ObamaCare - Retire Early and Game the System

[maxparrish]

http://www.forbes.com/sites/carolyn...get-cheap-health-insurance-through-obamacare/

Being paid not to work, that rates an entry in the Free Money Man's Handbook:

 

[Loren Pechtel]

http://www.forbes.com/sites/carolyn...get-cheap-health-insurance-through-obamacare/

Being paid not to work, that rates an entry in the Free Money Man's Handbook:

Pretty hard to pull off--having enough money for early retirement while avoiding capital gains isn't going to be easy.

 

[crispy]

Youre right max, its much more sensible to pay for healthcare over taxes to avoid all this shit..

 

[untermensche]

So we now have more people helped by Obamacare.

What a great system!

 

[GenesisNemesis]

Disclaimer: OP has not explained a thing.

 

[ZiprHead]

Disclaimer: OP has not explained a thing.

Actually, I find it quite a refreshing post by Max. He's actually criticizing the well-off instead of the poor for once.

 

[maxparrish]

So we now have more people helped by Obamacare.

What a great system!

"Actually, I find it quite a refreshing post by Max. He's actually criticizing the well-off instead of the poor for once." Ziprhead.

Untermensche defending the gaming of the well off?

 

[ZiprHead]

Actually I've supported raising the SS tax maximum and lowering the SS retirement age for some time. Many more would leave the work force earlier to create jobs for younger workers and stimulate the economy.

 

[laughing dog]

So we now have more people helped by Obamacare.

What a great system!

"Actually, I find it quite a refreshing post by Max. He's actually criticizing the well-off instead of the poor for once." Ziprhead.

Untermensche defending the gaming of the well off?

Your sarcasm meter needs recalibration.

 

[Jayjay]

So let me see if I got this right...

1. Wait until you're 55.
2. Stop working and make sure your income is only around 2.5x poverty level.
3. Get cheap health insurance.
4. Get a debilitating illness.
5. Profit!

Yep, sounds like a great plan.

 

[T.G.G. Moogly]

Actually, max, I'm in that category and I've considered the options outlined in the link. Pretty concise and informative read. Fact is I've been working for 42 years and paying taxes all of those years so why shouldn't I be able to retire? I know lots of people who are my age and have been retired for years. What exactly is your point?

 

[Loren Pechtel]

So let me see if I got this right...

1. Wait until you're 55.
2. Stop working and make sure your income is only around 2.5x poverty level.
3. Get cheap health insurance.
4. Get a debilitating illness.
5. Profit!

Yep, sounds like a great plan.

Spending down savings doesn't count as income but does matter for one's standard of living.

About the only way I see to pull this off would be to have huge amounts on Roth-type retirement accounts.

 

[untermensche]

So we now have more people helped by Obamacare.

What a great system!

"Actually, I find it quite a refreshing post by Max. He's actually criticizing the well-off instead of the poor for once." Ziprhead.

Untermensche defending the gaming of the well off?

The gaming of the system came when the representatives of the rich successfully had the public option removed.

 

[ksen]

itt max is against financial planning . . . and retirement

 

[Jimmy Higgins]

http://www.forbes.com/sites/carolyn...get-cheap-health-insurance-through-obamacare/

Being paid not to work, that rates an entry in the Free Money Man's Handbook:

At what point does it become being paid not to work? All they would be getting is subsidized health care coverage. The remainder of their income would have to come from investments, which they would likely have to have earned in the past.

 

[T.G.G. Moogly]

About the only way I see to pull this off would be to have huge amounts on Roth-type retirement accounts.

That's correct, and is where the majority of my savings resides. If you've put money aside the old fashioned way you're not penalized. The wild card in all this if you're an average person who has just saved money is of course the insanely high cost of health care. That's what will get you. In a way the ACA is very fair on this.

 

[ksen]

How is this different than the "gaming" of CEO pay packages?

Or using inversion to "game" the system?

Or any other of the multitude of methods wealthy people have to "game" the system?

I look forward to reading those threads.

 

[Jimmy Higgins]

How is this different than the "gaming" of CEO pay packages?

Or using inversion to "game" the system?

Or any other of the multitude of methods wealthy people have to "game" the system?

I look forward to reading those threads.

I'm not exactly certain why maxparrish thinks that people in their 50's should have to work to be able to afford health care if they could otherwise retire. They'd have to pay $1,000 a month, per person if they tried to retire early. Even if you have a house paid off, the cost of paying for health care is extraordinary unless subsidized by an employer.

Apparently maxparrish likes the status quo.

 

[T.G.G. Moogly]

So let me see if I got this right...

1. Wait until you're 55.
2. Stop working and make sure your income is only around 2.5x poverty level.
3. Get cheap health insurance.
4. Get a debilitating illness.
5. Profit!

Yep, sounds like a great plan.

If you're relatively healthy it's worth considering. If you've saved, you can have very little income, qualify for a subsidy and retire. The plans are set up so people can make informed choices.

 

[Alcoholic Actuary]

...OR...

Retire at 65 and get healthcare for FREE!!!!

Is there no end to the government schemes?