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URL:  https://boards.fool.com/medicaid-could-cost-you-your-ira-22287460.aspx

Subject:  Medicaid Could Cost You Your IRA Date:  3/30/2005  6:56 PM
Author:  intercst Number:  45352 of 99742

It's either that or divorce....

http://www.cbsnews.com/stories/2005/03/30/eveningnews/main684129.shtml

Colorado is one of 20 states that now claim at least part of the IRAs and other pensions of healthy, retired spouses, like Ken, before giving up any Medicaid dollars. It's a new concern for America's 77 million baby boomers who were told to invest in IRAs and 401Ks that would see them through old age.

Critics say Colorado's law, and others like it, discourage savings and scare people away from retiring and are anti-marriage because only spouses are penalized.

Ken Walker says he even considered getting a divorce, but he couldn't.

"That's for some people but that's not for Ken Walker," he says.

Instead, he had to liquidate his 401K. Colorado left $95,000 in his IRA for him to live on for the rest of his life.

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intercst



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