Bogleheads.org

Believe me, I think about the taxes and California supposedly has very high ones. However, each of the states will get you one way or another. I looked at houses in Texas. I have got to say that I was shocked at 3.09% property taxes. In California, I pay only 1%. Well, if a similar house costs 3 ti...

I must tell you that I found my retirement state back when I was 24 years old and I moved from New York City to Southern California. I have visited many of the states over the years keeping in mind the possibility of retirement. I must tell you that I keep coming back to my home in the "Califor...

I would avoid these policies altogether. After the 85% increase you will see a 100% increase as these policies are losers for the underwriters. It is for folks like you, that I wished could read the comments of Mr. Olsen after the article. LTC is a need that SOME can benefit from. I know that my da...

http://www.forbes.com/sites/baldwin/2013/03/29/dodge-the-long-term-care-insurance-mess/ Read this article from Forbes. It's very negative about LTC. Then read the comments particularly of a Scott Olson. He has two comments that really discusses where LTC is at and he even addresses CALPERS. I posted...

I would never buy one of these. Regardless whether you get in before or after the increases next month, there will be large annual increases as the policies are barely making it for the insurers. The fact that several large insurers are dropping out of the market is a tipoff. Save whatever you woul...

I posted a similar thread on this last year. I have about 7 years to retirement, but was looking to see if there was something I could do now to prepare for my retirement. My wife is also younger at 14 years. The difference between me taking the single annuity from my pension and the 100% survivor o...

When you are purchasing LTC you need to be aware of a few key items that affect your premium. It can be confusing but you will have to give these items consideration. 1. How much coverage do you want to have per day or per month. Some LTC companies like Genworth reimburse for expenses per day. You s...

I gave an example in an earlier post of the benefit to buying a ltci policy sooner than later. However, I think that it if your finances are not in order then you should not be considering ltci. I'm in my early 50's and my wife in her late 30's. Our policies only have a $30 per month difference. Wit...

What you folks seem to be missing that is really important when buying a policy of compounded interest, which everyone should buy if they are considering a ltci policy. If you buy a policy at age 35 with $200/day benefits with 5% cpi then in 5 years at age 40 the benefits would be increased to $255/...

those who bought their policies a while back even with the increases are paying substantially more than those who more recently bought their policies. Where did you obtain this information? Most policies bought years ago have inflation riders and when you compare the current cost of new policies wi...

The name of the Asset Care policy I mentioned in the earlier post is from State Life and it's called Cared Solutions. If you should consider individual longterm care policies, I believe one of the advantages you would have is that being younger you would have the benefit of the compounding interest ...

I do not think that you are too young to buy long term care, especially considering the family history. It is true that your ages are younger than most who buy it, but the prices for it have increased over the years and with less benefits. I would make sure you look find an INDEPENDENT BROKER in you...

I spent nearly two months in Japan. I had a great time there traveling the country. It will be difficult for you to see too much if you are only going to be there for a week. However a week in Tokyo alone and you can see it well. I stayed in the Ginza area. It was fine with lots of stores and restau...

Northwestern Mutual 5 years and no increase Not only is Northwestern Mutual is expensive, they are WAY more expensive. Your premium can be double or more for the same benefits. Why would I pay that much more in the beginning so they can say that they have never raised their rates. That's ridiculous...

I want to also say that I will make this a priority to pay. I have assets that I would like to protect and thus, it is worth it to me. If I should get ill, I would not want to burden my wife and kids to take care of me. I consistently hear of people who need it and don't have it. It's no different t...

I bought a 10 pay plan because I had read about the prices going up. However, I must tell you that as I looked at the CA state insurance's control on raising LTCi rates, I feel very fortunate because CA seems to be a lot tougher on insurance companies trying to raise rates than a lot of the others. ...

I bought a LTC policy two years ago for me and my wife. I don't regret it because I have seen the impact on my own family when my dad was suffering from cancer and needed long term care that he did not have. He was not eligible for medicaid and had a modest pension and social security. I had to worr...

This is very interesting because it helps me realize how everyone has a different situation. There are no hard and set rules. It also lets me know that life during retirement can still be very expensive. I receive a variety of discounts on all of the insurance I can get. I have higher deductibles. I...

I have LTCI with Genworth through my former employer and have the rate increased every 3 years to cover inflation, as planned, so I am feeling nothing bad yet. People who have self insured are paying for long term care of other people anyway via taxes which then cover the Medicaid expenses of long ...

As you get older, and your assets increase, your need for insurance may disappear, depending on your personal circumstances. If you do not have a special needs child, or inheritance tax problems, you may not need life insurance at all as you approach retirement. For me, once my children were educat...

I started looking at my expenses as I am looking at life insurance. As I looked at my annual expenses for insurance, it ocurred to me that I pay for a lot of insurance. Home insurance, life insurance, car insurance, health insurance, long term care insurance. That's a total of over $1,000 month. The...

The advantage of 403(b) plans is that we can put aside as much as $49 or $50K per year if the employer sets it up right. 401(k) plans don't allow that much... This is not correct. 403B's have the same income limitations as 401k"s. You may be thinking of the combination of a 403B with a 457. Yu...

Being a state employee and knowing that when I retire, I will receive over 90% of my income upon retirement I would say to go with the defined benefit. I pay 8% from my paycheck into my retirement, but will receive far more benefit than I put into it. In addition, my wife will receive 50%-100% of my...

> The new quote for me is $3,603 365 day elimination period. Includes 100% home care, but only after the 365 day elimination period. Note: If I eliminate the 365day elimination period for home care only, the quote goes up to $4,413. > Realistically, I think that you will desire "partial" ...

Whether a whole-life policy protects your inheritance depends on the legal situation, and I don't know what the laws are or how they vary by state. If you die while on Medicaid, the state has the first claim on your estate for the amount it spent on your care. I don't know whether putting the polic...

I live in South Orange County, California. I may be stupid, but I rented my solar energy system. I know many of you have frowned on it, but I have had if for a year and so far so good. My electric bill would run three, four, or five hundred dollars on some months because my wife likes likes the AC o...

I posted on another long term care thread that has been active over the weekend. What I notice is that what's important is that you have some kind of viable plan in case you need long term care. I don't think it's important how you pay for it. Everyone will have their own method of paying. That's fi...

If you just look at LTC as just insurance and what insurance does which is to cover the risk of something and in this case need for long term care that is very expensive and is not covered by regular health care insurance, then if it is not a financial burden, you would purchase it. I bought a polic...

Although it's not a scam, it's not as good as it seems. i did quite a bit of reading on this. You will still have to pay the loans back and sometimes there are loans that you can get cheaper to do the same thing the infinite banking is trying to achieve. The fees for the policies are quite expensive...

I believe that you really need to determine what your goals are and then prioritize them. Once you do that, then everything falls into place. I moved to California. I believed at the time I could get more work in the acting field back then at the tender age of 24. When I left, NYC was quite dangerou...

I have a 28 year old son who works for the federal government. He served in the Air Force for seven years and is currently in the Air Force reserves. He was able to get his job in the federal government, working on a base in California, because of the work he did in the Air Force working with hazard...

There are some advantages in moving to the D.C. area. In the National Capital Region, grade levels are generally higher than elsewhere, and the pay for the same level is higher than in most other places. Due to the concentration of the Executive-Branch Departments and Agencies, it is possible to mo...

I'll trade you your private pension plan, for my almost-bankrupt public employee plan. :D I belong to the largest public employee Pension plan in the nation. CalPERS. Last time I checked, they were something like 58 BILLION in the hole! Same thing with the 2nd largest Pension plan, the California T...

I must say that as a person who found this board looking for some assistance that I am taken aback by the accusations that are hurled around....... I am now sorry that I have sought your assistance. This is the giveaway that you are most likely a minion of the insurance industry. Yes, some posters ...

The purpose of my post was to determine if I should buy a life insurance policy or choose one of my survivorship options. In any case I do need life insurance for now and in the future for my wife. I need it now in case something happens to me before I make my survivorship selection and when I die t...

I thought I had given enough information in my original post so that people would have a clear enough picture. My objective is really to just replace my income for my wife when I die. I was looking to see if I could do if while I was getting the single annuity of my pension. If that could be done r...

The annual premium you pay for a permanent life insurance policy at age 63 will be more than if you bought the same policy today. However, permanent policy premiums are roughly actuaraly equivvalent at all ages. For example, if you buy a permanent policy at age 25, it is expected that you will pay ...

Yes, today's half million is tomorrow's quarter of a million. I thought about taxes increasing, but I did not give as much consideration to inflation because I was thinking it would be tax free. This makes Old Meph argument even stronger about investing the difference. I am now thinking the opportun...

Needtoknow wrote: "I would like to know your thoughts on this. I have been approved for a guaranteed premium no lapse UL policy with AVIVA for about almost $600,000. I need life insurance any way in case something happened to me tomorrow." I recommend that you buy the $600,000, or whateve...

My thoughts were to give her the 50% option supplement it with the insurance and have her save more in her 401K's and IRA's. I'm not implying that I have the expertise to solve your problem, but it does seem to be a quantitative problem. However, you're not telling us the quantities. Until you say ...

I thought I had given enough information in my original post so that people would have a clear enough picture. My objective is really to just replace my income for my wife when I die. I was looking to see if I could do if while I was getting the single annuity of my pension. If that could be done re...

From our forum policies: We expect this forum to be a place where people can feel comfortable asking questions and where debates and discussions are conducted in civil tones. Respect your debating opponents. Debates are about issues, not people. If you disagree with an idea, go ahead and marshal al...

These insurance agents sometimes mask themselves as wealth advisors too. It really throws a person off and some of these schemes seem very logical and they make sense. I went to a free lunch and the topic was about using your equity in your home for insurance. It makes so much sense when they are de...

the OP has moved on to the insurance agent forum you can see that all the agents who have posted so far believe that using insurance typically beats the joint annuity. http://www.insurance-forums.net/forum/retirement-planning-forum/should-i-use-my-pension-buy-insurance-t40316.html dhodson, I am an ...

it means all the agents who have posted on that site...i find your behavior unusual considering the way you delete posts. I deleted my posts on this thread when I became certain I was feeding a troll. All I ask is that when you make critical remarks about insurance agents and the industry in the fu...

the OP has moved on to the insurance agent forum you can see that all the agents who have posted so far believe that using insurance typically beats the joint annuity. http://www.insurance-forums.net/forum/retirement-planning-forum/should-i-use-my-pension-buy-insurance-t40316.html Yes, I have notic...

I must say that as a person who found this board looking for some assistance that I am taken aback by the accusations that are hurled around. The reason that you may see this scenario which happens to be real come up is because there are people in your industry that push this concept. This is a very...

I have checked this every year for the past 15 years. And I have NEVER found the insurance to be better then one of the joint survivor benefit options. 50%, 75% or 100% the insurance option always costs more. Based on your difference in age, go with the 75% option. Save your money from insurance an...

So I am gathering that the term insurance is just to protect my family during the next 10 years. Then just choose one of the three options. There will be no need for permanent insurance because I will have that through my pension selection. I am getting the picture that no insurance policy will be a...

One question I would like to ask the OP: Does your retirement benefits include medical insurance for your spouse? DH will be putting in his papers this year and we looked into forgoing the survivor pension benefit for a life only pension + life insurance UNTIL we realized that unless I have a survi...