Sabot L'ours (sabotlours) wrote,
Sabot L'ours
sabotlours

Retirement

Last week I went to a one-day seminar on retiring from the government. It wasn't as comprehensive as another retirement class I attended several years ago, but it was good to hear about the changes in benefits that have taken place and those that are in the works. Retirement is still about 10-12 years away for me, but it's never too early to start planning. I think the biggest psychological block for me is what is hinted at in one t.v. commercial for investing; going from saving to spending. All I have known since leaving college (and even before that) is that you have to save save save! There will come a time, however, when saving any more really doesn't make any sense unless you plan on leaving money to kids. Even that drives me nuts, however, because my parents were always spendthrifty. Now I'm managing the accounts and there is more than enough money to take care of my mom for years to come. When I add up all of the different sources of income I could potentially have after retirement, there is no way I will stay working a day longer than I have to. I don't understand some people in the office who have more than enough time and the age to retire and yet they stick around. I realize that one of the key issues with retirement is what to do with your time, but certainly you can be doing something better than coming in every day and dealing with the bureaucratic b.s. Perhaps they're up to their eyeballs in debt. Who knows.

One thing I was introduced to was the concept of long-term care insurance. It's not health insurance but rather nursing home or in-home care. It certainly is a depressing subject, but the statistic is that 70% of people will require it in some form before they die. I played around with the numbers, and it's a pretty good deal. The nice benefit is that you essentially can't be turned down unless you're already in a nursing home. Once the open season for enrollment closes, however, you will be subject to all of the health checks required to make sure you're not a high risk. The depressing part to all of this was looking at the various lengths of time that you could be covered. At first I thought that 1 or 2 years seemed like an awfully short time, but then I realized that those lengths of time would essentially be time spent in a nursing home or unable to care for yourself. Would that be a life worth living? Like I told my co-worker, it would be worth it to live for about a year to get all of your stuff in order and then kill yourself. Cheery thoughts!
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