Would any of these disasters that could wipe you out be any different if you were still working but not retired? If you are in an assisted living facility, you arent working (you were probably just forcibly retired). If you are lucky, you have disability insurance through your employer. But that may not cover the expenses. Also if lucky, you could have an employer that keeps you on the payroll in medical leave. Lower level jobs wont have any of this. Even if you have it, at some point you are kicked onto social security disability and terminated from your employer. You could be worse off than the retiree who has 2 or 3 million if this disaster happened to you when you were younger.
So really, some of these disaster scenarios could require younger people to buy disability or long term care insurance. Most young people dont buy that.
So really, some of these disaster scenarios could require younger people to buy disability or long term care insurance. Most young people dont buy that.
Statistics: Posted by suemarkp — Thu May 16, 2024 10:58 pm — Replies 56 — Views 3959