Episode-2402- Expert Council Q&A for 3-15-19 — 1 Comment

  1. How making poverty comfortable increases poverty

    Which is one thing I hate about the subsidized health plans, wanting the old catastrophic health plans and putting money away into an HSA type thing.

    Been listening to a spouse who wants us to not make any more money this year other than a couple thousand a month early retirement because if we do that insurance will cost us very little so that must be the smart plan.

    I am not against him going back to retirement, no debt. Up to him. He has things he wants to visit, do, build while he is able. That is fine.

    We have a place we have been building and a home which we will rent or sell, both are paid for. (living in low cost of housing area, both together are less than many homes elsewhere)

    It is just that his thinking has got tied up into we can’t make more than a certain amount a year or health insurance on me will cost more. (He has VA option)

    He needs knee surgery, he wanted to get that before quitting work, he didn’t realize how long it takes to get MRI, and into a surgeon, etc.  Sat down on his computer last week and declared he should quit work this week, switch to the VA for work on his knee, and neither of us to make any more money this year, or we can’t get the subsidized health plan he wants.  Or that he would have to keep working rest of this year to keep health insurance with his company. He believed those were his only 2 options.

    All his thinking on everything changed. We must sell the house not rent it because that would be income. He can’t start drawing social security as soon as he planned because we would be making too much money. A business is okay but not if it is generating money.  Basically use money saved and make little until I am 65, because health insurance will cost several hundred a month more, etc.  That we won’t have money to do some of the things we like to do, because insurance will cost more if we make more, etc.

    Afraid to make money because something will cost more if you do, disregarding the fact that you would losing even more money because you would be making more than the increased cost of insurance.

    Making financial decisions based of fear of making money is not wise. I have also heard we can’t make so much we fall into a higher tax bracket, that would be dumb.

    So much more to living and enjoying life, doing good things to limit your potential thru various fears. I expect most of us do it to some extent. But when we recognize the things which hold us back from being ourselves (a lifetime journey) and move onwards, we are happier.

    As I assured my husband he can retire again when he is ready, I will not be upset, as long as it is because he wants to retire at that time, not because he feels forced to leave early or stay longer based on numbers. I will figure out insurance.