Originally Posted by
jbjb
We are our own employers. We can do whatever we want.
Sure you AP's can do and probably in fact do do whatever you want, but Alan seems to wonder how many of you guys do whatever needs to be done, to safeguard your future?
While you're young-ish I can see skipping on health insurance (a calculated gamble) but the reality will probably kick in when you start getting old and your health needs increase.
While working it would be nice but not essential to have an employer-paid benefit program such as health insurance and 401-K, but the real issues will hit AP's when they reach retirement age.
Unless you AP's have filed returns and claimed sufficient income during your working years I see no happy landing for you viz. Social Security benefits; it ain't welfare, you must put in to get out.
I'd love to be a fly on the wall looking at the yearly lifelong Social Security earning statements of the forum's AP's that we get annually, assuming they even get one.
I look into a crystal ball and unless you've regularly filed and reported sufficient gambling profit, or unless you have another means of support then I see a can of Alpo in your retirement years.
Now that doesn't mean AP's won't qualify for SSI during their golden years, in fact I suspect many are drawing it now regardless of their age.
Following the AP highway ain't the worst choice a person could make, it is however fraught with financial peril, especially when you hit your sixties and beyond.