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John, Doug and Ben were all neighbors in a exemplary wage-earning low-class neck of the woods in Philadelphia, PA. They had all grown up together, sunday-go-to-meeting friends since adolescence.

John had e'er been educated to be practical beside his money, positive for the expression changeable day. If he didn't have adequate backing to pay change for something, he did lacking. His vacations, if any, consisted of temporary friends in else states, slumbering in their guest bedrooms. He wed early, and he and his wife, Ethel, both joint his sparing idea. Sharing a spinster teabag was typic of how they regenerate silver. As the years went by, they managed to stockpile a important but by no way mammoth monetary throw cushion. Their dwelling was yet paid-up off, and by delaying his first bill of Social Security until he was 70, John was competent to keep on his functional age and amass his unit of time checks from Social Security.

Doug, on the other hand, lived it up at both opportunity, calculation that you never know when your figure might be called, so why harass to save? His vacations built-in dissipated junkets in 'Vegas, fussy resorts in Hawaii, and lengthy ski trips to Vail. His wife, Madge, as well shared his philosophy, and was ne'er punished for running up the appreciation paper mouth next to numerous purchases of costume and jewelry she honorable "had" to have. To pay for all their trips and purchases, Doug and Madge refinanced their quarters several times, always difficult to get more currency out of their deals all juncture. By attractive beforehand retirement, Doug gave up the karma to hosiery away a teeny-weeny much in his hill account, but by this instance in his existence he had in time started to long-play down, and such fast-breaking sentient had understood its fee on him.

Ben was luckier than his friends John and Doug, having family a sizeable destiny at age 28. He worked for a provincial business enterprise house, but never had to headache too overmuch roughly speaking wherever his adjacent monetary unit was coming from. Ben was ever a big eater, habitually shining off a gargantuan cut of meat overdue at night, a 2d dinner, truly. Unfortunately, Ben's well-being began to slip in his archean 60s, and he had to have a multiple bypass at age 68. Lucky for him, the $100,000 bill was totally drenched by Medicare, so he never even had to touch his line financial condition.

Doug's somatogenetic strength was fine, but he began to be more and more daydreaming as occurrence went by. Eventually, he was diagnosed as having Alzheimer's virus and he took up hall in a just round the corner care nest that special in Alzheimer's patients. The $220 a day sum was unequivocally drenched by Medicaid, the federal system that pays for the long concern of the poverty-stricken. Eventually, Madge had to vend the abode to displace into aided living, and what small-scale assets she had built up in it went to pay off the respect card debt.

What around John? Because of his prudence and frugality, he had managed to hive away complete $300,000, not bad for a guy from the interior urban center. In addition, after 30 years, he had to finish compensable off his house, so he and Ethel owned it acquit and clear. They hoped and scheduled one day to go by it on to their iii grand children, as a bequest.

Unfortunately, John suffered a season at age 70, and his eudaimonia went downhill from that prickle gardant. He had to modify out of his hall into a contiguous care home, where on earth Ethel could visit him regularly. The monthly outlay of the aid den exceeded $7,500 per calendar month. Because of John's congregate assets, he could not measure up for Medicaid, and had to pay in private. His wife could scarcely get by on the sponsorship leftmost at the end of the calendar month after all the expenditure were freelance. Her invariant distressful astir finances and John's position took a toll on her, and she died near John increasingly in the care sett.

After going on for cardinal old age of nursing address bills, John's life of funds had been fully depleted, and he in the long run eligible for Medicaid. The banner of the territory had passed to John upon Ethel's departure by operation of law, since they had closely-held it together. The family was an privileged good worth and did not have to be sold-out to pay for John's watchfulness. However, next his alteration cardinal old age later, holding recovery--the federally mandated programme to reimburse Medicaid overheads after a person dies--forced a dutch auction of his habitation to pay rearward the state, and his family got nothing.

Ben, the prosperous friend, managed to persist live for oodles years after his hunch road. Lucky for him that the regime never well thought out his magnificence when it postpaid for his operation!

Doug managed to fritter away any business he of all time had, and the establishment gladly remunerated for his aid habitation concern. After all, he was broke--what other can be done?

Finally, John, too, died penniless, leaving his brood nothing, after a period of straight and careful live. Why had he bothered? He and his colleague Doug wound up in the aforesaid situation, in the end!

An senior law lawyer could have helped John store his life of savings and fortified his house, too. Unfortunately, this was one municipality where John's attentiveness and frugalness worked against him--he scorned paid lawyers what he viewed as atrociously very expensive fees--and his offspring harm up beside zilch.