This is not a plea for sympathy, I’m just using myself as an example because I know the numbers. This is an explanation of how people find themselves living at the whim of others. A position I often see taken against Social Security and Medicare is that people should have the sense to save for the future.
Now, aside from the obvious problem that many people don’t earn enough to save let alone retire, there are other possibilities.
I was 46 when I got critically ill and almost died. Did you have enough saved for retirement at 46? I don’t mean enough to retire after 20 more years of work, I mean enough to retire at 46 and then live off of for the next 30 years or more.
So, I got sick at 46, I can’t work, I had 6 months at 40% pay (a benefit I appreciated, but not a way to get rich), I had a year where I had no money at all coming in (my insurance company didn’t believe my doctors), now I am dependent on various forms of insurance (that I paid for) that give me about the same amount as I made in the early 90s. I also have medical expenses that are more than 3000% higher than they used to be – that is not an exaggeration.
My out of pocket medical expenses are just over 28% of my income. That’s with two forms of decent insurance. Is it a surprise that people go bankrupt because of medical debt?
By the way, when I got sick it cost $1.3 million dollars to save my life. Does anyone honestly question a need for good insurance for everyone?
I haven’t given up trying to find a way to get back to some form of work, but I may not be able to and there are people who are in worse shape than I am.
Social Security and Medicare are called social safety nets for a reason. Sometimes, no matter how well you plan, illness and accident and age will catch up with you. My wife got cancer, was hit by a reckless driver and can’t work. I got sick and almost died and can’t work. Who can plan for that?
Do you know what your health will be like when you reach 65 or 70 or 80 – or tomorrow?
Are you ready for anything like this in your life?
2 comments:
When that illness showed up at your door, you should have listened to Nancy Reagan and "just said 'No'".
But she was retired, or something. I didn't know it was still an option.
BTW - I like the picture.
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