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Rich Retirees Are Hoarding Cash Out of Fear

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Re: Rich Retirees Are Hoarding Cash Out of Fear

#261

Post by [deleted] »

bmelton wrote: post #172
neves wrote: post #163

Earlier quoted context omitted.

Not true. Retirees with generous pensions are a great opportunity for any country. They will bring money to your country without the need to produce anything. They won't consume a lot of public resources (no need of school or of police repression). They will reform a house, eat in your good restaurants, and enjoy all the services you can offer. A lot of countries hunt for wealthy retirees, like Portugal and Australia…

Sure, they'll consume all the services you offer, and especially health care, as the parent suggests. But, yes, you need to have a generous pension, as well as meet another number of requirements that vary from place to place. In order to emigrate and retire in New Zealand[1], for example, you need to a) be healthy b) bring your own insurance c) bring ~$350k in savings and $40k annual income with you The UK imposes a…

[deleted]

Re: Rich Retirees Are Hoarding Cash Out of Fear

#263

Post by imgabe »

astrodust wrote: post #189
imgabe wrote: post #168

Earlier quoted context omitted.

Or just die when you're old? Maybe that sounds harsh, but being bedridden for 12 years doesn't sound like any idea of a good life to me. The old die to make way and free up resources for the young. That's the way it's supposed to work.

Someone's a fan of Logan's Run . Enjoy your manadatory execution when you're forty you old bastard.

False dichotomy. There's a pretty big difference between dying after having a stroke that leaves you permanently disabled in your 70s vs. mandatory execution of healthy 40-year-olds.

Re: Rich Retirees Are Hoarding Cash Out of Fear

#264

Post by pvaldes »

reustle wrote: post #101
ransom1538 wrote: post #81

Earlier quoted context omitted.

Whatever you save with your blood, sweat and tears (if you are lucky) will be blown on medical expenses. The trick is to convert to cash (literal), then give it to your wife, convert medical expenses to debt and die.

The trick is to move to a country with proper healthcare

Or press to build a proper healthcare in your country

Re: Rich Retirees Are Hoarding Cash Out of Fear

#265

Post by sliken »

incompatible wrote: post #220
Consultant32452 wrote: post #200

Earlier quoted context omitted.

This is the result of central planning on the part of government. It allowed the AMA to do insane things like stopping new medical schools from opening for DECADES. It allows the AMA to continue to artificially limit the practitioners in all medical professions to keep wages high. As a specific anecdote of the problem of government in healthcare: in my city a new children's hospital opened up a few years ago. The oth…

Why does the government care what the other hospitals think? Would they stop a new burger bar opening too close to a McDonalds, if McDonalds petitioned them for long enough?

Yes, it's the way the world works. Homeowners vote against new developments (which decreases the cost of their homes). Everyone with a liquor license lobbies against more liquor licenses. Every grocery store lobbies against more grocery stores. Amusingly this causes big issues between state governments (who wants growth) and cities where most voters/business owners want to limit growth to protect themselves.

Re: Rich Retirees Are Hoarding Cash Out of Fear

#266

Post by navbaker »

martin1975 wrote: post #153
was_boring wrote: post #150

Earlier quoted context omitted.

I'm currently in a similar situation about what to do with an elderly relative with dementia who is currently in limbo after the last relative taking care of him died. The best moral option is to take guardianship and look after him. The best financial decision is to "divorce" from the situation and let the state take care of him so I have a chance of my wife and I being able to retire and saving for the kid's educat…

You know the Golden rule, no? It's as true as 2+2=4.

Are you leaving the proof to the reader as an exercise?

Re: Rich Retirees Are Hoarding Cash Out of Fear

#267

Post by benjiwengy »

eveningcoffee wrote: post #118
beambot wrote: post #20

Earlier quoted context omitted.

What about peace of mind & financial stability? Those don't decline over time... (Also: Estate tax as a way to fund basic income?)

Taxing property means that owner must have cash to pay for it or is forced to sell it (with all the consequences of forced selling probably). It may sound interesting and promising but is most likely the most unjust way of taxing as it will force people are retired or about to retire out of their homes (that they are not paid for using funds from the basic income).

We have to have the cash when we pay selling prices, mortgage interest and rents. The LVT and these are economically one and the same thing, thus merely a substitution.

Not for existing homeowners admittedly, but certainly for those in the future.

Re: Rich Retirees Are Hoarding Cash Out of Fear

#268

Post by Spooky23 »

Consultant32452 wrote: post #254
Spooky23 wrote: post #221

Earlier quoted context omitted.

There's more to that story. Typically the problem is that there are too many hospital beds, not too few. Outpatient treatment is increasingly more popular and more cost effective. Hospitals often raise costs by introducing massive capital costs that need to be amortized as well as other overheads. With the exception of lower-cost, higher value primary care, there are rarely any meaningful access issues to doctors in…

>Typically the problem is that there are too many hospital beds, not too few. I'd be interested in a citation for this because it's counter to basic economic theory of supply and demand. If the supply outpaces demand, then the price should be going down, not up.

ECO 101 fails all over the place.

Here's an example. A quick good will find you many more. http://www.modernhealthcare.com/article/20150221/magazine/30...

Medical services are a complex market. It's nonsensical to randomly apply basic economic principles without knowing what you are doing. (Good luck telling congress that) The smart thing to do is to make primary care more accessible -- you'd be able to close many hospitals and improve outcomes.

Re: Rich Retirees Are Hoarding Cash Out of Fear

#269

Post by joyofdata »

dsmithatx wrote: post #61

My grandfather worked at Exxon Mobile for 60 years and retired around 1988 with a few million dollars in stock. I remember my dad saying he had about 3 Million in stock he purchased as his retirement plan. He built a house and bought a couple of nice cars living on about 100,000 a year. About 12 years ago he had a heart attack and stroke and was bed ridden. 12 years of doctor bills and hospice ate through almost ever…

I'm getting more and more convinced that one of the most important goals in live should be to mature to a level where you are simply comfortable with dying. Being able to simply conclude at one point in life that it's enough and either submit to fate or commit suicide.

Re: Rich Retirees Are Hoarding Cash Out of Fear

#270

Post by intended »

joyofdata wrote: post #269
dsmithatx wrote: post #61

My grandfather worked at Exxon Mobile for 60 years and retired around 1988 with a few million dollars in stock. I remember my dad saying he had about 3 Million in stock he purchased as his retirement plan. He built a house and bought a couple of nice cars living on about 100,000 a year. About 12 years ago he had a heart attack and stroke and was bed ridden. 12 years of doctor bills and hospice ate through almost ever…

I'm getting more and more convinced that one of the most important goals in live should be to mature to a level where you are simply comfortable with dying. Being able to simply conclude at one point in life that it's enough and either submit to fate or commit suicide.

And you will also realize that this is an unachievable goal. The kind of existence you require to attain that type of ease and thinking will alienate you from the vast majority of human behavior and thought.
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