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Your retirement savings have creditor protections - if you have hospital bills you cannot pay, you can go through bankruptcy or another non-payment strategy wit
by ThrustVectoring 9y ago
Your retirement savings have creditor protections - if you have hospital bills you cannot pay, you can go through bankruptcy or another non-payment strategy with your retirement savings largely intact.
It sucks ruining your credit with a bankruptcy event, but it beats out draining your retirement plans.
- runako 9y agoThat's a good point. I could probably quibble with the practical aspects of the approach (e.g. job loss resulting from medical catastrophe), but you're right that you could probably preserve some of your retirement assets. The flip side is this is a contributing factor in everyone's healthcare costs being so high.