Good intentions that “powers that be” devise to “help protect” the public almost always end up having the opposite effect in the long run – and sometimes with disastrous consequences for most of us. We already know what is happening to pension, Social Security, and Medicare funds.
Here is yet another example of good intention gone bad; namely, long-term-care insurance. Much like the 401(k) programs, most, if not all, of corporate America promoted long-term-care insurance programs as a no-brainer for employees to sign up. So, I did – on both accounts.
Due to cost-cutting measures, I no longer subscribe to the Wall Street Journal. So I do not get the full story but, hopefully, you can still see the full video. This was published on January 17, 2018.
In response to the WSJ article, Forbes published its own article on January 22, 2018. This may help you decide what to do next.
Regardless, if I knew then what I know now, I would have focused my time and energy – NOT on working for someone else but – on establishing investments that help secure monthly cash flow for myself WITHOUT having to rely on programs that were devised by others. After all, who needs insurance if our needs are to be met with positive monthly cash flow of our own device for the rest of our lives?
Happy investing!
