What’s Up Next Podcast: Episode 67
What’s Up Next?
Paul Thompson and I are proud to release episode 67 of The What’s Up Next Podcast. This podcast is an exploration of financial independence and taking the conversation to the next level. The show features panel discussions with top influencers in the financial independence space. Guests weigh in on questions that don’t have clear answers to refine your path to FI.
Episode 67
In this episode we discuss whether healthcare is the great FI killer. Featuring Danielle Roberts, Lynn Frair, Dillon Rhodes, and The Frugal Engineers,
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Thank goodness one person on the panel knew the TRUE cost of universal healthcare and hopefully the others learned and changed their opinions. 60% tax, delayed care for years for basic medical procedures and waiting out in the cold to get care. But like bernie actually said, “bread lines are a good thing” so I guess medical lines are a good thing too.
Great podcast, so much to learn.
I’m glad the issue of catastrophic events was covered. While I agree that maintaining a healthy lifestyle is essential for everyone, not just those pursuing FIRE, it’s not the end all, be all in the world of medicine. Unexpected events occur, and they can be extraordinarily expensive, so not having health insurance can be a great financial risk. A young and healthy family member had an unexpected health scare this past summer. Even though he has great health insurance, it didn’t cover everything and he had some massive bills to cover. That’s one aspect too many people in this community are either overlooking or unaware of.
I have not yet listened but plan to. Even though my wife has retiree health care coverage from her company at age 55, we will budget $25k per year from retirement (between 55 and 60j for health care and dental. For those without retirement coverage, you will need to budget more.
You cannot just extrapolate your costs in your 30’s and 40’s indefinitely into the future. Medical issues crop up over time for most families. Assuming a budget of $40-80k per year that includes health care expenses into the 50’s and 60’s in unrealistic for most.