Quote:
Originally Posted by TheHurricaneKid
I don't mind paying the doctor...
...But if insurance people are going to take money from me for a long time where I won't need most of it, I'd rather have that money go to an account that generates interest for me.
...The way I see it, I see healthcare as a total cost to be paid in your life time. I am betting that I will save more money by investing the money I would've spent on insurance, whose premiums are going to be rather high after the affordable healthcare act.
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But the reality is far different from perception is it not?
As a young person the SMART thing to do would be to devote at aleast 5% of your disposable income to a retirement fund that will hopefully generate interest returns large enough to sustain an "adequate" lifestyle in retirement.
NOW add to that deduction another set aside of significant proportions to deal with a catastrophic medical event in your life. How much would that be likely to require? Another 5% perhaps, more - less?
NOW factor in you will also need to carry that catastrophic indemnity throughout your
entire lifespan including retirement and how much would you have to adjust either or both of those savings plans to accommodate that scenario?
NOW factor in the adjustment to those plans, both retirement AND medical, to accommodate for their costs INCREASING without restraint and where does that leave you in the scheme of having adequate funds set aside to cover a rather mediocre medical issue that has now skyrocketed in costs to treat due to NO attempts to reign in those profits being made by ALL parties.
My surmisal and worthless opinion: You cannot get there from here. No one living in the real world can or will save for both of those conditions being met in any kind of regimen that also allows for enjoying any kind of day to day lifestyle.
You may as well save yourself the angst of watching your fail-safe scenario fade into the distance. You cannot have both within any reasonable expectation.
What you need is affordable medical insurance that is government mandated and cost CONTROLLED that will cover your azz for any foreseeable medical event. It should be compulsory, either through payroll deductions or taxation. No choice in the matter. That should not be a crapshoot. You mandate the wearing of seatbelts for chrissake.
Your retirement lifestyle should be left entirely up to you to provide.
Take your pick; save for a mediocre retirement or save for a medical event and then live off welfare.
Some freak'n paradise that is!
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