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January 17, 2008


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So basically, get that mortgage paid off, because in retirement that money may be going towards health care. Wow.

So make sure you quit smoking, lose weight, get fit, and you'll hopefully be in better shape when you retire (financially and otherwise!) Yes, "better shape" was an intended pun.

What consistently amazes me is to see 65 year old people taking our 30 year loans for homes they cannot afford. Worse is to see them taking out 3 year ARM loans or buying a new Corvette.

We better ALL be considering long term care insurance, because very few will be able to afford health care before long.

I agree with Kevin that we need to focus on preventative medicine. That is the major shift I see happening. It is much cheaper to join a gym and take vitamins than have a quadruple bypass.

Also, I don't put much credence on the Metlife statistic about nursing home care. They sell insurance so they want to scare folks into buying it. From objective sources I have seen, you only have a 20% chance of entering a nursing home. And those that do, only 20% stay longer than a year.

Why isn't anybody asking the question, why are we spending so much on end-of-life care? Nobody wants to think about letting grandma die, but what sense does it make to replace a hip/kidney/heart/etc for someone who's life is a vegetative state?

Little end of life care is spent on those however. Few elderly are up to an operation. Most of this is simply hospital visits trying to sustain them, fighting illness and disease.

Sure, but those hospital visits don't come cheap, and there's the enormous prescription cost to consider. My grandma, for example, takes so many pills with each meal, that she can't tell when she's dropped 1 or 5 - there might be as many as 30 pills taken at a time. We hear on the news about how 'seniors can't afford their medicine' but never "does it really make sense to keep doing this for someone who's lived a full life and isn't able to do so any longer"

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