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Whose parents have a guaranteed benefit pension these days? As far as private savings, those disappear almost immediately in the face of a medical disaster. T
by thinkmoore 11y ago
Whose parents have a guaranteed benefit pension these days?
As far as private savings, those disappear almost immediately in the face of a medical disaster.
Things are pretty grim indeed without the government programs (Social Security and Medicare).
- s_q_b 11y agoMy grandfather has two guaranteed benefit pensions: one FBI and one as chief of local police. But you're right, they're vanishingly rare for anyone in the private sector under 80. Bankruptcy by medical disaster should be averted by Medicare and a supplementary plan, assuming it's late enough in life. Slightly earlier, and yeah, your savings can vanish.