What's the number?

[sirbumpsalot]

Is this typical for you guys? I could live very comfortably on $50/k yr in my (paid off already) house. What do you need the other $75k for? I'm not judging, just curious. Is it the kid costs, or are you assuming that would end?

I kid you not....one of my older friends uses his SS checks to pay his $24K yearly property taxes!

[The AD]

Is this typical for you guys? I could live very comfortably on $50/k yr in my (paid off already) house. What do you need the other $75k for? I'm not judging, just curious. Is it the kid costs, or are you assuming that would end?

Seems like a lot to me, too. Sure you'll have the occasional large expense, but seems like on a year-by-year basis this is a lot--at least in today's money.

[yeahman]

It’s a good theory.
But more likely the thing that pushes you over the edge sneaks up on you and leaves you unable to pull your own trigger.
Or it’ll be your spouse.


Sent from my iPhone using TGR Forums

If I'm unable to do the job myself, I've told my spouse to take me to a state where assisted suicide is legal (probably Oregon) and have me put to sleep. No nursing homes.

[phatty]

Is this typical for you guys? I could live very comfortably on $50/k yr in my (paid off already) house. What do you need the other $75k for? I'm not judging, just curious. Is it the kid costs, or are you assuming that would end?

I could be off, but I'd rather plan too much than not enough. If it was just me, I'm sure I could live on very little. My wife likely doesn't agree. I also have 5 kids who will be having grandchildren and I want to be able to see them plenty and help where I can.

[dunfree]

Tgnar is unacquainted with medical costs

[Marshall Tucker]

End of the world talk...99% of the population will not achieve this lofty goal...but somehow if you get this hypothetical $5M, you will be able to live a fairly middle class lifestyle by tightening your belt...and the masses will not descend on your property with pitchforks and relieve you of your "pile".

Don't know WTF you are saying here, which is fine. You don't seem to be adding a whole lot -

[Marshall Tucker]

Need a cite on those bankruptcy dates.

it was from multiple of these. Not sure exactly which one. if it wasnt' busy season I'd find it exact.

https://retirementriskadvisors.com/events/

[LeeLau]

Most of the CPA CPE events I've attended on this are lining up behind when you retire, you should be withdrawing no more than 2.5% of what you have in the bank per year.

Say you think you can get by on a buck 25, you'll need 5m in the bank. Now, a lot, and mean a whole lot, of folks are like "shit, I can make 12% in the market, fuck 2.5%." What 2.5 provides for is increased life expectancy, and healthcare cost is the wildcard in all of it. Not to mention medicare going bankrupt (late 2020s) then social security (2032 or so). So, plan as you will...

The US numbers are crazy. What an eye-opener it is to see how behind the 8 ball all of you are because of medical costs. Canadians still forecast 4% drawdowns but that's in large part because there's no medical care big expenses. I asked some friends of mine from Germany and Norway and that 4% number is also about right.

Someone explained to me the cost of having a kid in the US and that it was $ 10k or more and then explained how big the student loan numbers were for "normal" professionals. I've never felt so sheltered in my life

[XXX-er]

Well why should the taxpayer pick up the bill so someone can give their inheritance to their kids who probably are well off themselves?

It does sound vaugley communist but it worked for me, i paid off the mortgage

its probably better if y'all just live desperate lives down there

just shoot someone(s) when it gets intolerable

edit: i was discussing HC with someone on TGR and buddy said " yeah i think universal HC is great but I don't wana pay for that BBQ eating/ smoking fat fuck from the the south east " uh dude "universal" means everybody,

a seemingly intelligent person could use the word correctly in a sentance but did not really get it

[Marshall Tucker]

how behind the 8 ball all of you are because of medical costs.

Interesting comment. if you go look at the ACL class thread, I think 2017, you'll see that I tore an ACL 100% +-3/7, and, quite litterally within 24 hrs I had an office visit with a very, very good orthapedic surgeon. I opted to have the surgery done by the absolute stud muffin of ACL repair in Atlanta (rosenstein/Resurgens), and had to wait until 3/28 to actually have the surgery. I was playing tennis hard by the first week of july (cadiver material).

There was a canadian dude active on that thread who said he tore his about the same time and while "free" his first consult with a doctor was not until late september.

So there's a difference between the systems as well.

[bennymac]

You do realize you can pay to get an MRI tomorrow and then pay to see a knee surgeon later this week…in Canada.

The MRI will cost about $600-$700usd.

[XXX-er]

took me 8.5 months to get a new ACL but 3.5 months of that was covid lock down so lets say 5 months but thats pretty good up narth eh

i brought some old crutches so it cost $0

I met a girl who got hurt after me and got surgery before me but she did have the kneed eh

you can pay for it down in Vangroovy but that costs 4-5 K and i don't think the guy was any good, he fucked around with my buddies knee a bit and convinced buddy the ACL was not necessay

[Marshall Tucker]

You do realize you can pay to get an MRI tomorrow and then pay to see a knee surgeon later this week…in Canada.

So how is that different than in the US? JHC I hear all the time about how superior the canadian system is, and just-as-often I hear about ungodly waits up there to do anything.

so which is it? a US system where you pay, or one you don't?

[LeeLau]

Interesting comment. if you go look at the ACL class thread, I think 2017, you'll see that I tore an ACL 100% +-3/7, and, quite litterally within 24 hrs I was having an office visit with a very, very good orthapedic surgeon. I opted to have the surgery done with the absolute stud muffin on this type of surgery in Atlanta, and had to wait until 3/28 to actually have the surgery.

There was a canadian dude active on that thread who said he did his about the same time and while "free" his first consult with a doctor was not until late september.

You can pay to jump the queue and get treated. The cost was about 3k for the 24 hr turnaround (the health care worker's cost is subsidized - you pay the upcharge for the facility). Wait times about 2 years ago were about 30 weeks. They're now down to 3 weeks (checking online at a local hospital). Still not great if you want it done quicker.

If it's work-related or a senior then turnaround is also about 24 hrs as they get priority

EDIT - just saw your other questions. Apples to apples Canada's system is slower. In return, big issues often faced by the elderly are taken care of by the system.

Hence my observation about the difference between the US vs other OECD countries with universal healthcare regimes when talking about retirement. We simply don't have those big binary-outcome events as a financial hit.

[bennymac]

So how is that different than in the US? JHC I hear all the time about how superior the canadian system is, and just-as-often I hear about ungodly waits up there to do anything.

so which is it? a US system where you pay, or one you don't?

Calm your tits.

JFC people get hair triggered over this shit - it’s like Stockholm syndrome with the US healthcare system. Yeah it bankrupts people but don’t you dare criticize it.

The answer is painfully obvious.

You want free? You have to wait 5 months if it’s not something life threatening.

You want it tomorrow? You can pay.

Let me know if you still can’t see the difference.

[El Chupacabra]

Everyone thinks they’re gonna sprint to the finish, or maybe waltz to the finish. Followed quickly by a chest grabber or the big C. Best case scenario, fall asleep and don’t wake up. “Worst case” scenario, sick for a few months as people cycle through and bid farewell.
Actual worst case is something closer to Stroke, Dementia or Severe disability that leaves you (or your spouse) lingering for years. Ever price out Long Term Care (aka nursing home)? I’d plan on $10k/month for a private room. Maybe double/triple that in 10 years.


Sent from my iPhone using TGR Forums

My dad was in memory care in a nice facility in Monterey County, California (ie one of the more expensive places you could live), until he passed away in Dec. His monthly bill was $6,786. He had purchased long term care insurance, which covered all of it after an initial waiting period.

Dementia sucks.

[Marshall Tucker]

Calm your tits.

JFC people get hair triggered over this shit - it’s like Stockholm syndrome with the US healthcare system. Yeah it bankrupts people but don’t you dare criticize it.

The answer is painfully obvious.

You want free? You have to wait 5 months if it’s not something life threatening.

You want it tomorrow? You can pay.

Let me know if you still can’t see the difference.

Thank you so much. Quite graceful of you.

to the thread, that our system is fuckt is nothing new. About the only thing that it's got going for it is that when you want to get in front of the best in the world, quickly, it's not that difficult to do.

[bennymac]

sorry I went with JFC instead of your JHC- agree that it's less graceful

[schuss]

it was from multiple of these. Not sure exactly which one. if it wasnt' busy season I'd find it exact.

https://retirementriskadvisors.com/events/

Ah, so an industry group with a decided interest in fear-mongering around it. Makes sense (Note - not that I disagree with overplanning for retirement), but ignores the realities of those programs. I know if they said "no more SS" I better damn well get a refund for all the folks I've been propping up this whole time.
It just ticks me off as it's been a conservative talking point for years so they can convince people it isn't in good shape and eliminate it, when really a minor tweak (uncapping SS payroll tax, for example) or two and everything's fine. Healthcare is its own clusterfuck.

[bennymac]

[XXX-er]

the doc does the triage and makes the decisions about his patients HC, not an insurance company, the MD has an ID# and a code book and they use it to bill the system directly, so no insurance companies to fuck it all up

i think MOST people wait , the gal who got her ACL cut on before me even tho she got hurt after me was fucked up, she couldn't straighten her knee whereas i was still riding my enduro bike

[Marshall Tucker]

Ah, so an industry group with a decided interest in fear-mongering around it.

No, it's not. these are free CPE events to the industry and not to the public-at-large. But as I said, beleive what you will and plan how you want.

[bennymac]

[jm2e]

Kinda sums up the dream of American Exceptionalism right there. Put up with a broken system that underserves millions as long as me and my peeps can feel like we have access to the best.
But since this thread is about the uncertainties of retirement, keep in mind that a stroke, pneumonia, or head injury will bankrupt you a whole lot quicker than a torn ACL.


Sent from my iPhone using TGR Forums

[Core Shot]

Fuck. The intersection is about 58

Ooof