Very insightful. A balanced view of life includes seeing things more objectively. I think you're certainly right. Perhaps we can work toward that goal by attributing luck and skill to their proper place and trying to view our worries as transient as the hedonic treadmill would have us find our latest possession...
Good points I imagine the answer lies somewhere in between earning good income and a rewarding career. I suspect Dave found his career rewarding as well.
I believe there is too much attention to things like "dream retirement". There are benefits to working and benefits to retirement and they are different for different people. Rather than dream of retirement, dream of creating financial independence. Do that through diligent saving and investing throughout your work life, lean heavily toward stock and bond index funds and allocate based on your age and risk tolerance. If done over a few decades, all will be as you hope...
Liz, I have to compliment you for offering such as thorough review of the many Medicare plans and choices. I would offer a further comment to your points about Medicare Advantage plans that may be helpful. Medicare Advantage plans are private insurance company plans that "wrap" their insurance coverage around the underlying medicare coverage. The result, as demonstrated in the many media advertisements, is enticing portrayals of relatively lower costs by limiting copays, deductibles and doctor visit costs. The question everyone should ask when reviewing any Advantage plan: what is the insurance company getting in return for offering lower costs? The answer in general terms is they control their expenses by denial of coverage for a wide variety of often medically necessary, but expensive, procedures. If you have a serious illness, the treatment for which would otherwise be covered under traditional medicare, you may find that treatment or specific procedure is denied for coverage. Given that insurance is (or should be viewed as) fundamentally about limiting major medical expenses which primarily arise from serious illness, this is a gamble. Using traditional medicare without an Advantage plan wrapping is for most people a better choice. No one wants to be confronted with a cancer treatment recommendation or need a specific type of heart surgery and the insurance company promptly denies coverage due to a host of legally permitted reasons (e.g., there is insufficient evidence that the procedure has shown (yet) benefit over a lower cost treatment)...
Comments:
Very insightful. A balanced view of life includes seeing things more objectively. I think you're certainly right. Perhaps we can work toward that goal by attributing luck and skill to their proper place and trying to view our worries as transient as the hedonic treadmill would have us find our latest possession...
Post: Why We Struggle
Link to comment from January 4, 2025
Your personal courage and the wisdom and inspiration your writings elicit in your readers is your real gift. And it is lasting…
Post: Staying Alive by Jonathan Clements
Link to comment from December 21, 2024
Good points I imagine the answer lies somewhere in between earning good income and a rewarding career. I suspect Dave found his career rewarding as well.
Post: Time’s A-Wasting
Link to comment from November 23, 2024
Very well written and insightful article, Dave.
Post: Time’s A-Wasting
Link to comment from November 23, 2024
Well done post. The math often illuminates the logic as your home value example demonstrates...
Post: Math Rules
Link to comment from November 2, 2024
I believe there is too much attention to things like "dream retirement". There are benefits to working and benefits to retirement and they are different for different people. Rather than dream of retirement, dream of creating financial independence. Do that through diligent saving and investing throughout your work life, lean heavily toward stock and bond index funds and allocate based on your age and risk tolerance. If done over a few decades, all will be as you hope...
Post: Dream Retirement – Is it fading away?
Link to comment from November 2, 2024
Liz, I have to compliment you for offering such as thorough review of the many Medicare plans and choices. I would offer a further comment to your points about Medicare Advantage plans that may be helpful. Medicare Advantage plans are private insurance company plans that "wrap" their insurance coverage around the underlying medicare coverage. The result, as demonstrated in the many media advertisements, is enticing portrayals of relatively lower costs by limiting copays, deductibles and doctor visit costs. The question everyone should ask when reviewing any Advantage plan: what is the insurance company getting in return for offering lower costs? The answer in general terms is they control their expenses by denial of coverage for a wide variety of often medically necessary, but expensive, procedures. If you have a serious illness, the treatment for which would otherwise be covered under traditional medicare, you may find that treatment or specific procedure is denied for coverage. Given that insurance is (or should be viewed as) fundamentally about limiting major medical expenses which primarily arise from serious illness, this is a gamble. Using traditional medicare without an Advantage plan wrapping is for most people a better choice. No one wants to be confronted with a cancer treatment recommendation or need a specific type of heart surgery and the insurance company promptly denies coverage due to a host of legally permitted reasons (e.g., there is insufficient evidence that the procedure has shown (yet) benefit over a lower cost treatment)...
Post: Medigap pricing question
Link to comment from September 14, 2024