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> rich enough to never work again Congrats... but be careful. Some young people underestimate the amount of money needed to "never work again". If you're not w

> rich enough to never work again Congrats... but be careful. Some young people underestimate the amount of money needed to "never work again". If you're not working then you don't have group health insurance. You're in the individual market, which often has crappy insurance providers. If you have a serious health issue, and get into a dispute with the insurance provider, your illness can cost millions. If you have > $10 mils you're probably safe though, assuming you invest wisely.

mysecretaccount 5y ago
Even for a serious health issue, millions seems very unlikely. Additionally, while health care in the US is expensive compared to everywhere else, it isn't likely that the premiums for a single 27 y/o would be the deciding figure in "can or can't retire".
- jrumbut 5y ago
  He won't stay 27 forever.
  - mysecretaccount 5y ago
    No, but people tend to spend more earlier in retirement and he can plan for it. Planning for rising premiums as a single person is easy, planning for a family if he ever wants one is more difficult.
- deleted 5y ago
  [deleted]
- petilon 5y ago
  See 60 minutes story on hospital bill for covid. The patient died. Bill from the hospital for about four weeks of his hospital stay came to a little over $4 million. https://www.cbsnews.com/news/covid-19-deaths-families-60-minutes-2021-01-31/ https://www.cbsnews.com/news/covid-19-deaths-families-60-min...
atonse 5y ago
Thank goodness for Obamacare (at least in the mid-Atlantic US). Before Obamacare, individual plans were absolute shit (my individual plan wouldn't have covered my wife's pregnancy with our first kid... her job's insurance did). Thanks to Obamacare, individual plans have the same coverage as employer plans. Without Obamacare I couldn't have started my company which now employs 9 people in well paid tech jobs (without a penny of outside investment). I'd be stuck in an artificial set of handcuffs imposed by a stupid legacy system of tying health insurance to employment.
- splintercell 5y ago
  I’m not sure if I agree with your experience, in New York City Obamacare plans are horrendously bad, The coverage comes nowhere near to the crappiest employer plan. I had to hire a Nigerian kid to just call the doctors listed on Obamacare website which accepted the silver plan, and about only 40% of the doctors really did (this was for a delivery). $1400 per month for a mother and a child. I currently pay $1400 per month for coverage in all the US through open access for a full family of four (because I live in a place where Obamacare isn’t applicable so the prices are relatively dirt cheap and allows special deals with mainland insurers to get that coverage most mainlanders don’t get).
  - cyberlurker 5y ago
    The price is probably similar to what the employer pays. It just gets hidden because everyone only pays attention to what comes out of their paycheck. I know a past employer paid $2000 for me per pay period. Health insurance is bullshit obviously. the costs are hidden and definitely suppress what our wages could be. A government solution would be hard pressed to be worse.
    - splintercell 5y ago
      I don't think anyone really thinks that health insurance plans cost $200 vs individual plans being $1400. Just the implication is ridiculous. Our problem wasn't the price, but the coverage. I know my BIL pays $2200 (total, including what his employer pays) and gets excellent plan for him and his wife, whereas us paying $1400 (and this was the same case with the more expensive plans too, coverage didn't change a bit, any doctor who accepted gold, accepted silver too). My point is, (speaking strictly from a consumer POV) whatever is the reason, the NYC doctors just didn't take Obamacare plans, period.
alfalfasprout 5y ago
That's not really true anymore though. The ACA made it so individual health plans are really similar now to what you will get through an employer. And no denial for pre-existing conditions, etc. Fk you money where you don't ever need to work again and* maintain a big lifestyle is a totally different story though. Doesn't mean OP can't take a break for a year or two though.

mysecretaccount 5y ago

Even for a serious health issue, millions seems very unlikely. Additionally, while health care in the US is expensive compared to everywhere else, it isn't likely that the premiums for a single 27 y/o would be the deciding figure in "can or can't retire".

jrumbut 5y ago
He won't stay 27 forever.
- mysecretaccount 5y ago
  No, but people tend to spend more earlier in retirement and he can plan for it. Planning for rising premiums as a single person is easy, planning for a family if he ever wants one is more difficult.
deleted 5y ago
[deleted]
petilon 5y ago
See 60 minutes story on hospital bill for covid. The patient died. Bill from the hospital for about four weeks of his hospital stay came to a little over $4 million. https://www.cbsnews.com/news/covid-19-deaths-families-60-minutes-2021-01-31/ https://www.cbsnews.com/news/covid-19-deaths-families-60-min...

atonse 5y ago

Thank goodness for Obamacare (at least in the mid-Atlantic US). Before Obamacare, individual plans were absolute shit (my individual plan wouldn't have covered my wife's pregnancy with our first kid... her job's insurance did). Thanks to Obamacare, individual plans have the same coverage as employer plans. Without Obamacare I couldn't have started my company which now employs 9 people in well paid tech jobs (without a penny of outside investment). I'd be stuck in an artificial set of handcuffs imposed by a stupid legacy system of tying health insurance to employment.

splintercell 5y ago
I’m not sure if I agree with your experience, in New York City Obamacare plans are horrendously bad, The coverage comes nowhere near to the crappiest employer plan. I had to hire a Nigerian kid to just call the doctors listed on Obamacare website which accepted the silver plan, and about only 40% of the doctors really did (this was for a delivery). $1400 per month for a mother and a child. I currently pay $1400 per month for coverage in all the US through open access for a full family of four (because I live in a place where Obamacare isn’t applicable so the prices are relatively dirt cheap and allows special deals with mainland insurers to get that coverage most mainlanders don’t get).
- cyberlurker 5y ago
  The price is probably similar to what the employer pays. It just gets hidden because everyone only pays attention to what comes out of their paycheck. I know a past employer paid $2000 for me per pay period. Health insurance is bullshit obviously. the costs are hidden and definitely suppress what our wages could be. A government solution would be hard pressed to be worse.
  - splintercell 5y ago
    I don't think anyone really thinks that health insurance plans cost $200 vs individual plans being $1400. Just the implication is ridiculous. Our problem wasn't the price, but the coverage. I know my BIL pays $2200 (total, including what his employer pays) and gets excellent plan for him and his wife, whereas us paying $1400 (and this was the same case with the more expensive plans too, coverage didn't change a bit, any doctor who accepted gold, accepted silver too). My point is, (speaking strictly from a consumer POV) whatever is the reason, the NYC doctors just didn't take Obamacare plans, period.

alfalfasprout 5y ago

That's not really true anymore though. The ACA made it so individual health plans are really similar now to what you will get through an employer. And no denial for pre-existing conditions, etc. Fk you money where you don't ever need to work again and* maintain a big lifestyle is a totally different story though. Doesn't mean OP can't take a break for a year or two though.