Does Irvine feel wealthy?

NEW -> Contingent Buyer Assistance Program
Actually AMEX allows you to pay your indymac bank mortgage with your card. This can only be done in conjunction with a newly originated loan with indy.
 
<p>I agree with Irvine Renter here, i'm constantly under attack to buy, buy, buy. When people find out I own apartments and make reasonable money from it, they wonder why i'm not driving a expenisve car, live in a big house, own expensive closthes, jewerly etc. etc. </p>

<p>Well, i'm planning for a future, retiring for 20-30 years is tough, retiring for 40-50 years is a bit more complicated than most think, insurance is a big issue.</p>

<p>Does Irvine feel wealthy? Well some of it does, but then you realize these people are VERY in debt. And instead of paying the piper, they keep dancing to the music- more appropriately they are FORCED to dance to the music. Beleive me i'm not happy about driving a focus sometimes, but what makes me happy is the $150 car payment at 0%. Anyways goodluck</p>

<p>-bix</p>
 
<p><em>Well, i'm planning for a future, retiring for 20-30 years is tough, retiring for 40-50 years is a bit more complicated than most think, insurance is a big issue.</em></p>

<p>It shouldn't be. You own apartments. Incorporate with one other person on the payroll, wife, parent, sibling, whatever, and you qualify for group rates. You then can fund the insurance payments as a benefit through the LLC or Corp writing it off as an expense before taxes. You cna then run the property management yourself through the corp, or subcontract out.</p>

<p> </p>

<p> </p>
 
<p>Acutally, I think it'd be funny if there was You Tube of one of those commercials where they spoofed a trip to the mall credit card ad</p>

<p>ex.</p>

<p>Latte $5</p>

<p>The perfect sandals $45</p>

<p>Shopping with girlfriends at the mall - priceless</p>

<p>For everything else there's ... declined?! what do you mean I've been declined! You can't decline me?! How am I going to pay for $100 gas to get back home?!!!!</p>
 
<p><em>When people find out I own apartments and make reasonable money from it, they wonder why i'm not driving a expenisve car, live in a big house, own expensive closthes, jewerly etc. etc. </em></p>

<p>Those consumption habits are best described as "lighting capital on fire". It's part of the local cultural pathology. </p>
 
<p>NRS, </p>

<p> Yes and no, getting insurance is not so much an issue as getting GOOD insurance. My wife has a health issues (ex-epiletic and all the issues associated with "curing" it...). I am incorporated, but again, you need more than a few dollars a month to fund a retirement. maybe after I sell the apts i'll have a little more play money. Still working is a whole lot easier to do once you realize you really don't NEED the money.</p>

<p> </p>

<p>-bix</p>
 
<p>Let's say a person is employed with a large company with great health insurance and is in a position to say goodbye to the rat race, because he can live off interest from investments for the rest of his life. BUT if that person leaves the big company, does his family's health insurance situation become very costly and very iffy, meaning the insurer can cancel it once he has health problems? How do people get good health insurance once they're on their own?</p>
 
<p>Fumbling, </p>

<p> It depends. But mainly yes. There are several ways to get good insurance, one is to be poor and get govt. insurance. But most places won't take it. the second is to buy it, and it will be VERY expensive. Companies have been known to cancel it on trumped up changes and that's where you see all the news articles where workers are FORCED to drop people because their monthly/quarterly numbers are too high.... </p>

<p>Otherwise getting your own insurance isn't that hard, there are many places that do it, its just going to cost you. Doing it for a few years is ok, doing if ro 30-40-50 years can be quite something to think about.</p>

<p>good luck</p>

<p>-bix</p>
 
If you pay $100/mo. for health insurance thru an employer. For a self employed person, to purchase the same coverage, it would cost him/her around $550/mo.
 
<p>Aside from the increased costs, the bigger problem seems to be that the self employed/drop out of the rat race person is at the mercy of the insurance company, who can drop the medical coverage at whim it seems, from the newspaper articles I've read. </p>
 
fumbling,



And every 3 - 4 months, the insurer would increase the monthly payments. The sad part about this is: the insured individual(s) is in good health and hardly uses the insurance.
 
If you're retiring early, consider living overseas for a while, where local health insurance is much more affordable (and regulated by government). If you can establish residency in certain countries, you can even qualify for their government health care program.





For example, you could retire to Malaysia under the MM2H program:


http://www.mm2h.gov.my/





And purchase local health insurance coverage from companies such as ING. Over there private health insurance coverage extends to age 70, and is cheaper than the US. Most people in Malaysia & Singapore speaks English with varied degree of fluency.





You can move back to the US when you're 65 or older, and covered by Medicare. I think ING offers a supplemental health insurance to Medicare here in the US too.





If you're self employed, I've heard good things about Kaiser, but have no experience with them. They just built a brand new hospital in Irvine by Alton and Sand Canyon. You might want to look into it.





I had HMO from work for years, and the best thing I did was to ditch them in favor of (more expensive) PPO insurance.
 
I am self employed. For the first five years my wife was a full time student, I spent $12K/yr (myself and my wife) a year for a 'stripper' insurance policy with deductable so high I never used it. Not once. For the past three years my wife works and my contribution for insurance on her company policy is $55. A year. Not a typo.



The coverage is pretty good too.
 
Self Employed. Every year it goes up 15%. Blue Cross. About $ 500.00 a month for me at 50. Its criminal how our health insurance system works. I pay the entire cost for my other 3 employees. It is almost as much as the lease on my building.

At least we are using it for presciptions and getting something back.
 
Yes, something is reallly scewy. Shouldn't the insurer discount the monthly payments instead of raising them? Especially, when the insured haven't even use his/her insurance in the last 2 - 3 yrs.
 
<p>Those costs look similar to the total compensation reports I've been seeing from Employers for the last few years. </p>

<p>As for costs, yes $500 seems expensive, but I also wonder how much people think it should cost? How much of your monthly premium is immediately absorbed by prescription costs? Would it be cheaper to do a catastrophic plan with a super high deductible and just pick up your scripts at Costco or Walmart?</p>
 
Thats what the other owner of my business did when he turned 60. Catastrophic Plan. He just paid for his Colon Exam out of pocket. Ouch. On our Blue Cross him and the wife got up to $ 2000.00 per month. She smokes. I think if I do that as well I can get it down about 40%. So much for the $ 10.00 Dr. Visit and the $ 20.00 Meds. It just seems like it should be less to insure my 21 year old son than his car payment. $ 235.00 Mo.
 
<p>You some of you can understand why retirement to me means quite a lot.... I think I may just keep my business of 1-2 people around just so I can have decent insurance without paying out the nose. Oh well..</p>

<p>-bix</p>
 
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