Reply to Why save for retirement if medicaid will cover your costs!?!?

Forum Index » Money and Finances

Reply to "Why save for retirement if medicaid will cover your costs!?!?"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous]I'm glad to see that lots of pps have addressed the fact that Medicaid gets you poor nursing home care compared to being able to pay your own way.  I want to address the concern OP has about whether it's worth it to save.  I see this theme with regard to college grants and aid. Understandably folks ask why they should save when they see people of comparable backgrounds not saving and planning to get aid based on need.

As people have noted, why would you want to have to rely on the hope that need-based aid will operate in the future the way (you think) it does now? There may be a few people somewhere who get some kind of benefit from not saving and then receiving some kind of need-based aid, but why not just feel good that you have that area taken care of and ignore them?  I'd rather go into retirement knowing I have everything covered and feel secure.  It's not a race where somehow the wasters of the world are getting ahead of me.

On another note, thanks for bringing this up, OP.  I've been helping to support a relative who's on disability now and unless he keels over from a heart attack, there's a nasty Medicaid-funded nursing home stay in his future.  Argh. And in the meantime that extra money I should be stashing away in my 401k is going to supplement his disability check.  I think we're okay for our retirement but I wish I could be adding that extra money to it instead of writing a check every month![/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics