Have you failed (financially) at ER and returned to work?

[Fermion]

Mulligan, you don't have funds in a protected account like a 401K or Roth IRA? Why would bankruptcy not be an option to protect your retirement accounts in the event you are forced to go without insurance because of pre-existing conditions?

While your premium increase does sound harsh, I was thinking more along the lines of having to pay $3,000 to $5,000 per month for insurance because one of us developed a severe condition.

I guess pre-ACA there was no early retirement option at all for someone with a pre-existing condition who did not have a gubmit or military retiree health plan. I felt as if ACA evened things out a bit.

 

[dallas27]

Was told [mod edit].....Leeches and whiskey here I come!


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You weren't screwed by ACA as so much by [mod edit]... once that pans out you'll get your leeches.


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[purplesky]

You weren't screwed by ACA as so much by [mod edit]... once that pans out you'll get your leeches.


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Its unfortunate that the ACA will never get a fair shot to work nationwide.

A 5 year ACA run with all the states fully cooperating would have been nice to see. But I guess we will never know.

 

[Brett_Cameron]

An interesting article (also rather long) that tries to answer the question of what the work world will look like in the future for the USA.








A World Without Work - The Atlantic

A science fiction book, written in 1939, describes such a place and an economic scheme that supported it: For Us, the Living: A Comedy of Customs by Robert Heinlein. It includes a description of the leisure force and an internet-like technology.

 

[Fermion]

A science fiction book, written in 1939, describes such a place and an economic scheme that supported it: For Us, the Living: A Comedy of Customs by Robert Heinlein. It includes a description of the leisure force and an internet-like technology.

I could see a day when robotic technology progresses to the point that the basic needs of food and shelter could be met with very few actual human workers (automated farms, autonomous vehicles, 3D printed houses)

We could all just don our haptic suits and live in some virtual fantasy world while getting Lays potato chips through an IV.

Sounds fun.

 

[Ed_The_Gypsy]

Papadad, I made too a large bet on oil and gas companies. They are all good companies, all but one pay good dividends. They will recover--but when? My diversified funds are doing well, though. I am converting the fallen from IRA to Roth, so a small ray of sunshine.

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[HFWR]

You weren't screwed by ACA as so much by [mod edit]... once that pans out you'll get your leeches.


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I believe the SC he's referring to is the Supreme Court...

 

[Mulligan]

Mulligan, you don't have funds in a protected account like a 401K or Roth IRA? Why would bankruptcy not be an option to protect your retirement accounts in the event you are forced to go without insurance because of pre-existing conditions?

While your premium increase does sound harsh, I was thinking more along the lines of having to pay $3,000 to $5,000 per month for insurance because one of us developed a severe condition.

I guess pre-ACA there was no early retirement option at all for someone with a pre-existing condition who did not have a gubmit or military retiree health plan. I felt as if ACA evened things out a bit.

Most of my money for retirement purposes is a pension. My portfolio is trivial compared to the value of my pension which could be confiscated on a monthly basis.
I complain but I freely admit it is more about relativism. If a person was used to getting beat with a whip one time and now is getting smacked five times he feels he is getting the hell beat out of him. If you were used to getting 10 smacks and now its 5 your thinking, "now that isn't so bad".


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[NW-Bound]

I complain but I freely admit it is more about relativism. If a person was used to getting beat with a whip one time and now is getting smacked five times he feels he is getting the hell beat out of him. If you were used to getting 10 smacks and now its 5 your thinking, "now that isn't so bad".

That's what spreading the pain is about.

 

[eytonxav]

When my mega corp culture turned toxic after a so-called merger of equals a few years earlier, I decided to take an early retirement offer at age 54. This came up with only a few months to accept the offer or stay, and I thought retirement might be a good option after that drudgery and 26 years of work. However, I was not prepared for retirement mentally, and ended up going back to work. It was not for financial reasons, but just missing the stimulation that came from my particular career field. Packed it in for good at 63 because the work commute became too much of a headache.

 

[Fermion]

Most of my money for retirement purposes is a pension. My portfolio is trivial compared to the value of my pension which could be confiscated on a monthly basis.
I complain but I freely admit it is more about relativism. If a person was used to getting beat with a whip one time and now is getting smacked five times he feels he is getting the hell beat out of him. If you were used to getting 10 smacks and now its 5 your thinking, "now that isn't so bad".


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Ok, I understand what you are saying.

The problem was not the $80 or $300 you are paying now for insurance, but the possibility that you could become totally uninsurable at any cost if you developed some rare disease with $150,000 a year medication (yes, these diseases do exist).

Think of it as if you are paying $210 more as insurance against said disease, since now you will still be able to get insurance if really bad health problems develop.

 

[Mulligan]

Ok, I understand what you are saying.

The problem was not the $80 or $300 you are paying now for insurance, but the possibility that you could become totally uninsurable at any cost if you developed some rare disease with $150,000 a year medication (yes, these diseases do exist).

Think of it as if you are paying $210 more as insurance against said disease, since now you will still be able to get insurance if really bad health problems develop.

Thats correct Fermion. I gonna complain because it makes me feel good, but I still will write the check! SC really saved many of us today. I read extensively a few years ago about the state of New York health insurance market which basically was guaranteed coverage without all the adjustments going on with ACA. The premiums were so high only like 15k or so in the whole state used it. Fortunately that will not happen now.


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[FUEGO]

For me, foolish to say I will stay on this path for the rest of my life. Historically speaking, I adapted and changed circumstantially along the way... Expect to continue to do so

That's pretty much how I'm approaching life. I'm fairly confident how the next 2 years of my life will go and beyond that it's just educated guessing.

Changing interests, economics, political landscapes, family situations, etc all impact how I'll be spending the rest of my life. I can run 60 year firecalc scenarios all day, get 100% success with various sensitivity analyses and that doesn't mean jack for how I may end up living a few years from now.

I'm pretty sure I have the financials to do whatever I want within reason, so I'm guessing any choice to relocate or work would be based mostly on personal whims and fancies.

 

[M Paquette]

Thank you, everyone, for your participation.