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Comment by chooseaname | Hacker News Reader

> Oh come on... why 70%? Presumably retirees don't have childcare costs, can downsize on housing, no more daily commute so savings on transport and lunch costs, ... Also, does "private savings" account for accumulated housing equity?

I came here to say the same thing; was even typing it up. Then I paused. Healthcare (in the U.S. at least) is going to be at a crisis point in a decade. Prices keep going up and it isn't sustainable. Retirees will spend a large portion of their retirement income on healthcare.

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You've already gotta be pretty damn rich for the most likely outcome, even as a quite comfortably retired person who's careful not to overspend, not to be "hospitals and hospice care take all my money in the last few years, and I die nearly penniless".

We're rapidly approaching a time when leaving inheritance will no longer happen at all for nearly all people who've worked their whole lives (i.e. have never been owners, "capitalists", as their primary source of income). I mean I know there's not much there already, but soon that'll just not be a thing anymore. Healthcare expenses plus the death of pensions are going to cause some serious unrest in the next decade or two, unless we course correct hard and very soon.

I really don't know what to think about healthcare expenses... Like, dying pennyless makes sense! Why wouldn't you spend all your money just to prolong your life a bit longer? Obviously, our (civilization's) resources are limited, and we need to make decisions how to allocate them... EU countries decide by fiat (government says, we'll spend this much taxes on healing kids vs that much on healing old people), whereas US decide by market (rich people, young or old, can spend more on their own health). Personally, as technology improves, I really don't see us spending less on healthcare... after all, it's literally life, the most (individually) valuable thing there is!

> Why wouldn't you spend all your money just to prolong your life a bit longer?

Money doesn't work that way. Fixing the problems that can be fixed usually isn't a crippling amount of money.

And when hospice is expensive, it's not because any notable treatment is happening, it's just to give you a place to live.

I cannot understand why there aren't more retirees moving en-mass to Europe right now for medical care.

I think you are underestimating how difficult it is to get a long-term visa for most European countries. Someone who is not employed or is soon to retire without an extraordinary amount of wealth has virtually no change of gaining entry outside of refugee crises/political persecution or other unusual circumstances.

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