[TriLUG] OT: PT One tech issue from tonight's debate

Chris Merrill chris at webperformance.com
Fri Oct 19 17:55:24 EDT 2012


On 10/19/2012 5:25 PM, Steve Litt wrote:
>> Those 48.6 million live in a country that will still give them good
>> health care, even if that have no insurance and no money. 
> 
> Yeah, after they've divested themselves of their house, their kids'
> college funds, their retirements, to pay for a couple weeks in the
> hospital.

Ok, I know I said I'd bow out, but this needs to be addressed, for the benefit of those who may not
be aware:

401Ks (up to $1m), 529s (college funds), and a portion of home equity can't be touched by
bankruptcy. So the facilities ARE there to protect yourself. If people choose not to take advantage
of those mechanisms...well...I don't know what to tell them besides "DUH!"

disclaimer: I am not a financial advisor and I did not sleep in a Holiday Inn last night, so take my
advice with a grain of salt. Consult a professional financial advisor!  Or at least read a few books
on the subject.



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