Some of Us Will Live Too Long

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A wise young person begins early and never wavers from contributing to their retirement. No excuses. Slow and steady. Young people cannot depend on social security being there for them. And even if it still is, people are finding it just isn’t enough to live comfortably on.

The thing I found most depressing about the link was that while the doctor made mention of how much longer people are living, he seemed to highlight only the downsides and missed the opportunity to educate people as to them taking control of their health earlier in life. He seemed to spend most of the time talking about people not having enough money.
 
Irishmom2 said:
missed the opportunity to educate people as to them taking control of their health earlier in life.
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Yup. That’s an inconvenient truth that nobody wants to talk about. I work with some younger guys in their 30’s and they’re all overweight and suffering from high blood pressure.

It’s not looking good…
 
Exactly. The earlier a regular exercise program that continues through one’s life, the better off they will be.
 
Just make sure the financial advisor is fiduciary, meaning he or she is legally obligated to work in the client’s best interests, and that he or she is fee based instead of commission based.
 
Be VERY careful believing anything out of the agenda-driven washington post and their lackeys!

All reporting, whether so-called investigative or editorials lead directly/indirectly to the same conclusion:
Donald Trump, republicans and Christians are the root cause of all problems.

Be suspicious of all fear driven journalism. (Especially when they require spy-cookies)

 
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Good points JanR!

The easy test is to ask about their fees. If the answer is “free”… run.
They have a backdoor/broker relationship with a fund house.

Beware of their acronyms. A registarted investment advisor RFI can be had by just about anyone. A CFA is much harder to get. Expect to pay around $1500 for a one time coaching, and $3000 for full management with $250/hour touch-ups.

Sounds like a lot, but the former advisors will secretly extract tens of thousands of dollars out of your pocket.
 
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I pay into a pooled pension plan, and have some other retirement savings as well. I also intend to continue “working” online after I retire from my current job. Given that I am a nursing instructor, I may also be able to continue “working” by doing exclusively online nursing education. This would enable me to work anywhere, maybe even from my own home.
 
From the article:

"Most people have no long term care insurance. Every week, I have to tell the shocked family of an elderly debilitated patient: “Yes, your family member needs assisted living or in-home care. No, Medicare does not cover that. You have to cover that. Plan on $6000 per month. Sorry. It’s just the way it is.”

Medicare does not cover nursing home care.
 
I can’t speak to how it is in the U.S., but here in Canada, our provincial health care covers the nursing care part of publicly-funded nursing home beds, but not the room and board part. Our province sets a standard fee for room and board that nursing homes can charge their residents.

If you elect to go with a private care facility, then the cost is much higher.
 
And, unfortunately, the quality of care given in some nursing homes doesn’t measure up anywhere near what they charge for residency there. For the high price, they could surely do a lot better.
 
Retsel said:
Be VERY careful believing anything out of the agenda-driven washington post and their lackeys!

All reporting, whether so-called investigative or editorials lead directly/indirectly to the same conclusion:
Donald Trump, republicans and Christians are the root cause of all problems.
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THAT was your take-away from the article? Good grief!
 
Irishmom2 said:
Wow, that was rather depressing…
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CAF understatement of the day.
Cruciferi said:
It’s entirely possibly to save money and plan for a comfortable future.
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I am all about saving for retirement. Not only saving financial resources, but trying to live in a manner that contributes to long-term health. Unfortunately, even the most thrifty person who lives the healthiest lifestyle is subject to the uncertainties of life. We’re all just one catastrophic illness or accident away from being bankrupt.
 
Some Medicare supplement insurance plans do cover long-term care, to some extent. It pays to have supplemental insurance or an advantage plan, as what Medicare doesn’t cover, the insurance will usually pick up.
 
JanR said:
Some Medicare supplement insurance plans do cover long-term care, to some extent. It pays to have supplemental insurance or an advantage plan, as what Medicare doesn’t cover, the insurance will usually pick up.
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Medicare will cover (I think) up to 21 days of rehabilitation in a nursing facility following a hospital stay (subject to some pretty restrictive requirements.) Most Medicare supplement plans will cover several more days. Medicare does not, however, cover nursing home care for someone who requires long-term custodial care.
 
JanR said:
And, unfortunately, the quality of care given in some nursing homes doesn’t measure up anywhere near what they charge for residency there. For the high price, they could surely do a lot better.
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That’s for sure. I had a relative who worked in the ombudsman’s office for the State Department of Aging. It was her job to respond to complaints about nursing homes. I once asked her if she could recommend a “good one.” Her response: “Some are better than others, but there aren’t any good ones.” She also added, “God help you if you have outlived the rest of your family. If you have no one to advocate for you, you are totally screwed.”

Something to look forward to.
 
Which is why, when family talk turned to putting our dad into a nursing home, I laid down the law and said they would do so over my dead body! He got to remain in his own home, with Hospice assisting us and him, and lived only a week thereafter. But his family was there, and he was in a familiar environment.

And that’s also why I opted to be a home health aide instead of working in our local nursing home. I wanted people to be able to remain in their own homes, if at all possible. I got my CNA – certified nursing assistant credentials – then took care of clients in their residences.
 
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