Re: Baby Boomer's Retirement Fears

>> >>>> Too_Many_Tools wrote:

>>>>> Your thoughts? >>>>> TMT >>>>> Poll reveals baby boomers' retirement fears >>>> snip >>>> This news to you? >>>> Through incredible arrogance, greed and >>>> stupidity, >>>> America has brought the world standard of >>>> living >>>> closer together...unfortunately, by reducing >>>> the American standard of living toward that of >>>> rural China. >>>> >>>> It's gonna get much worse. >>>> >>>> Thank your lucky stars that you lived through >>>> the age of American Prosperity and by careful >>>> planning for the long term... >>>> Not having kids, >>>> Forgoing conspicuous consumption and >>>> instant gratification... >>>> you have arrived at retirement with a few >>>> million bucks saved up to get you through >>>> the continuing economic darkness. >>>> >>>> God Bless America! >>>> She's gonna need it. >>> >>> >>> >>> Spending money you don't have, to buy stuff you >>> don't need, to impress >>> people you don't like, will do you in. >>> >>> At the very least those who contemplate >>> retiring ought to have their >>> mortgage paid off, a new paid-for car, and no >>> credit card debt. >>> >>> Without the foregoing payments you'd be >>> surprised how little money is >>> required for day-to-day living. >>> >>> I think under the scenario I describe property >>> taxes would be the >>> single largest expenditure. Or perhaps it is >>> food or booze. Your >>> choice. >> >> You must live in a place that provides you free >> medical care. >> My medical insurance gobbles up half of my gross >> pension income. >> Tax man gets about half of what's left. >> > > IMHO, insurance is what's wrong with this country.

I wonder if "mike" is getting his money's worth. I think that insurance is about the stupidest form of gambling there is. The only way to win is to lose. You're essentially betting that you'll get sick or injure yourself, in which case you'll get more than your money back. Same with any other kind of insurance; the only way to win is to lose.

I also once read someone who wrote, "If you buy insurance, you will need it."

I know that the only times I've ever had a car crash that cost money, I had had insurance. The times when I didn't have insurance, I didn't crash.

But I'm one of those annoying Libertarians who takes responsibility for the consequences of my own actions.

Thanks, Rich

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Rich Grise
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