<story><title>Rich Retirees Are Hoarding Cash Out of Fear</title><url>https://www.bloomberg.com/news/articles/2017-05-16/rich-retirees-are-hoarding-cash-out-of-fear?cmpid=BBD051617_BIZ&amp;utm_medium=email&amp;utm_source=newsletter&amp;utm_term=170516&amp;utm_campaign=bloombergdaily</url></story><parent_chain><item><author>ransom1538</author><text>Whatever you save with your blood, sweat and tears (if you are lucky) will be blown on medical expenses.  The trick is to convert to cash (literal), then give it to your wife, convert medical expenses to debt and die.</text></item><item><author>dsmithatx</author><text>My grandfather worked at Exxon Mobile for 60 years and retired around 1988 with a few million dollars in stock.  I remember my dad saying he had about 3 Million in stock he purchased as his retirement plan.&lt;p&gt;He built a house and bought a couple of nice cars living on about 100,000 a year.  About 12 years ago he had a heart attack and stroke and was bed ridden.  12 years of doctor bills and hospice ate through almost every dollar he saved.&lt;p&gt;My grandmother sold the house and now lives on her social security.  Maybe people 60 should not be so fast to go spend their cash.  He was 72 when he got sick and 84 this year when he finally passed away.  If something happens to our grandmother there wont be a nice $3 million to cover 12 years of hospitalizations and surgeries.</text></item></parent_chain><comment><author>reustle</author><text>The trick is to move to a country with proper healthcare</text></comment>
<story><title>Rich Retirees Are Hoarding Cash Out of Fear</title><url>https://www.bloomberg.com/news/articles/2017-05-16/rich-retirees-are-hoarding-cash-out-of-fear?cmpid=BBD051617_BIZ&amp;utm_medium=email&amp;utm_source=newsletter&amp;utm_term=170516&amp;utm_campaign=bloombergdaily</url></story><parent_chain><item><author>ransom1538</author><text>Whatever you save with your blood, sweat and tears (if you are lucky) will be blown on medical expenses.  The trick is to convert to cash (literal), then give it to your wife, convert medical expenses to debt and die.</text></item><item><author>dsmithatx</author><text>My grandfather worked at Exxon Mobile for 60 years and retired around 1988 with a few million dollars in stock.  I remember my dad saying he had about 3 Million in stock he purchased as his retirement plan.&lt;p&gt;He built a house and bought a couple of nice cars living on about 100,000 a year.  About 12 years ago he had a heart attack and stroke and was bed ridden.  12 years of doctor bills and hospice ate through almost every dollar he saved.&lt;p&gt;My grandmother sold the house and now lives on her social security.  Maybe people 60 should not be so fast to go spend their cash.  He was 72 when he got sick and 84 this year when he finally passed away.  If something happens to our grandmother there wont be a nice $3 million to cover 12 years of hospitalizations and surgeries.</text></item></parent_chain><comment><author>FabHK</author><text>Note that what you say applies mostly in developing countries and maybe the USA, not in other developed countries, as far as I can tell.</text></comment>