicate in English.
The vast majority of doctors have trained in the west.
I have been in hospital 4 times over the past 20+ years, for minor operations or treatment.
I have been and still average a once a month visit for a blood test, also had 2 minor operations and each time doctors consultation. [I am diabetic]
For the past 4 months or so , due to some diabetic related difficulties, I have been going on a on a weekly basis.
Excluding my monthly hospitalization premium of less than fifteen [US$15.00], I [over the past 20 years totaled] have yet to reach $100. in out of pocket expense. THAT IS A FACT. My greatest expense over these years has been taxi fare.
I feel more safe and secure with the medical care and facilities and service here than I ever have anywhere else. I cannot say enough about it.
I now tell you sincerely, if all the times and treatment that I have had here over the past 20 years, had I gone the same amount , to a hospital in the USA , I know I would have spent over one million dollars. That is not a blown up figure.
Now you can ask.....What is he selling??? NOTHING except the fact that back in the USA, we have become like sheep, like lemmings, accepting and buying all that is force fed to us. Yes the USA is the excellent and great, but there are other comparable and excellent places that have equally good health care programs at a small fraction of the cost.
People are different. Some want the adventure of knowing what is over the next hill, others never travel over 500 miles from home in their lifetime. I leave you with this, treat your health care the same as other major purchases.... shop around, study, investigate. There may be other means available to you to keep out of possible bankruptcy.

[Mightyqueen801]

How is this related to New Jersey?

[Calico696]

Originally Posted by Mightyqueen801

How is this related to New Jersey?

It's not.

[jjdeadhead]

Financial advice is worth what you pay for. Since this is free.....well it's worth....

[gonzolafacce]

Originally Posted by Mightyqueen801

How is this related to New Jersey?

Sorry, I guess I must have forgotten that Jersey-ites are all so rich that they don't have to worry about the excessively high cost of health care.