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Friday, May 13, 2011

Maybe It’s Time to Start Taking Care of Ourselves

Over the past several years there has been a lot of talk about the dire situation that Medicare and Social Security are in and what the impact will be on those of us in our forties, thirties and twenties. We will be left without a security net, without the protection of government funded health care when we are elderly.  Oh what will we ever do? What will happen to us? How shall we survive?
I guess I have to say that maybe this is a good thing. Maybe it is time to take away the “safety net,” that has become a crutch.
One of the defining principles of Debt Free Living is Planning Ahead, and we are not just talking about the weekend or next month, or even this year’s vacation. Planning means being ready for all future events, be that a lay off or retirement. Being ready for our future means that we do not have to rely on anyone to take care of us, whether that be in our old age or in our times of ill health. True it is nice to know that if I were to become disabled tomorrow I would have something to fall back on for tomorrow, but why not plan ahead for myself.
There are a number of ways to plan ahead for retirement and for health concerns. We can invest in IRAs and 401k accounts as well as HAS and flexible spending accounts. Being ready for tomorrow is a true sign of someone who is Money Conscious.
Medicare, Social Security Will Go Bust Sooner: Report

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