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Having spent a week with my parents, and now spending a week with Rob's parents, I am reminded of the need for long-range financial planning. My parents don't have a solid plan for retirement; my mom lives in fear. Rob's folks and most of the people they discuss are also elderly. I don't know who "Bill" is, but this week I learned that his assisted living facility costs thousands of dollars a month. "Catherine" is in a nursing home costing even more. Rob's aunt is very fortunate that she sold the family farm and moved in with her daughter a year or so before she had her stroke. Heck, if anything happens to Rob's mom, Rob's dad will need to hire a full-time bodyservant.
All of this sure makes me think twice about this whole veterinarian thing. Not that I had a good path to a secure old age as it was; don't get me wrong. But this is the single most financially devastating thing I've ever done in my life. It surpasses even holding on to BRCM stock during 2001.
People say having children doesn't necessarily guarantee good elder care. They're right, of course. But NOT having children is definitely a LESS reassuring situation. Basically, unless you have a few people who are younger and healthier than you are and who are also massively indebted to you, you'd best have a truckload of money. And I don't.
All of this sure makes me think twice about this whole veterinarian thing. Not that I had a good path to a secure old age as it was; don't get me wrong. But this is the single most financially devastating thing I've ever done in my life. It surpasses even holding on to BRCM stock during 2001.
People say having children doesn't necessarily guarantee good elder care. They're right, of course. But NOT having children is definitely a LESS reassuring situation. Basically, unless you have a few people who are younger and healthier than you are and who are also massively indebted to you, you'd best have a truckload of money. And I don't.
same boat
Also on the good side: I hope that our country will start to act a bit more rationally in our self-interest and start to recover a bit and maybe eventually have more resources for all of our old ages.
Not having kids is probably a plus, overall, in terms of money -- but certainly not in terms of (potential) personal care. The other option really is to have many caring friends (which you seem to have, CJ).
Regarding cats: I recently sent for a copy of the PETA guide to planning for companion animals. It's something I know I've seriously neglected. While I won't say the topic is simple or easy, I think their planning guide is very good and makes it all seem at least a BIT more doable. (like, um, instead of totally overwhelming, it has moved to "somewhat overwhelming".) (I'm a member of PETA, but would guess that the guide is likely available free to anyone.)
http://www.peta.org/jnew/planca.asp
Regarding walking off of cliffs: www.compassionandchoices.org "Oldest and largest right-to-die organization in the US..... Formerly the Hemlock Society".
I always find it SO SAD when there are news stories of increasing suicide in places where money is unobtainable.....
Re: same boat
Yes indeed. Money may not buy happiness, but it sure can solve a lot of various unhappinesses. I know I'd be a fool not to at least consider what this is going to do to my future. :-(
I come from long-lived stock, and when I was younger, I naively presumed that I'd always be healthy. I exercised, and to some extent I was willing to eat healthfully, so why shouldn't I be fine? Ha! Now that I know better, I need to think about the time when I'll be unable to take care of myself.