While I was browsing the internet, I came across conversation about an elder couple’s declining health, necessary specialized nursing home care and having to sell the house in order to qualify for Medicaid. Half a million snatched up to health care within a matter of a year. I just shake my head. US Healthcare should not rob a person of everything they have in order for a person to receive the health care they need. Especially knowing that almost every one will require it at one time or another.
I won’t go off on a rant, but it hit me that once I get my debt paid off I need to start planning for elder life finances and heath care. Let me back up, I am not that old (hello GenX), but with rules like needing to transfer a house 5 years before going on Medicaid – things are required to be planned ahead. I may never own a house. Although I hope I do get a modest one that can be transferred to my offspring. But reality – at this point – is that I will not be wealthy to pay for my health care needs out of pocket and not impoverish enough to have no assets. I’m in the middle and can lose it all in a heart beat. Scary thoughts! Especially considering it takes a long time to build a financial foundation. Gosh knows I don’t want to end up in a scrappy arse nursing home.
Now I understand why others are expats to countries that are more suitable for retirement. Maybe I should consider.
For a mind of abundance, I am first time posting the big picture of my finances. Slow and steady it goes.
- I would love to save $275/m in that UTMA account for a few years
- Pay off the debt. I really don’t want to known for, “Student Loans will be the Death of Me”
- Max out the Retirement fund each year
- Buy a cozy house in a place of nature
- Live frugally forever! (I wish I didn’t need to, but this is me accepting my reality).
And there you have it! Check out my updated about page here.
Tacking on two articles I enjoyed today:
FIRE – Financial Independence, Retire Early or Retire Ever?
Going Back to Cali…?
Adulting is tough stuff. Any tips on how to do it successfully?