Forum Replies Created
-
AuthorPosts
-
November 1, 2007 at 2:36 PM in reply to: Advice wanted concerning retirement options! Please read #94313
seattle-relo
ParticipantDoes you wife’s insurance continue after the age of 65? The cost of medicare part A and B being around 300 dollars isn’t cheap given the average quality of coverage. I don’t know what type of physical condition you are in now, but one major medical issue can be terribly expensive. Currently open heart surgery (the surgery and hospitalization alone) is roughly $140,000. I think zk makes an important point when thinking closely about not giving up your wife’s health insurnace benefit. I’ll tell you, when an unexpected medical issue comes up, it sure is nice to have good insurance and not to have to worry about paying the medical bills. I’m only 35 years old, young, healthy, exercised and ate right, and had open heart surgery 5 months ago. A sudden medical illness can show up at anytime without warning. After my experience, I will never take good health for granted and would ant the best coverage I can have. Just my two cents…
November 1, 2007 at 2:36 PM in reply to: Advice wanted concerning retirement options! Please read #94351ParticipantDoes you wife’s insurance continue after the age of 65? The cost of medicare part A and B being around 300 dollars isn’t cheap given the average quality of coverage. I don’t know what type of physical condition you are in now, but one major medical issue can be terribly expensive. Currently open heart surgery (the surgery and hospitalization alone) is roughly $140,000. I think zk makes an important point when thinking closely about not giving up your wife’s health insurnace benefit. I’ll tell you, when an unexpected medical issue comes up, it sure is nice to have good insurance and not to have to worry about paying the medical bills. I’m only 35 years old, young, healthy, exercised and ate right, and had open heart surgery 5 months ago. A sudden medical illness can show up at anytime without warning. After my experience, I will never take good health for granted and would ant the best coverage I can have. Just my two cents…
November 1, 2007 at 2:36 PM in reply to: Advice wanted concerning retirement options! Please read #94359ParticipantDoes you wife’s insurance continue after the age of 65? The cost of medicare part A and B being around 300 dollars isn’t cheap given the average quality of coverage. I don’t know what type of physical condition you are in now, but one major medical issue can be terribly expensive. Currently open heart surgery (the surgery and hospitalization alone) is roughly $140,000. I think zk makes an important point when thinking closely about not giving up your wife’s health insurnace benefit. I’ll tell you, when an unexpected medical issue comes up, it sure is nice to have good insurance and not to have to worry about paying the medical bills. I’m only 35 years old, young, healthy, exercised and ate right, and had open heart surgery 5 months ago. A sudden medical illness can show up at anytime without warning. After my experience, I will never take good health for granted and would ant the best coverage I can have. Just my two cents…
November 1, 2007 at 12:58 PM in reply to: Advice wanted concerning retirement options! Please read #94265ParticipantI have some knowledge regarding insurance changes and pre-exhisting conditions (I just had to deal with one in my new insurance – what a pain it was! ) Anyway, if you have “credible coverage”, meaning group coverage that has no gap more than 60 days, the new insurance company can not withhold coverage for pre-exhisting conditions – as long as your had that type of coverage from your last insurance company. If your gap is longer than 60 days, you must wait 6 months ( I believe in CA) to have the pre-exhisting condition covered. Private indivdual and some government plans are different. And yes COBRA is VERY expensive – I think we had to pay 1200 per month for 2 months until the new insurance kicked in. OUCH!
November 1, 2007 at 12:58 PM in reply to: Advice wanted concerning retirement options! Please read #94303ParticipantI have some knowledge regarding insurance changes and pre-exhisting conditions (I just had to deal with one in my new insurance – what a pain it was! ) Anyway, if you have “credible coverage”, meaning group coverage that has no gap more than 60 days, the new insurance company can not withhold coverage for pre-exhisting conditions – as long as your had that type of coverage from your last insurance company. If your gap is longer than 60 days, you must wait 6 months ( I believe in CA) to have the pre-exhisting condition covered. Private indivdual and some government plans are different. And yes COBRA is VERY expensive – I think we had to pay 1200 per month for 2 months until the new insurance kicked in. OUCH!
November 1, 2007 at 12:58 PM in reply to: Advice wanted concerning retirement options! Please read #94311ParticipantI have some knowledge regarding insurance changes and pre-exhisting conditions (I just had to deal with one in my new insurance – what a pain it was! ) Anyway, if you have “credible coverage”, meaning group coverage that has no gap more than 60 days, the new insurance company can not withhold coverage for pre-exhisting conditions – as long as your had that type of coverage from your last insurance company. If your gap is longer than 60 days, you must wait 6 months ( I believe in CA) to have the pre-exhisting condition covered. Private indivdual and some government plans are different. And yes COBRA is VERY expensive – I think we had to pay 1200 per month for 2 months until the new insurance kicked in. OUCH!
ParticipantI love that skit! Very funny – and SO TRUE!
ParticipantI love that skit! Very funny – and SO TRUE!
ParticipantI agree that it can be a blessing in disguise for some people who got over their heads and aren’t taking care of their longterm needs (401K, savings, racking up credit debt to buy groceries) just to pay their outrageous mortgage payment. But how realistic is it for people to qualify to buy a place in the future with foreclosure on their credit? And also how challenging is it for someone to rent a decent place for their family to live? A friend and her husband of mine has a bankruptcy on their credit from 6 years ago and still get turned down by some landlords even though they don’t have any late payments now and make enough money to afford the rent.
ParticipantI agree that it can be a blessing in disguise for some people who got over their heads and aren’t taking care of their longterm needs (401K, savings, racking up credit debt to buy groceries) just to pay their outrageous mortgage payment. But how realistic is it for people to qualify to buy a place in the future with foreclosure on their credit? And also how challenging is it for someone to rent a decent place for their family to live? A friend and her husband of mine has a bankruptcy on their credit from 6 years ago and still get turned down by some landlords even though they don’t have any late payments now and make enough money to afford the rent.
October 12, 2007 at 4:18 PM in reply to: how big of a mortgage will i be able to afford if ……. #88570ParticipantPertinazzio – I come from a family with a long history with the belief that one must own a home. The belief that renting is wasting money and for “deadbeats”. But 6 years ago when my in-laws decided to leave Chicago and move to North Carolina for better weather, they chose not to buy, but to rent. My FIL said that was one of the best things he had ever done. He really, really enjoyed being a tenant after years of owning and maintaining a home. His stress level was so much lower than before and he wasn’t spending time/money maintaining the home. I think for the first time in years my in-laws had fun with eachother and just enjoyed their freedom and the adventures of a new city. Enjoy renting, and your new adventures in San Diego this Spring with your wife. There’s no need to tie yourself down with a mortgage. 🙂
October 12, 2007 at 4:18 PM in reply to: how big of a mortgage will i be able to afford if ……. #88576ParticipantPertinazzio – I come from a family with a long history with the belief that one must own a home. The belief that renting is wasting money and for “deadbeats”. But 6 years ago when my in-laws decided to leave Chicago and move to North Carolina for better weather, they chose not to buy, but to rent. My FIL said that was one of the best things he had ever done. He really, really enjoyed being a tenant after years of owning and maintaining a home. His stress level was so much lower than before and he wasn’t spending time/money maintaining the home. I think for the first time in years my in-laws had fun with eachother and just enjoyed their freedom and the adventures of a new city. Enjoy renting, and your new adventures in San Diego this Spring with your wife. There’s no need to tie yourself down with a mortgage. 🙂
October 12, 2007 at 3:09 PM in reply to: Will honest people start doing dirty/crooked things to bail out of their houses #88551ParticipantI believe if the second was to purchase the home, it is also considered a nonrecourse loan.
October 12, 2007 at 3:09 PM in reply to: Will honest people start doing dirty/crooked things to bail out of their houses #88558ParticipantI believe if the second was to purchase the home, it is also considered a nonrecourse loan.
-
AuthorPosts
