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<blockquote data-quote="bacha29" data-source="post: 5509203" data-attributes="member: 58386"><p>In every individuals life there are several dramatic and completely unforeseen turn of events that can and often does transform their lives into something they never dreamed possible. </p><p></p><p>As a number of financial planners have noted a divorce on average will cost you 10 of your peak earning years. When you factor in litigation costs with property settlements that are often liquidations for "take it off your hands" prices, that 10 year number is not excessive. </p><p></p><p>Then you've got healthcare costs. The driver most responsible for the creation of the ACA was the fact that 86% of all personal bankruptcies were due to medical costs. And companies today are doing everything they can get away with in order to divest themselves of "legacy costs" and principal among them are retired employee healthcare costs. And nursing home costs? Medicare only pays for the first 21 days followed by and additional 100 days less a very sizeable deductible.....After that....it's all on you. And with social programs under constant daily attack from MAGA's and the so called "Freedom Caucus" it's becoming less and less likely that they'll still even be around to throw you a lifeline. </p><p></p><p>410K? The only retirement plan whose deposits are federally insured is Social Security. The rest including 401k"s are at the mercy of the marketplace. And we've all seen just how volatile they are, have been in the past and will continue to be in the future. </p><p></p><p>Some people do have a certain "here today...gone tomorrow" approach to life. That's fine. Trouble is in this time and age there is no gone tomorrow because more often than not it was gone the afternoon of the previous day.</p><p></p><p>No matter your family structure.....in the end.....the only person you actually have to count on....is yourself.</p></blockquote><p></p>
[QUOTE="bacha29, post: 5509203, member: 58386"] In every individuals life there are several dramatic and completely unforeseen turn of events that can and often does transform their lives into something they never dreamed possible. As a number of financial planners have noted a divorce on average will cost you 10 of your peak earning years. When you factor in litigation costs with property settlements that are often liquidations for "take it off your hands" prices, that 10 year number is not excessive. Then you've got healthcare costs. The driver most responsible for the creation of the ACA was the fact that 86% of all personal bankruptcies were due to medical costs. And companies today are doing everything they can get away with in order to divest themselves of "legacy costs" and principal among them are retired employee healthcare costs. And nursing home costs? Medicare only pays for the first 21 days followed by and additional 100 days less a very sizeable deductible.....After that....it's all on you. And with social programs under constant daily attack from MAGA's and the so called "Freedom Caucus" it's becoming less and less likely that they'll still even be around to throw you a lifeline. 410K? The only retirement plan whose deposits are federally insured is Social Security. The rest including 401k"s are at the mercy of the marketplace. And we've all seen just how volatile they are, have been in the past and will continue to be in the future. Some people do have a certain "here today...gone tomorrow" approach to life. That's fine. Trouble is in this time and age there is no gone tomorrow because more often than not it was gone the afternoon of the previous day. No matter your family structure.....in the end.....the only person you actually have to count on....is yourself. [/QUOTE]
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