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Bankruptcy Filings Surge Among Older Americans

wsj.com

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Re: Bankruptcy Filings Surge Among Older Americans

#31

Post by oreo82 »

gt_ wrote: post #18
shakestheclown wrote: post #11

Earlier quoted context omitted.

Or work on having the means to move to a country with a more sensible health care system before you reach that point.

At 34 now, I hope to. Can anyone recommend countries that are easy to move to? With urban environments and culture, without being too expensive for cost of living? I have tech skills but am not one of the trendy rich engineers. I commit my free time to art, as it brings me life. Unfortunately, it is increasingly unable to bring me survival.

>Unfortunately, it is increasingly unable to bring me survival

It's only gotten easier and will continue to get easier to make a living off of art.

Re: Bankruptcy Filings Surge Among Older Americans

#32

Post by rayiner »

shakestheclown wrote: post #11
sigfubar wrote: post #7

So, old age for me boils down to two options: waste my savings on "medical care" designed to swindle me, or eat my gun. Not a difficult choice at all.

Or work on having the means to move to a country with a more sensible health care system before you reach that point.

None of those countries will have solvent healthcare systems when I'm old, so what's the point? By 2060, Germany's working age population, for example, will be 30% smaller than today. Who is going to bankroll their welfare state?

Re: Bankruptcy Filings Surge Among Older Americans

#33

Post by baybal2 »

gt_ wrote: post #18
shakestheclown wrote: post #11

Earlier quoted context omitted.

Or work on having the means to move to a country with a more sensible health care system before you reach that point.

At 34 now, I hope to. Can anyone recommend countries that are easy to move to? With urban environments and culture, without being too expensive for cost of living? I have tech skills but am not one of the trendy rich engineers. I commit my free time to art, as it brings me life. Unfortunately, it is increasingly unable to bring me survival.

China?

Re: Bankruptcy Filings Surge Among Older Americans

#35

Post by zaarn »

gt_ wrote: post #21
rconti wrote: post #17

Earlier quoted context omitted.

Well, you need the means. Not just the cost of moving; the residency or citizenship.

Isn’t that basically a matter of paying for it in some form?

No, a lot of countries require that you take tests and show that you're looking for a job in that country. Of course it'll also cost money.

For my country the following applies:

* Must have residency permit, permanent or temporary with intent to be permanent

* Must pass residency exam (tests language, law, etc.)

* Must be living in country for 8 years minimum

* Must have independent source of income that isn't social welfare or unemployment benefits

* Sufficient knowledge of local language

* Must not have been convicted of a crime

* Must pledge to the democratic order laid out by the constitution

* Annulling or otherwise revoking your previous citizenship

Re: Bankruptcy Filings Surge Among Older Americans

#36

Post by rbanffy »

rconti wrote: post #17
rbanffy wrote: post #12

Earlier quoted context omitted.

And you can move before reaching that point. It'll be a lot easier.

Well, you need the means. Not just the cost of moving; the residency or citizenship.

That I know of, both Germany and Ireland are very quick to issue work visas if you have a sponsoring company and both Berlin and Dublin have huge tech ecosystems.

Re: Bankruptcy Filings Surge Among Older Americans

#37

Post by rbanffy »

zaarn wrote: post #35
gt_ wrote: post #21

Earlier quoted context omitted.

Isn’t that basically a matter of paying for it in some form?

No, a lot of countries require that you take tests and show that you're looking for a job in that country. Of course it'll also cost money. For my country the following applies: * Must have residency permit, permanent or temporary with intent to be permanent * Must pass residency exam (tests language, law, etc.) * Must be living in country for 8 years minimum * Must have independent source of income that isn't social…

Most people can get away with a work visa. It's usually much simpler.

Re: Bankruptcy Filings Surge Among Older Americans

#38

Post by shakestheclown »

rayiner wrote: post #32
shakestheclown wrote: post #11

Earlier quoted context omitted.

Or work on having the means to move to a country with a more sensible health care system before you reach that point.

None of those countries will have solvent healthcare systems when I'm old, so what's the point? By 2060, Germany's working age population, for example, will be 30% smaller than today. Who is going to bankroll their welfare state?

I don't think it's a foregone conclusion that none of those countries will have solvent healthcare systems. There are steps they can take to improve the currently dire future. And I would imagine that pretty much any projection will show a more favorable situation than the US over the next 30-40 years.

Given the choice between a system that looks unsustainable in the future versus one that is currently unsustainable, I'll bet on the future one.

Re: Bankruptcy Filings Surge Among Older Americans

#39

Post by rbanffy »

rconti wrote: post #17
rbanffy wrote: post #12

Earlier quoted context omitted.

And you can move before reaching that point. It'll be a lot easier.

Well, you need the means. Not just the cost of moving; the residency or citizenship.

I forgot Canada. They have a points system for some professions. They penalize age, so, the sooner you move, the better.

Re: Bankruptcy Filings Surge Among Older Americans

#40

Post by acct1771 »

adreamingsoul wrote: post #13
djrogers wrote: post #4

Really very surprising that such a long piece doens't seem to mention once that the current crop of older Americans are teh first generation to live largely on credit, lived in houses 3x larger than previous generations, purchased 10x more new cars than previous generations, and have spending habits that far outstrip anything their progenitors would ever have considered. Yes, healthcare costs a lot, and social securi…

My parents are giving me a hard time because I won't buy a new car for my spouse. We currently have two cars, one is paid off and is reliable. The other is almost paid off and is also reliable. When I ask why we should buy a new car, I often hear responses like "because I want one", and "because I deserve it". I question our society when given those type of responses.

It's a societal issue, but if your wife is asking those things, it's also now a you issue.
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