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I do share some of the Op's frustration. 1st there are so many horror stories. even here. remember a while back when all the prognosticators were tell you that if you did not have a million dollars saved you were doomed to eat cat food? yeah right.
Now I find that's true with health insurance. all you hear is if you don't have ltc insurance, forget it, you'll be wiped out and end up on welfare back to eating cat food.
then once you finally think you've got a handle on the acquiring stage lol BAMM turn around and now you have to worry about what's going to happen after you retire. lol, are fees going to eat up your retirement, is the stock market going to tank leaving you penniless. on and on and on.
It can be depressing. some times I want to say "when the heck do I get to sit back and just chill"?
At what age were you last able to sit back and chill knowing all is and will be well without interruption? I understand your thought and am beginning to realize at 70 maybe not
I'm not sure when others can relax, but for us, it's right about NOW. Our politicians have pretty much established they'll allow SS, Medicare and Medicaid to collapse in roughly 20 years.
I'm not sure when others can relax, but for us, it's right about NOW. Our politicians have pretty much established they'll allow SS, Medicare and Medicaid to collapse in roughly 20 years.
So, at 75 currently, we're good!
Except budget deficits may require emergency intervention somewhere.
Except budget deficits may require emergency intervention somewhere.
I think most of us are probably safe from that. It is more likely they would phase in changes for people 10 years or more from retirement age. I can't say that with certainty, of course. It's probably going to be at least 2.75 years until the cap is lifted on SS withholding, but it is extremely likely to get lifted, IMO.
At what age were you last able to sit back and chill knowing all is and will be well without interruption? I understand your thought and am beginning to realize at 70 maybe not
There does always appear to be something coming along, doesn't there?
if you are dependent on the markets and markets are behaving badly you worry about that. if you bailed and it passes you by you cringe on every rally because you missed it and the increased balance .
there is never a good time to be invested until after the time frame passes you by ..
then you have health issues , house issues , kids issues or grand kid issues. life is always a wall of worry
Last edited by mathjak107; 03-26-2018 at 10:57 AM..
This is someone who has never done well managing money and has not saved. Now they have concocted a rationalization trying to justify their poor choices.
I have long term care insurance that will cover 3 years. By the time I have been needing that amount of care for 3 years, I doubt I will care what type of nursing home (e.g., Medicaid funded or self pay) because by that point I expect I will just be waiting for the end. I think it’s important to save and plan for a long retirement but, nowadays many people live well into their ninties. After being retired for 30 plus years, the money will eventually run out. Hopefully by that point my dementia will keep me from caring all that much about where I’m at.
I worked for an elder law attorney as a paralegal for a time and he said that the vast majority of those that find themselves in a nursing home do not last more than three years.
I worked for an elder law attorney as a paralegal for a time and he said that the vast majority of those that find themselves in a nursing home do not last more than three years.
Thoughts to ponder.
You make it sound like nursing homes are killing those people or providing less than quality care---which is why they only live such a short time...
My mother was in a nursing home for 10 yrs and was in her 80s when she died...
The fact is that most people don't go into a nursing home now until they really are in bad physical health so it is no surprise the average stay is under 5 yrs...
Many people do everything they can to stay out of a nursing home...
You make it sound like nursing homes are killing those people or providing less than quality care---which is why they only live such a short time...
My mother was in a nursing home for 10 yrs and was in her 80s when she died...
The fact is that most people don't go into a nursing home now until they really are in bad physical health so it is no surprise the average stay is under 5 yrs...
Many people do everything they can to stay out of a nursing home...
That is one of the major advantages of CCRC's they help minimize the need for a nursing home and if eventually needed delay entering.
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