Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Hummm, I Failed to factor this into my retirement plans
Old 03-22-2010, 03:48 PM   #1
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
mickeyd's Avatar
 
Join Date: Apr 2004
Location: South Texas~29N/98W
Posts: 5,880
Hummm, I Failed to factor this into my retirement plans

As the son of an Alzheimer's patient, I guess I should somehow factor this into my plans but I'm not sure how to do it. I have advised DW that if I happen to go off the deep end to exchange all of my tax favored funds to 100% into the Vanguard 2020 fund as she has no investment ability (so she says) even tho she has 3 university degrees.

Quote:
"Alzheimer's disease is the largest thief of retirement" said Chris Cooper, president of Chris Cooper & Company, Inc. and ElderCare Advocates, Inc. "It is a slowly progressing disease, leaving the person oftentimes with good physical health and less mental faculties to use this good physical health."
Americans are often diagnosed with Alzheimer's in their late 60s and 70s, but it can and does occur earlier. And, Cooper said, many Americans fail to plan for the disease. "When confronted with the diagnosis, families often scramble for information and begin to engage in different forms of 'quackery,'" said Cooper, who is a former president of the Ohio Council of the Alzheimer's Association and whose maternal grandmother had Alzheimer's disease.
To Cooper, the quackery usually takes three forms: medical, financial and legal. People might pursue medical treatments that have not been proven to work, and many times are harmful, he said. And they might try to do things with legal and financial instruments, he said, "all in the name of 'fear of running out of money' and 'the only way to get the government to pay for my parent's nursing-home care.'"
2-major-barriers-to-your-retirement-plans: Personal Finance News from Yahoo! Finance
__________________

__________________
Part-Owner of Texas

Outside of a dog, a book is man's best friend. Inside of a dog, it's too dark to read. Groucho Marx

In dire need of: faster horses, younger woman, older whiskey, more money.
mickeyd is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 03-22-2010, 04:42 PM   #2
Thinks s/he gets paid by the post
MasterBlaster's Avatar
 
Join Date: Jun 2005
Posts: 4,359
These 2 mentioned and other so called "black swan" issues can ruin the best of plans. It isn't clear that you can plan for absolutely every unforeseen event.

However forced early retirement and/or major health issues (including Alzheimer's) can really screw things up. There are a number of other issues that could screw up your well laid plans - such as thermonuclear war, financial collapse, pestilence, global warming, asteroid impact - just to name a few).

I'm not sure what the best approach to these issues are other than to save even more money early in life.
__________________

__________________
MasterBlaster is offline   Reply With Quote
Old 03-22-2010, 10:37 PM   #3
Moderator Emeritus
Nords's Avatar
 
Join Date: Dec 2002
Location: Oahu
Posts: 26,616
Quote:
Originally Posted by mickeyd View Post
As the son of an Alzheimer's patient, I guess I should somehow factor this into my plans but I'm not sure how to do it.
My father and his father have inspired me to become a health paranoiac fanatic.

Aside from the "if I wake up demented/dead" financial letter and LTC or self-insurance, I think the only other option is to stay as healthy as possible as long as possible in order to give medical science more time-- for whatever medical disasters we're dreading.

Our bedroom community just opened a huge geriatric facility with a memory-care unit, so I guess we have cradle-to-grave support now.
__________________
*
*

The book written on E-R.org, "The Military Guide to Financial Independence and Retirement", on sale now! For more info see "About Me" in my profile.
I don't spend much time here anymore, so please send me a PM. Thanks.
Nords is offline   Reply With Quote
Old 03-28-2010, 05:22 PM   #4
Recycles dryer sheets
 
Join Date: May 2009
Location: Ottawa and Fort Myers
Posts: 488
there is also the pending reality that medical science is getting ever closer to permanent longevity

telomeres replacement and all that

Prevention of Senescence and Cell Death In Murine Stem Cells: Length Matters - GLG News

Greg Critser considers our mortality in 'Eternity Soup: Inside the Quest to End Aging' - Los Angeles Times
__________________
Kroeran is offline   Reply With Quote
Old 03-28-2010, 05:25 PM   #5
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
REWahoo's Avatar
 
Join Date: Jun 2002
Location: Texas Hill Country
Posts: 42,072
Quote:
Originally Posted by Kroeran View Post
there is also the pending reality that medical science is getting ever closer to permanent longevity...
Yep. Medical science is going to get there or die trying.
__________________
Numbers is hard

When I hit 70, it hit back

Retired in 2005 at age 58, no pension
REWahoo is offline   Reply With Quote
Old 03-28-2010, 05:40 PM   #6
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
RunningBum's Avatar
 
Join Date: Jun 2007
Posts: 5,163
My plan to live forever is going quite well so far.
__________________
RunningBum is offline   Reply With Quote
Old 03-28-2010, 07:49 PM   #7
Moderator Emeritus
Nords's Avatar
 
Join Date: Dec 2002
Location: Oahu
Posts: 26,616
Quote:
Originally Posted by Kroeran View Post
there is also the pending reality that medical science is getting ever closer to permanent longevity
The heck with medical science's longevity, I want to know when my longevity is permanent!
__________________
*
*

The book written on E-R.org, "The Military Guide to Financial Independence and Retirement", on sale now! For more info see "About Me" in my profile.
I don't spend much time here anymore, so please send me a PM. Thanks.
Nords is offline   Reply With Quote
Old 03-29-2010, 05:49 PM   #8
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
mickeyd's Avatar
 
Join Date: Apr 2004
Location: South Texas~29N/98W
Posts: 5,880
My folks lived into their 90s and for the final 5 years or so they resided at a "retirement community" in Tampa. I tried to visit them at least annually and I recall meeting many vibrant 90 yo tenants in that community. I even recall meeting quite a few 100 yo folks. What I can recall clearly is that no matter how sharp these folks were mentally, their bodies were clearly not created to live that long.

Many used walkers, many wheel chairs, and they labored to stay mobile. A sharp mind is a wonderful thing in old age, but the body tends to break down no matter what.
__________________

__________________
Part-Owner of Texas

Outside of a dog, a book is man's best friend. Inside of a dog, it's too dark to read. Groucho Marx

In dire need of: faster horses, younger woman, older whiskey, more money.
mickeyd is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Fudge Factor kyounge1956 FIRE and Money 29 01-11-2010 08:32 AM
Retirement Plans on Hold Reader Lou Hi, I am... 3 07-22-2008 06:21 PM
A glitch for some retirement plans Khan Life after FIRE 11 04-05-2008 08:55 PM
Retire the Retirement Plans? peggy FIRE and Money 7 08-16-2006 08:51 PM
www.ehealthinsurance.com fudge factor? Cb FIRE and Money 14 08-24-2005 07:19 AM

 

 
All times are GMT -6. The time now is 03:24 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.