HOW MUCH MONEY DOES IT TAKE TO FEEL SAFE…
Do You Have Enough...
How much money does it take to feel safe.., to know that you will always have enough money to care for yourself -- until the end. It's no secret, at least here in the US.., it can be very expensive to age… And, much to my dismay.., we don't have the same attitude towards the elderly, that seems to exist abroad. It seems many european and asian countries have a reverence for the old, that does not exist here in the United States.
I know money is relative -- how much you need… But Im just talking about meeting your basic needs: housing, food, medical, a few miscellaneous bills.., and maybe even a little for some fun. Unfortunately, for most of the aging, it's the medical costs and that goes for even the "well-to-do…" In the US you are one illness away from financial ruin -- unless your one of the super wealthy.., and over 60% of all bankruptcies are attributed to the criminally high cost of medical expenses in this country.
The US actually depends on all of getting sick as we age.., or just "age related" diseases -- they count on that healthcare spending, so much so -- it's over 17% of the GDP (gross domestic product). Basically, without this kind of expenditure, the economy would collapse. Even if you have planned extremely well for your future -- shit happens!
resource we all have is time." -- Steve Jobs
And here in the US.., when shit does happen -- they leave you up the river without a paddle. The few hospices I've been too, were deplorable.., and depending on how much equity you have, will depend on the of old age home, willing to take you -- money, money, money… I guess, this is what they mean by American Exceptionalism (whatever the heck that is).
So far, all I've mentioned is healthcare and never-ending rising medical costs… What about the rest of your life -- that costs money, too. Just to bring up medical costs, again -- there are elderly people in the US that literally have to choose between eating.., or paying for the medication they need. What kind of day is that.., to spend your golden years -- choosing between medicine or food!
Bag Lady Syndrome
I heard this term when I was living out in LA… I had just started to become friendly with quite a large celebrity (some would say hollywood legend).., and she was moving out of her huge Beverly Hills home and into a tiny 2 bedroom cottage in the flats, she was considering selling the Mercedes and keeping the Volvo… I didn't understand, to me she was a huge star -- Academy Award Winner. But she was aging -- getting old. And while that may be hard on the average person (and it is), it is even harder in Hollywood, for a woman. Aging out there -- is the kiss of death.
After spending some time with this exceptional woman.., and many cups of tea -- it couldn't be more obvious to me, she was afraid. Afraid of running out of money before she died. Afraid of being alone without a safety net. Afraid of aging. And that is when I heard the term -- Bag Lady Syndrome… Fear of losing all your money -- or running out of it!
-- Henry David Thoreaau
But here in America, bag lady syndrome has expanded to all our elderly… The median average savings for someone that is 56-61 is just $17,000.00. And if you happen to be planning on finishing up your life in an assisted living facility -- well, most of them are privately owned and exist to turn a profit, so once your money runs out, the checks stop coming -- you are out on your ass.
With the state of our healthcare system about to change and the ever worrying about when and if your social security will cover it all.., or if it will even be there to bail you out when it's time… It is a harsh reality, that most Americans, today.., are not prepared to cover the financial cost of the rest of their lives. And even those that think they are, could have it all pulled out from under them, with one bad test result…
He Who Dies With The Most Toys Wins
This was a popular bumper sticker in the 1980's… But today a quarter of people 85 and older are dying with less than $10,000.00 including the value of their home, if they still have one. Boy, how the rimes have changed since the 80's… The Center for Retirement Research estimates that 52 percent of working-age adults in 2013 were at risk.., of not having enough when they retire.
No today, instead of it being about the amount of toys you die with.., it's about having to rely on Medicaid, a government health program for the poor. Yes, middle to working class people will most likely die with nothing -- that is if they live long enough. And there is even a EBRI study showing even if you are "well-off" you will probably die penniless if you live to be 85 years old.
― Robert Frost
Maybe I am romanticizing other countries, too much -- I don't know… But it seems to me with the difference in healthcare (everyone gets it).., and a reverence and respect for the aging -- looking to their wisdom for truth. I just don't think the assisted living industry is as profitable, lets say in Italy -- or Asia. But I also don't pretend that the US is the only country where people are literally scared to death about running out of money before they die.., and what happens then...
When here in America.., there is money to be made in aging and dying, so the old are just looked at, as to how much someone else can profit off them. They have been treated as disposable once their money is gone, they have been left to fend for themselves, robbed not only of their money but their dignity.., at the mercy of a system that is mediocre, at best.., when they should be held-up and taken care of -- there's nothing exceptional about that…
Post Script:
I guess, if I have any advice, it would be -- die young :)) And if you happen to live in the US -- get your aging butt the heck outta' there… But in the end, even with the rather bleak picture I just painted for… I'd like to leave you with this amazing Satchel Paige quote:
Dance like nobody's watching."
REFERENCE:
https://www.allianzlife.com/retirement-and-planning-tools/women-money-and-power
http://crr.bc.edu/wp-content/uploads/2015/03/IB_15-5.pdf
https://www.ebri.org/pdf/notespdf/ebri_notes_04_apr15_eol-polfor.pdf
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I'm 54 and disabled with a spinal cord injury. I got lucky in so many ways. One way is that I've never been affluent but never dirt poor, either. The second way is that I inherited my family home (all 600sq. ft. of it!) and a tad bit of land. Nothing so grand that $300 per year won't take care of the taxes. Now, the part about being poor is tricky. If one can live within that little sliver of income that is neither too poor nor too well-off one finds themselves with $0 co-payments on their medicare (not medicaid), $0 premiums, and super-cheap pharmaceuticals (average around $1 each). The trick is to assess one's personal situation early on and only operate financially within this little sliver. Any other moneies need to come under the table. My home is in a life-trust so if I ever need end-of-life care the house remains untouched and my insurance is good enough to afford a decent place.
Now, having said all that, I must say that this is one messed up way to live in such a rich country! Had I pursued a career and money the way most people do, I would be homeless and derelict for sure, with my savings and home being sold to pay for surgeries, but thankfully I had foresight. When I became disabled, I had no credit card bills, no loans, etc. Credit, I learned early, was best used by those who don't need it.
As far as the elderly not being revered in this country - that is a major problem in my book. But, keeping the young and inexperienced from the old and wise is a smart move if the goal is domination and manipulation.
I've rambled enough. Thank you for posting as yours was a very important post and I hope it has many readers!
Many smiles,
AR
I hear ya @areynolds -- but is that the way it should be, walking a tightrope every month... Thanks for the comment :))
No, sir, it is not, indeed. In a country this rich and having worked since I was 15, I should've felt free to amass wealth without fear of penalty! It is good I am not a materialistic sort. Have a good evening,
AR
Cheers, @areynolds :))
Great post but one that saddened me greatly. After reading it I now understand more why the US is like it is. Meaning it is a hard country to live in care wise/empathy wise. I had suspected this for many years but without ever visiting or living in the US I was not certain. Now I know and I thank your for your honesty. I have never heard any American talk so openly about this awful state of affairs before. I have to say it chilled me to the bone and made me wonder how on earth American folk can go on living in such a inhumane way/society?
I live in Norway and we do not have this financial worry at all. Everyone gets a decent state pension and all are well taken care in their elderly years. Homes for the elderly are amazing. Some are better than others but all are of a high standard. Generally the care homes in the smaller villages are the best because everyone knows everyone and so I guess we tend to take of those we know slightly better.
If you own your own house or property you don´t have to sell it either. What happens is, the Care home/centre takes control of the property and rents it out. The property´s equity value is taken into into consideration. A valuation of the property is made at the moment you enter the car-home and your property partly pays for your care, as well as the state. When you die the house is returned to the family at the original price it was when they entered the home- if that makes sense?
If you have no property then the state pays anyway.
The pension varies in what job you had but even if you had no job you still get a pension. It is lower but you could live quite well. The state pension is backed by Norway´s oil fund which was set up back in the 1970´s-
Norwegian society the elderly are seen as the No1 citizen and as such have tremendous say in things and much respect. There are 4 reasons for this:
3)- they were the generation who built the base of our lives before us and as such deserve respect.
4)- we know that we will all be old one day and so wish to be treated well and take care of.
Our healthcare is also free. Well that is not exactly true. You pay for the first 15% of the cost. After that it is free. If the treatment is for a life threatening illness then is it free anyway.
I know that Sweden and Iceland are pretty much the same.
The only think I know of that is treated strictly with regards to paying for medical care etc, is the rescue service. For example, if you went walking in the mountain and you were warned it was too dangerous due of bad weather, and then you still went out there and got in trouble, you would have to pay for the whole cost of the rescue. I remember a couple of years ago an English guy went sailing on one of those surf-board things. There was a big sign saying "Dangerous conditions. Do not attempt to sail". Many locals even told the English guy NOT to go out there. His reaction was: "fcuk off and mind your own business". He later got into trouble and had to be rescued. A week later he was sent a huge bill. He went to the media to complain and they asked him "Did you not see the warning sign?" If there had been no warning and the weather was fine and he then needed rescuing, then it would have been free. We in Norway think this is fair enough. If you put lives at risk by being selfish then you have to pay the consequences.
In the 1980s film "Dirty Dancing"- there is a scene where the family are in the restaurant. They can´t finish the meal because there was too much food and they were too full. One of the family says "Are there still starving children in Europe".
Also in the film "Spiderman 2". There is a scene were Peter Parker´s mother is having to move out of her house due to her her husband had died and so she could not pay the bank as she had no income . We in Norway were horrified at that scene but it was presented as being quite normal.
Considering the US has been known as the world´s greatest land, from what you are saying, it seems to me that it is now falling behind Europe.
The American system, seems to be based on the idea that no one will ever get old and if you do, then your value as a citizen is stripped away. In a sense, the world is colder the more you become older.
If I printed out your post and showed it to some of my elderly friends.....well I would have to make sure they did not have a heart condition. But if they did have a heart attack. well at least they would get free medical care.
So sorry to hear about this because Norwegian people love America, they really do. They have never forgotten that our Queen Maud stayed with President Roosevelt during the period of the Second world war.
I hope in the future the US can come forward past this idea of a building their society on a kind of survival of the fittest bases. At least for their own benefit when they become old and their future generations.
What an honorable place to live... We have very little -- if any, honor left in this country. We have completely sold out to big business -- it's all about profits. Humanity is way down on the list, if on it, at all. Every European I know, waits until they go home for a visit, to go the doctor.., or get their dental procedures. I know an American who went to Costa Rica to see a dentist because it was 1 - 10th the price to have his dental work done, including the trip.
Im not sure when it was... But there was a huge energy shift (or something) into accepting this kind of behavior, this kind of treatment -- "That's just the way it is.., deal with it" seems to have taken root. They ignore it.., or avoid it -- and try and look at world around them through rose colored glasses... Ignoring the fact, that the homeless rate in this country hasn't been this high since the Great Depression, many of which are the elderly.
It seems to have halted any kind of -- evolving. As a whole, this country has stopped evolving.., and if you're not going forward, you are going backward. America seems to be going backward.., and it doesn't look like there's any change in sight, any time soon. Cheers!
Great question and I suppose this is relative to all of us on an individual level. Generally speaking, we all need enough to cover food, shelter, and clothing - learning, loving, and having fun is all free.
Exactly... But it seems most of us don't...
Cheers @tinyhomeliving
This is where Basic Income needs to happen. In my opinion it is a human right to have enough to cover food, clothing, and shelter...free internet too :)
No doubt!
I work in healthcare and it really bugs me that our entire medical profession is based on the lowest-cost-highest-profit basis. That is fucking evil. It will crash... just a matter of when.
It's disgusting, I know...
very timely post (for me) @macksby, even just this morning I've been looking at numbers and trying to determine the answer to your title! Like @ericvancewalton, it also scares the crap out of me thinking about aging in this country or even just having any number of ill-fortunes can put a person out on the street. We have so much "greatness" here in the US and simultaneously we get such basic values wrong.
And we get those basic values REALLY wrong...
There are times I despair about living here in Canada and then I see a post like this. Some of our social, hell most of our social safety net is a mess but in the end it works to assist the weakest. It may not be great, but it is better than zero.
I pay more in taxes at most levels but if I need to visit an emergency room or a doctor, I don't need to worry about being able to pay for it. If the time comes that I need to be in long term care, I'll be able to access it. It wont be the ritz but it will be a roof over my head, meals and medical care as needed.
Until then, I get to worry about how to pay things like electricity in Ontario.
Yeah, that just doesn't happen here...
It's sad.., and just wrong -- that we don't care of our elderly.
The primary evil is not having the money but it is not having 'humanity'.you see there is enough food and money in this to feed all people but it is unevenly distributed because of the greed of the people.....the rich are getting richer...the poor are getting poorer.......so in the amidst of this someone like you and me questioning 'what is this?' which no one cares......any ways nice post :)
I hear ya -- Cheers!
see this post:
https://steemit.com/shortfilm/@kishu706/reflection-of-our-own-actions
humanity is not yet dead
Great post. There is more than enough money and resources to go around - but the greedy globalists want every last penny for themselves - and they don't care how many people have to suffer and die just so long as they can accumulate more.
Upvoted and following. Thank you for this post.
Thanks @steemtruth.., I appreciate it!
The greed is truly unfathomable.., and void of any humanity, at all.
There is, like you say -- more than enough to go around!
very nice post
Thanks @cryptohazard... Cheers!
100 thousands bitcoins
At least!!!