My husband just retired. I’m scared to death of running out of money | Hacker News Reader

My husband just retired. I’m scared to death of running out of money

washingtonpost.com

16 pointswallflower12 comments

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I get captchas in a loop from archive.ph, what’s the deal?

Cloud flare dns maybe.

Yes, I had the same problem and it cloudflare DNS 1.1.1.1 unfortunately. Google's public DNS ranks higher than Comcast for me, but I'm sure there's others.

That’s the one. I forgot I had 1.1.1.1 set (and 8.8.8.8 as a fallback).

Are you connecting over a VPN of some kind? Are you running some kind of anti-tracking fingerprint-resistant browser?

Webview and Chrome on Safari over Comcast.

I don't know. Sorry. No captcha here.

It’s a silly thing to worry about if you aren’t rich. Especially the scenario in the article as the federal retiree has access to great, cheap healthcare.

At the end of the day, you’re going to die if you’re lucky. More likely, one of both partners will have a debilitating medical event that will drain their savings on mediocre medical services or theft/waste by caregivers.

Spend the money responsibly but don’t fret. If you want to give your kids money, just give them money.

My situation is simple. I have one spouse and one kid. I’ll have the equivalent of few million bucks between annuities and savings at 55-56 and will retire, with an income allocated to spend about 60% of the total by 70. If I make past there, I’ll have beat all of my male ancestors and will still have plenty of pension, social security and investment income to live my best old man life.

> If you want to give your kids money, just give them money.

Thanks to Medicaid clawback - I mean Look-Back - rules if you die too soon after giving your kids money, Medicaid will take it from them.

They can't actually recover the money from the kids. What they can do is declare you, personally, ineligible for Medicaid for a period of time based on the value of assets (not just cash) that you've given away. It's a little complicated. This appears to be a decent overview:

https://finance.yahoo.com/news/avoid-medicaid-5-lookback-pen...

Addendum: they can also recover from your estate, up to the full amount that Medicaid has spent for your long-term care, and that's not time-limited.

Disclaimer: if you're in this situation, it is strongly recommended that you talk with a reputable attorney specializing in elder law before doing anything.

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