For the poor (but start early!): Long-term care insurance is a type of insurance developed specifically to cover the costs of long-term care services, most of which are not covered by traditional health insurance or Medicare. These include services in your home such as assistance with Activities of Daily Living as well as care in a variety of facility and community settings. There is a great deal of choice and flexibility in long-term care insurance policies. You can select a range of care options and benefits that allow you to get the services you need in the settings that suit you best. The cost of your long-term care insurance policy is based on the type and amount of services you choose to have covered, how old you are when you buy the policy, and any optional benefits you choose, such as Inflation Protection. If you are in poor health or already receiving long-term care services, you may not qualify for long-term care insurance, or you may only be able to buy a more limited amount of coverage, or buy coverage at a higher ânon-standardâ rate. Long-term care insurance policies have a benefit period or lifetime benefit maximum, which is the total amount of time or total amount of dollars up to which benefits will be paid. Common benefit periods for long-term care policies are two, three, four, and five years, and lifetime or unlimited coverage. Other options between five years and lifetime/unlimited coverage are also available from many companies. Most policies translate these time periods into dollar amounts and do not actually limit the number of days for which they will pay for care â just the overall dollar amount that the policy will pay. There are fewer companies today willing to offer an unlimited/lifetime policy, although some have a âhigh coverage optionâ like a $1 million lifetime limit. With long-term care insurance, you pay premiums in amounts you know in advance and can budget for, and the policy pays â up to its coverage limits â for the long-term care you need when you need it. Typically, premiums are waived during the time you are receiving benefits.
Thats right Clubber Lang! You have old age to look forward to that brings you such things as stroke, heart attack, diabetes, hair loss and maybe even death. Find 10 70 year olds on the street. Ask them what their lifestyle is. They are just doing whatever they can to preserve and lengthen whatever life they have left. They dont care about driving in a BMW because that time for them has past. They will just be happy to be alive. Unfortunately, all that food and liquor wont make them live longer.
Maybe even death?? I'm pretty sure that every old person eventually dies...there's no maybe about it!
A genetically engineered organism that lives 10 times longer than normal has been created by scientists in California. It is the greatest extension of longevity yet achieved by researchers investigating the scientific nature of ageing. If this work could ever be translated into humans, it would mean that we might one day see people living for 800 years. But is this ever going to be a realistic possibility? Valter Longo is one of the small but influential group of specialists in this area who believes that an 800-year life isn't just possible, it is inevitable. It was his work at the University of Southern California that led to the creation of a strain of yeast fungus that can live for 10 weeks or more, instead of dying at its usual maximum age of just one week. But Longo is convinced that his experiments on manipulating the genes of yeast show that ageing is not a mere side-effect of life, but a deliberate, genetically programmed process honed by natural selection. "Basically, it is the first demonstration, to our knowledge, that ageing is programmed and altruistic," Longo says. "The organisms we have studied die long before they have to in order to provide nutrients for 'mutants' generated within their own population. Thus, billions of organisms die early so that a few better-adapted individuals can grow." This raises the possibility that the same process happens in humans, and that, as a result, many people are dying earlier than they need to. "Programmed human ageing is just a possibility. We don't know whether it's true yet or not. But if ageing is programmed in yeast, and the [metabolic] pathway is very similar, then isn't it possible that humans also die earlier than they have to?" Valter Longo says that no one has so far proved him to be wrong on his programmed-death idea. But this may be one heresy too far for the rest of science. ---------------- I am no fungus but how much do I need for 800 years?
He has everything, in the end all he needs is his thermos ... and this remote.. and the tv guide....and this chair... <object width="480" height="385"><param name="movie" value="http://www.youtube.com/v/1el59ig9AK8?fs=1&hl=en_US"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/1el59ig9AK8?fs=1&hl=en_US" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="480" height="385"></embed></object>
$700 for house, including property taxes, insurance and repairs $600 for utilities and cable $200 for gardener $600 for clothing, shoes, etc. $1700 for household goods and food, including eating out $600 for gas and auto expenses $900 for medical insurance and expenses $1800 for fun: books, gifts, entertainment, travel, symphony tickets, etc. So then the amount needed depends on rate of return, income taxes and inflation. I figure 15-20% return, marginal rate 40-50%, and 6-10% inflation as lifetime averages. So with a lot of volatility and a couple of shitty return years at the beginning of retirement, I guess I need about 800-900K in liquid assets. But there is this security blanket thing about working that I cannot seem to kick: I'm afraid to quit even though I can. Guess I should add on a few hundred for therapy
too sedative lifestyle. you have lots more time and if you healthy you want to keep that way by going out and doing things and have fun. Cant see why age 70 by itself should stop that. Of course, if reasonable health still there. Different story i guess if you do 12-16 hour trading session daily which is really heavy full time work, not kind to your body.