No. of Recommendations: 6
NO! But that isn't the way it was planned. When I was 30 I looked at it as a 3-legged stool. SS and my company pension would let me survive. My personal savings would let me "live". At the time I increased my savings, and did without some things, because I didn't know whether SS would be there for me.

But it wasn't the SS leg of the stool that broke, it was the pension leg. Lost my job after 24 years with the same company. Guess what. Nice defined benefit pension plans are backend loaded. Leaving 9 years early lopped over 40% off my pension. No way to make that up that late in life. Fortunately I did a good job of saving and investing. Not living high on the hog but I'm comfortable. But without my SS I'm in deep manure.

Same with health care. I've bought my own health insurance since 2000. Watched it triple in 10 years even though I more than tripled my out-of-pocket liability trying to hold premiums down. Fortunately my health was good all those years. But I couldn't afford to spend a lot on preventative care so I did without. Without Medicare, which I just got on in August, I would still not be seeing a doctor. Good news is I just completed a full battery of tests and got a clean bill of health. Doc doesn't want to see me for a year.

Take away my SS and Medicare and life gets pretty bleak. I can survive for a while but the .45 caliber solution will be a lot closer than I want to think about.
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