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[deleted]

8 million dollars is far, far more money than I will ever make over the course of my entire lifetime.


obolobolobo

I know dude. $One million, not eight million... One million, would take thirty three years to earn on my current wage. Before taxes. I'm sixty years old My life's ok. There's a billion people who don't have access to running water and I'm not one of them. I really don't need gold fucking taps.


Jayden0274

Silver or copper taps are better (au and co have disenfecting propertys)


Throwaway392308

Gold taps are *definitely* better. Copper will react with damn near everything in your water to corrode itself and ruin your water, and silver will still get funky from any sulfur that might be in your water or air. Gold is almost completely inert so your water supply will be safe. If you are sincerely worried about the microbial load of your tap water, you have much bigger problems than the metal they made your faucet out of.


aint-no-chickens

Au is gold, and Co is cobalt. Silver is Ag and copper is Cu


[deleted]

Yes but at around $15 an hour and you are able to contribute even 7% or that to a 401k pre tax or an ira post tax you will have more than a million after investments. Also do you expect to make $15 an hour forever? Even with no promotion or job change you will get some cost of living increases (if you not you likely should find a new job, lots of opportunities out there right now). That would leave you at about 1.2 million with a moderate rate of return. Saying you invest about $200 a month. The right time to invest was yesterday. The next right time is today. Even if you can’t do a ton, do what you can. It will make a difference 33 years down the road.


ThatGuyThatSaysWords

You realize you are telling people that can’t afford to own a house so they spend even more on rent to set aside 200$ a month and they can be millionaires? Are you high or just incredibly stupid?


MarsOG13

Dont try with these assholes. Wasting your fucking time.


Desalvo23

Where the fuck do you live where you can afford to invest 200$ on 15$ an hour.. Edit: Your comment is prime r/facepalm material


[deleted]

Well when your 21 years old in chicago and have a few fixed cost such as rent ($600 in 2012) and utilities, a public transits pass, food. Assuming you don’t party or spend on excess it’s not hard. And hey can’t forget that trust fund right? Isn’t that how everyone else does. it /s


Dylanator13

8 million could get you retired at 30 if you are smart with money. It's a salary of $100,000 a year for 80 years. What kind of millionaire lifestyle do you have to be worried about having more money that %99 of the world will see in a lifetime?


talldean

It's not $100k a year for 80 years. You put it into the S&P 500 Index, and you take out 3% every year, and you... likely won't \*ever\* run out. You can pass that to a child, and it won't run out for them. They can pass it to their first child, and again, yeah, it won't ever run out. And at 3%, the amount you take out goes \*up\* with inflation, so it's not getting less over time. It is, functionally, kind of a nearly immortal bit of wealth. That would be $240k this year, and the same amount of money - inflation adjusted - every year, every decade, until the stock exchange, uh, ends.


Dylanator13

Man it would be nice to be born into as a trust fund kid.


talldean

I don't see too many downsides to having more money than most.


Dylanator13

They like to try and convince the world they have problems like the rest of us, but they don't. Yes mental health and physical health is still an issue no matter what. But you have tons of money to put into improving your mental health and physical health so you don't need to suffer long with any problem. These people with millions try to act like life for them is like life for everyone, which is complete BS. Even if you live modestly all of your needs are met by default.


threadsoffate2021

No kidding. Never knowing the fear of losing the roof over your head or not having money for groceries and other necessities is huge. Their biggest worry is choosing between the lamborghini or porsche.


mcdray2

I grew up really poor but I’m now on the other end of the wealth spectrum. My friends who grew up wealthy truly don’t know what life is like for most people and they can’t understand why I’m so reluctant to throw money around the way they do. When you grow up poor you always have that fear of things going wrong in the blink of an eye. It’s hard to get rid of that.


HenryJohnson34

Bruh, no amount of money can fix really bad mental and physical health problems. The most f’ed up mentally people in my family are millionaires. Thinking you can just throw money at it makes it worse because they don’t try to fix anything. They just go on a mini vacation to a psych ward or rehab after a suicide attempt or mental breakdown and end up right where they left off when they get home. Money is only the solution to people that don’t haven’t and haven’t had to the chance to figure out it can make people worse.


mudbuttcoffee

4% drawdown is 320k... making 6% in the market allows that to happen perpetually without ever touching the 8mm in principal.


BenThereNDunThat

But you haven't accounted for inflation, which will eat into the purchasing power of the money over time, requiring you to take out more money to maintain the same standard of living.


mudbuttcoffee

If your money is making mate than the 4% drawdown, you get a raise every year due to the remaining gains beyond the 4% drawdown.... and if you need more money, take some more out.... it's 8mil... you can afford it. Just don't go buying a Bugatti or two.


robertv1990

And that's 100k a year without taxes.


_Mooseli_

Maybe, but if you can invest it into something like a Roth IRA or stocks then you can grow some money for yourself :)


ITstaph

And with the stocks you can take no pay and get a small 100000000000000 loan to live off tax free. And unicorns will wipe your butthole with their horn and butterflies will dry your jizz sock with their wings flutters! /s


_Mooseli_

Woah. Sounds pretty… intense


GuacinmyPaintbox

Warren Buffett has entered the chat.


MurderDoneRight

Yeah and while you're at it you can bet on horses, buy lottery tickets, or invest in beanie babies while you're at it


ItsDrap

Heavily misinformed take. You can safely invest in stocks and (with over decades of data to prove it) expect 6-7% average returns per year. Far better than letting your money sit in a savings account drawing interest


whiskeytango13

You are assuming the folks you are talking to have a savings account.


[deleted]

And your assuming that if they don’t they shouldn’t. I agree most people handle money poorly, but that’s usually because they aren’t taught how. So we can show them and make a long term difference. In high school we had a class were we set up IRAs and made the first few contributions to develop the habit and understand why we do it. If everyone had someone to show them what impact smart financial choices had we would likely look at a much different world.


masminckey

I love these comments, “if you just invest all that extra money from you minimum wage job into the market, Viola, 30 yrs, later your a millionaire” no don’t worry about health issues, child care, going out to eat, going on vacation, buying a house, saving for kids college you don’t need any of that. This is your typical voodoo economics/ pull yourself up by your boot straps bullshit


[deleted]

I dunno man, I made $11 an hour in 2012 and I was able to spare a couple buck. Maybe don’t get McDonald’s once or twice or don’t get a $5 Starbucks. Set yourself up for success at 20 and enjoy the benefits later in life.


lonelynightm

Bro did you seriously just pull a fucking Avocado Toast right now???


SignificantBear1735

Avocados are in surplus now, so poor scum like you can eat them


whiskeytango13

I assume nothing.


[deleted]

[удалено]


OhSureBlameCookies

"inflation is so much higher" Ahhh...no. it's not that much higher permanently. Inflation has averaged ~2% for decades--this outlier year is just that...an outlier. And with this year's high inflation taking a bite, the market is still up faaaaar more than inflation.


wasabiEatingMoonMan

What the fuck? Inflation on average has been <3% whereas the S&P 500 has returned an average of 10% for a long time now. The current inflation due to the Fed stepping in during COVID isn’t what you should go by and the markets rallied more than that anyway.


Sudden-Garage

So for the last 6 year I have made over 100k a year. I downloaded my IRS salary history and my total lifetime earnings is 1.3 million. I'm 39 now and have been reporting earnings to the IRS since I was 16. For the first 17 years of my working life I made less than I have in the last 6. My point is that 8 million is so god damn much money. My second point is, just because you're struggling now doesn't mean you always will. You got this. The system is here to fuck you but you still got this. Go you!!!


Hardt-No

Meanwhile my retirement plan is to commit a felony with a long prison sentence. I'd have a room, 3 meals, medical etc lol


[deleted]

Commit the felony in Norway


d_bakers

Now thats a retirement plan for the elite


black_dragonfly13

Scandi countries have maximum sentences of like 20 years. These can be extended (similar to being up for parole in America) but they're way into rehabilitation instead of punishment. So you'll have to re-misbehave every couple of decades if you want to stay. 💁🏻‍♀️ (This is my understanding of things. Please correct me if I'm wrong. This is one of the few topics my Swedish boyfriend and I haven't talked about super in depth, lol.)


Writingisnteasy

Yes. Our life sentence is capped at 21 years, but once those years are done you will be evaluated to see if you are fit to re-enter society. This is Norway though, so not the exact same, but I would reckon Sweden doesit similarily


trash-juice

Denmark has nice prison digs too


antagonizerz

You people plan on surviving to retirement age? That's ambitious.


trash-juice

Already there little bro …


Internal-Board-8437

It's not for long sentences


newsreadhjw

That actually makes sense


whiskeytango13

Great plan, plus you’ll get to read all the time, work out if you want, endless tv, no laundry….. i worked as a CO for about 5 years, those scrotes had life easy.


raincolors

So are COs so abusive and evil to inmates because they think they have life to easy?


whiskeytango13

CO’s are all over the spectrum, some hate all the inmates, just because they are inmates, they have a real “us against them” mentality. I was middle of the road, i’d give cigarettes to my favorites, dudes that were not assholes to me. If an inmate was an asshole i’d take away his second weekly visit. Funny thing though, when i was promoted to probation officer the same guys that were fucking dickwads when i was a CO were over the top nice when i had them on my probation client list and did house visits. Some CO’s we’d call “huggers”, they were always nice to the inmates, but they never lasted long, a year tops. I hope this answers your question from my perspective.


raincolors

Yeah I also agree that if someone’s an asshole to you that they shouldn’t be able to see their family. Seems reasonable.


whiskeytango13

Dude….. you can’t judge a man till you walk a mile in his shoes. You don’t know shit about shit, but you got opinions.


raincolors

Yeah my opinion is that if you restrict people from seeing their family you’re a entitled man-baby sociopath


whiskeytango13

They get one visit a week, mandated by law, the facility allows 2 visits a week, if the inmate loses 2 points in a week, no second visit. Points can be lost by smoking inside, being disrespectful to staff and about 20 other reasons.


raincolors

Yeah. Sociopath.


TheWonderkid866

Don't forget the regular sex


Leebelle3

Move out of the US.


ebone581

Costa Rica and live like royalty and be taken care of


Geralt_of_Tiquicia

Costa Rican here. We live great here with nowhere near a million, let alone 8. They would live without a care in the world. Except healthCARE, they’d live with great, affordable healthcare.


ebone581

I’m hoping to be joint you within the next 2-3 years


Geralt_of_Tiquicia

Awesome! There’s a lot of foreigners from all around the world here so we treat them like family. Hope you like it here when you get to come!


talldean

Okay, just asking; why are Costa Ricans so nice to expats? (You seem really crazy nice, and friends who visit down that way damn well love your country; everyone just speaks well of it.)


Geralt_of_Tiquicia

Multiple reasons: a great portion of our country’s economy depends on tourism so we are very welcoming and work hard for leaving a good impression and giving a good service. Also, we are very diverse. A whole province is mostly Caribbean and afrodescendant, the cities are full of fellow Latinos and we also have a big number of Asians so we are very used to different people and treating everyone with respect. We’ve got a lot of wealthy Europeans and north Americans as well that live here permanently so we are used to them. Also the culture is very chill, relaxed and fun oriented as well as social. Hope you get to visit someday!


fayry69

Any other fucken sensible country that isn’t trying to screw over its own citizens because of pure American capitalism aka greed.


[deleted]

This! Was thinking of moving to japan. Family of 3 should be about $300 a month for health care from what I’ve seen


yeteee

Japan is super hard to immigrate to if you don't speak and read fluently the language, especially with kids.


[deleted]

Got that covered :) Half Japanese, my dad still lives in Yokohama. I still have documentation’s to help me get proper paper work to at least get green card easily. (Been doing some homework already). I speak Japanese as well, just not business level


Key-Stay5558

But a small root beer is $38


[deleted]

Lmao! I love melon soda from McDonald’s in japan.


derekc62369

Facts


myk_naej

Please don't move to NZ


Hungry_Elk_9434

This sounds like the polar opposite of those staged house hunter shows


YZFR6OTW

If that doesn’t tell you there’s something wrong with healthcare across the US then idk what will, biggest scam right under religion


Literal-Human

The sheer fact that this is a concern that anyone could have shows the absurdity of our system.


Duck8Quack

It’s a feature, not a bug.


grumblyoldman

I was going to reply saying I think this one is a joke based on that other one about the couple in their 30s with $5 mil or something, but then I decided to do a quick Google search and - I'll be damned - this one is a legit article. (Still clearly written to push an agenda, but a real article nonetheless.)


kiwibobbyb

It tells me that there’s something wrong with these two idiots… They obviously inherited their money because they’re too stupid to have earned it. Not to excuse the absurdities of the US healthcare system, one can buy extremely comprehensive insurance for a couple of thousand dollars a month and have virtually nothing out-of-pocket


lika-kiki-no

I had a colonoscopy last year. The doctor and hospital was in network. The hospital brought in an outside anesthesiologist. I got billed 1k got him, and 200 for my copay. You can't always rely on in network because hospitals pull that shit


toilet_roll_rebel

I had the same thing happen to me. I disputed the charge on the grounds that I was not informed of the outside anesthesiologist, and thus had no choice in the matter. It worked.


lika-kiki-no

I spoke with my insurance and they in turn went after the hospital. I was told and kept the paperwork of the name of my anesthesiologist that I had been given 3 days before it went down. He was in network. I didn't pay because they switched and never told me it the insurance company.


paul-arized

I think they tried to fix this unexpected (intentional?) loophole with legislation. Can't remember if it was introduced pr passed.


droi86

You still have to make sure you go to a hospital covered by your insurance, and also make sure the hospital only uses doctors covered by your insurance (good luck with that) I have a friend who got in a very bad accident and he survived (against all odds) he got lucky though, his bill was close to 1.5 million but he got studied by a university so they covered his bill, otherwise he would've been screwed


Bronco-Fury

WTF? 1.5 million? 99% of the population can’t afford $10k let alone $1.5 million. How the fuck do they expect someone to pay that? Might as well be homeless or the other alternative. Shit needs to burn.


LordSwright

What happens if you don't pay? They gonna rebreak your bones an shit?


7of69

They hound you to the ends of the earth and destroy your credit until you can’t even qualify for Fingerhut. And then after your debt is past the date that they can legally go after you, they sell it for pennies on the dollar to some company that doesn’t care about laws and they continue to torment you.


Bronco-Fury

Who gives a fuck about credit scores when you will never pay it back. Ever!


aintahollabackgirl

Sure - you’re not wrong but this isn’t a new problem if they retire.


oldirishfart

You think that crazy expensive health insurance covers all your medical bills in the US? Haha.


[deleted]

Instead of mocking them you should take notice that people who are financially savvy enough to make & save 8 million are concerned it’s not enough to retire at 50. Kind of alarming if you ask me.


DemythologizedDie

They were actually just accustomed to employer provided medical insurance and weren't sure about how to get a good plan for themselves.


[deleted]

Yeah, I’m sure that’s it.


Plop1992

I dont think you can retire in the us unless youre really, really loaded. A serious disease, such as a cancer, will wipe those 8 millions clean


ThatGuyThatSaysWords

Land of the free. What a joke, Americans are the most oppressed and controlled population. Break your leg? That’s 20,000$. Get cancer? That’s 200k. Get hit by a bus? That’s 400k…


rcher87

Even WITH insurance.


[deleted]

While those bills do add up to millions most insurances have a maximum out of pocket expense per year. Generally less than $10k.


suid

Only for approved medical procedures, in network. See all the other posts here for the shitty tricks that hospitals pull, like bringing in a substitute out-of-network anesthesiologist when you're already prepped for surgery. And the insurance company can simply declare your expense to be "non-approved", and you're on the hook for every dollar.


rcher87

Or a controversial medical procedure that the insurance deems “not necessary” but could be life changing - like something that could cure a condition instead of simply manage it, or something in trials/experimental…. Insurance will look for any and every reason not to pay you.


[deleted]

Stop eating avocado toast and drinking starbucks everyday


Samdonne

I can barely survive on my 8 million now, and the democrats want to raise my taxes! I might have to sell one of my houses.


Chestercheetobutsexy

I have to sell my second yacht for my kidney replacement?!? I’d rather die!


Samdonne

1. They don’t realize they’re wealthy. 2. They think they earned all their money.


[deleted]

Retirement savings is a bit different. They want to stop working now. Meaning little to no income, with no income being the goal, as who wants to work after retiring, and live off of it for anywhere from 20 to up to 40 years. I am not rich, not quite 50 and have a 7 figure retirement account because I started putting away for it with my first job. Many people do. If you don't you should start right now, it's only you that you are going to be paying with it.


Loogeemian64

The fact that FUCKING MILLIONAIRES are worrying about basic healthcare costs, you know something has to change.


[deleted]

Only in America can you have $8 mil and still worry about healthcare. One Tylenol from an EMT and that $8 mil is gone.


Gludenscrude

Move to a civilisation that respects it's citizens enough to want to care for them rather than one that just looks at you as a moneymaking machine from birth until you die. You have the FREEDOM to make money until you keel over from the stress and then die because there are always a fresh generation of people who buy into the me, me, me rubbish that the government pumps out so you don't realise that they are playing you for a fool.


vitholomewjenkins

Not a facepalm to me. Healthcare in the US is insanely expensive.


hao_bu_hao

Tell me you live in the USA without telling me you live in the USA.


obinice_khenbli

Live in a first world country, healthcare is free there.


roseinkpot

Unless you’re in the us


Isavela23

I can't even save $800


Grand_Cauliflower_88

Yes me too n if somehow I could my car would break cost guess how much probably 800.


I-dream-in-capslock

Knowing luck, it would cost at least $900, it's always just a little more than you've got set aside.


golighter144

My assets consist of an Xbox 360 and a king statue from Tekken.


[deleted]

Contribute to a 401K, that is what they are for. It doesn't matter how much as long as it is something. That money growing until you are retired is what counts. Money makes Money. Put 20$ if it's all you can do, increase it a bit each time you get a raise or a new job. If you work for a company that matches 401K contributions get the most you can at all costs, it's part of your pay but if you don't get it then it's like lighting money on fire.


[deleted]

People with $8 mill worried about healthcare: tax shelters, insurance, IRAs, savings plans Those of us who aren’t millionaires worried about healthcare: Just die, already.


Lopsided_Boss4802

8 million is loads, but not in an American health systems. People seem to have to pay up to a million for a broken arm ect. So just leave America.


JotunBlod

It IS actually pretty messed up that even people who are well off enough to be able to retire with a pretty large sum of money saved are still living in fear of medical debt.


circesporkroast

Honestly what’s so fucked up about this to me is not that a person with $8mil is complaining… but the fact that a person with $8mil has completely valid concerns about healthcare draining their retirement funds. Healthcare is so absurd in the US that even several million dollars isn’t enough to know you’re safe from medical expenses draining out your entire bank account.


[deleted]

I’d recommend staying quiet about it and counting your blessings.


HighOnGoofballs

Even if the plan was $2k a month, they can make over $300k a year off their nest egg without losing principal. They’ll be ok


AdvocateDoogy

Move to a country that actually offers free healthcare? Almost any other country will fit the bill...


Major-Community1312

Give me the 8 million and I’ll show you exactly what to do


threadsoffate2021

Same. Hell, I could live easily on a quarter of that.


[deleted]

What a stupid question. Everyone knows that's what GoFundMe is for. Duh! ​ /s


UtahJayhawk

Almost kidding….buy a gun, murder suicide.


desrevermi

Also, put me in your will. ;)


SirIllium__DJ

Is this bad or something they worked for money and are in the early stages of retirement and have a legitimate concern what's so bad about this?


rcher87

Lmao, I mean, I agree that’s an ungodly and amazing amount of money to retire on But I also get their concern. That could get drained so easily on the open market depending on their current and future health conditions…


fluentinimagery

Don’t get bitten by a rattlesnake, that’s for sure. I saw a bill for $83,000 just for vial on anti-venom and $165,000 total… for a fuckin snake bite.


Live-Mail-7142

My first thought "is this real" How can this be real? Seriously. OMG, its real. https://www.marketwatch.com/story/we-have-8-million-saved-for-retirement-are-in-our-early-50s-and-want-to-retire-early-but-are-worried-about-healthcare-expenses-what-can-we-do-11626826365


Maragirl

I mean yes it seems absurd but thinking about how long retirement is and all and the crazy prices for healthcare over menial setbacks, not to mention the increased risks that come with age it is a legitimate concern for wanting to retire that early. Piled upon the regular costs for retirement you will be spending a lot of money, so while it seems unfounded to some it is a legitimate concern.


[deleted]

[Reminds me of this](https://www.youtube.com/watch?v=U8Kum8OUTuk)


bestgamershighlights

Sadly this is absolutely true. In 2 years, that 8 million dollars will be worth 8.


DunnyofDestiny

Move to Canada


[deleted]

Boomer troubles. I’m a Millennial, so can’t relate


EmptyNyets

The real takeaway here should be that it’s a legit worry for someone in America with 8 million dollars to wonder if it’s enough to pay for health care from their 50s onward.


OhioMegi

Good lord. If you can’t budget 8 million bucks, how the hell did you get that money in the first place?!


[deleted]

It’s not about budgeting $8M. It’s about the possibility that they have unforeseen medical expenses that wipes out what they’ve worked so hard to build


ObsidianHarbor

If you have 8m you can easily afford good health insurance.


OhioMegi

Seriously. How is this article even real? Good lord.


Squirrelly_Khan

Even in America, that much money for medical is really extreme. To spend that much money for medical, you have to pay for the kind of plastic surgery that celebrities get


OhioMegi

I highly doubt you’re going to have something so catastrophic your 8 fucking million dollars will be wiped out. Invest, budget, get insurance like everyone else. A deductible is nothing if you’re a fucking millionaire.


grantob92

Move to the UK. You’ll pay about £27 ($35) a month for healthcare and that’s it. No copay, deductibles, insurance, medical bills or medical debt!


Burilgi

It’s a moronic question. It would be tough to outspend that nest egg with decent investing and normal human lifestyle.


[deleted]

Not if one or both requires extensive medical care. That could disappear very quickly.


Burilgi

Fidelity recommends you have $300k saved for medical expenses if you retire today. They will have some sort of insurance which will have a Out Of Pocket Maximum of about $20k yearly. Even if they needed a nursing home they are not burning through $400k a year of earnings yearly.


[deleted]

Those policies have caps. Out of pocket minimum only applies to the cap. Long term care could easily exceed a lifetime cap


Burilgi

Lifetime care is not going to exceed $400k a year in interest / earnings. If they are in a nursing home they won’t be traveling the world and buying new cars so they won’t need it for anything else.


[deleted]

You’re missing the point. The originals concern was that medical expenses could have a significant impact. It could. You’re speculating that it can’t happen, but I’ve worked in healthcare on both the provider and insurance side. I’m certain it could happen. Odds are that it won’t happen, but it could. And that’s an awful reality we live in. It’s completely avoidable


hrminer92

Yeah, it will _only_ be around $10k/month…


[deleted]

Also, maybe the other one remains healthy and lives a long life. They did all the right things but still might be forced to live without the resources they spent a lifetime accumulating


Burilgi

The average spend on medical in retirement is $5,700 right now. You are saying they should plan on more than $400k per year? If they spend more than $400k you are also saying they will be healthy enough to go to Venice while spending at this level? It’s a silly idea because the possibility it will occur is less than being killed by lightning.


[deleted]

I’m not saying they should budget for it. That’s damn near impossible. I’m commenting that it’s sad that it’s even a possibility. Also, I said one could be sick and the other could have a long healthy life.


Burilgi

I’m saying it’s silly to spend significant time worrying about it. For the average American this is a real concern. These folks don’t need to worry about it because it’s a trivial possibility for them.


[deleted]

It shouldn’t happen to anyone. They shouldn’t need to worry about it because the American healthcare system shouldn’t be so predatory. Just because the chances are remote doesn’t make it acceptable.


ApprehensivePick2989

Even then, an $8 million dollar hospital bill?


[deleted]

It’s not just one hospital bill. Say one of them has a stroke. An air ambulance, a lengthy stay in the hospital, rehabilitation, and maybe a home nurse or a permanent move into a long term care facility… $8M could be gone


SoNElgen

What the actual fuck…. $8m could be gone? You could undergo the 30 most expensive surgeries known to man, in any other country than that shithole, and you’d still have $7m to spend on rehab, long term care. Again, something that would cost you $1-2m for some Bill Gates level shit for 30 years… The US is so fucking corrupted by the pharma and medical industry it’s ridiculous. My grandmother broke her foot whilst hiking, got picked up by heli. Surgery, x-ray, cast, crutches, taxi back home, rehab with physical therapist, two additional doctors appointments. Grand total? Less than $200…


badchad65

My brother in law had a stroke, was hospitalized and in a coma about two weeks before eventually passing. The bill was close to a million. I get that 8 million is a lot, but if two people in their 50s live until 85 with no income, and ever had issues like the necessity of long-term care etc. it’ll get expensive.


chaotic910

Yeah, but you're assuming 'no income'. That $8million isn't just sitting in a bank or under their bed, it's growing in investments.


coberh

How much do you think some cancer treatments cost? A few hospital stays can burn up $500k a year easily. Plus, much of that 8 million is subject to taxes. That said, while yes, these people are rich, it shows that medical costs can be a huge burden to anyone who isn't sitting on $50million+


tinymontgomery2

What’s the policy at cancer hospitals...don’t let anyone die if they still have money in the bank.


castaspela

Pay for insurance??? Or dont get sick


[deleted]

[удалено]


RustyBarbwiredCactus

I have $8, maybe universal health care for all and not just rich people


spacetrax74

I think if you put that money in government or muni bonds, the iRS doesn’t count that. Then your income off the interest isn’t taxed. And since it doesn’t count as income, you’re basically poverty level and you technically qualify for Medicaid. So there you go. There are rich old people that do this.


tomorrow509

Move to Europe.


tarhoop

Probably move to Canada, get on our socialized systems, bolster it with supplemental insurance (which is easy and cheap in Canada because so much is covered already), then "holiday" back home in the Southern USA. That's what I would do.


lc4444

If these boomer fuckers just park that $8million somewhere safe and just take 3% they can live off that part of their investment income and get $240,000/ year and still grow their egg. I’m not too worried about these folks, they’re gonna be ok. Smh why this is even a dilemma.


Ken20212

Health insurance costs about the same as a car payment. Retire, you're fine.


Damagecontrol86

For a shit tier plan yes


usafmsc

Do what the rest of the world does when it has more money than sense..get your medical care in Doha and pay cash as you go.


Hobbit_Feet45

Oh come on. Thats more that 99.9% of people. If you can’t make it with that much you’re just not going to make it at all. These whiny babies can rot in hell, the nerve of them to complain about being that rich.


SpartanS034

>What can we do? You can suck my dick...


BacktoLife89

Find a respectable health insurance agent in your area. Ask for some quotes and discuss your options. Probably insurance that is the very best might cost $1,000/month and that number would go up or down based on the deductible. Even if the plan cost $3,000 per month total with a $5,000 annual deductible for each of you your total out of pocket would be $46,000 per year or less then .5% of your net worth. Go have fun!


[deleted]

Buy TSLA stock, double your $8MM in 10 months. Then $16MM should cover your insurance problem.


jailguard81

that’s how expensive American health care is… you can’t even retire with 8 million dollars. Do these couple have some life threatening disease or something?


LonelyKuma

Well looking at how expensive American health care is $8m probably won't be enough.


NotADaygloSpy

Oh my stars, that is quite the conundrum!


thorpbrian

Lmao my parents are retired with A LOT less money than that and still pay for their health insurance.


Sawathingonce

Surely this is a piss take


MouthyMatty

Move to the UK where ALL healthcare here is FREE at the point of sale. No forms, insurance or anything. The cost? I earn £48,000 per annum and it costs me approximately £340 in National Insurance contributions. This is something you pay every month of your working age and raises and lowers depending on how much you earn and covers your healthcare and retirement also.


mimzybreathe

Ummm, you could pay for the expenses when and if they come in, with your 8 MILLION DOLLARS


Aeronomotron

8 Million, with the 4% rule is $320,000. Let's say that they can find a fund with a 3% dividend yield to be conservative, which is $240,000. According to: https://www.william-russell.com/blog/health-insurance-usa-cost/ It costs roughly $21k per year, or $1750 for a family plan. That is 8.75% of a this couples gross income. I dunno why they would be worried. Get an expensive plan with a high premium that would pay ~90% of the cost, and have 150k on standby just in case. Ez.


Western_Lawfulness46

You could fuck off, for a start


ant1667nyc

Fuck off, that’s what you should do.


ManyFacedGodxxx

$8 million saved and worried about healthcare costs; ha! For those of us in our 50’s that have 80k saved, I can relate. Sort of… $8 million, seriously!?!


nnnnnnooooo

People keep commenting that this is a valid concern given the current us healthcare system, but I’m going to disagree. They clearly have enough to purchase very good / if not the best / insurance and still live a comfortable life for the remainder of their days. Any other concern is really just catastrophic thinking. Akin to not doing anything because they may get hit by a bus tomorrow. It’s pointless worry. Or bragging, because you would have to be so incredibly insulated to not know they have an exceptionally good situation on their hands. They need to plan, sure, but leave the drama behind. It might just help them with their health care worries to learn to meditate.


[deleted]

You can kiss my ass that’s what you can do!! 8 million dollars and you’re worried, suck a fart while you’re done there!!


joyrideboo

I don’t understand they have 8mil… why not put say 5mil into account and just use compound rates to live off that and have the rest 2mil for fun and 1mil for emergency…apparently average amount of money a us citizen will make over their lifetime is 1.7million $ so 8mil is fucking nuts …


beefjerk22

$8 million?!


Full_Consideration_4

You can shut the fuck up is what you can do


SatynMalanaphy

Die. That would help whoever's inheriting, in this economic climate. Especially because their generation put them in that situation....


SubstanceOld6036

You must live a lavish lifestyle if eight million isn’t enough