Finding Affordable Health Insurance in Retirement

One third of all Americans have nothing saved for retirement, or don’t have life or health insurance. Are you one of them? Even if you do have some money set aside for your retirement, you may not be saving enough. Do you know how much you need to save today to assure that you can maintain the lifestyle you lead now throughout your retirement?

Many people are confused about how to start saving for retirement. The numbers can be daunting, and there are so many choices for savings out there that you may be overwhelmed by the possibilities.

The first step to saving for retirement is figuring out how much you need. This will be based on how much you feel you need per year during retirement to pay your bills while having money left over to travel, play golf, or take up a new hobby that you just don’t have time for now. Once you determine the amount in today’s dollars that you need, you’ll need to figure out how much that will be whenever you retire. Inflation drives up prices, meaning you’ll need more at retirement to pay your bills and live comfortably than you would need today. A financial professional can help you determine how much you’ll need to save to cover your bills and hobbies.

The next step is simple: save! While the concept is simple, it’s not necessarily easy to do when you consider the fact that you have many choices, all of which will be driven by your current age and the age at which you’d like to retire. Riskier investments are typically reserved for those that have a lot of time before retirement to recover should the investment go poorly, while safer investments are recommended to those close to retirement age.

Keeping your personal finances in order and being sure to stick to a budget will help you have enough money left over after the bills are paid to put money into your retirement savings. The more you save now, the more comfortably you will be able to retire.

One thing that can drain your savings quickly is having a medical emergency without holding insurance. Health insurance is essential to assure that your retirement account won’t be depleted in case of an emergency. If you’re concerned about finding cheaper insurance, there are many sources online that can help you find the right kind of insurance for you. Having health insurance can give you some peace of mind that you won’t have big bills leading to financial ruin, and cheaper insurance can keep the costs of that peace of mind down.

 

 

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  • Here’s my tip for you fuckers who still don’t unaedstrnd that CPF:1. The “deduction” is a tax on both employer and employee2. The system itself is a PONZI SCHEME aka legal (under law made and passed by parliament) pyramid scheme , just as tax is a legal form of extortion and robbery, NS is a legal form of slavery and the death penalty and war are legal forms of murder/ homicide.What the state can do legally, individuals cannot.What is going to happen: The Ponzi Scheme will go bust if the government doesn’t tinker with it.Therefore from time to time, the government has to put in more “restrictions” because the MAJORITY OF PEOPLE still live with their head up their pantat, and convince themselves that what they smell are the sweetness of roses.THAT’S how deluded most people are. (What can you do? Nothing!)So what you should do is GRAB AS MUCH AS YOU CAN…when it is offered to you.If the govt offers a grant — GRAB IT, and grab it without the slightest tinge of guilt. Don’t ask for elfare or grants…but if it is offered, be very quick and put your KIASU instinct to good use and grab that sucker ASAP.Singapore’s sovereign debt level is on par or worse than Greece. Lucky, no foreigners hold the debt. However, debt is debt…someone gotta pay at some time.I suspect CPF is used to secure that debt, which means bury any hope right now…. “your” so-called “savings” are sunken money…gone, gone, gone.Voting in another government won’t change the fact that the money is technically not yours and probably not there.

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