Personal Finance Issues and the US Election

Politics aside, there are some major personal finance issues that are going to affect how folks plan and pay for things like retirement, job loss, unemployment, and of course financial freedom.

Universal Health Care
To me perhaps the most significant of all issues is that of Universal Health Care. I think most would agree that our current system is broken. However, most of us who can afford health insurance or have group insurance through their employer are able to manage ok. The problem really begins to manifest itself with chronic and/or "pre-existing" illnesses, unemployment, self-employment and/or age.

Everyone under the age of 65 is at risk of becoming "uninsurable", losing coverage, or being unable to afford health insurance with a single event. This affects anyone's ability to put in place financial plans and goals with this issue looming over them.

Social Security Reform
Another broken system that impacts every one of us. Of course, no electable politician will touch this career ending issue. How can anyone put retirement plans in place if we don't know if the country's retirement system will be around?

The only answer here is to assume it won't be. That means we all have to save a lot more for a lot longer to secure our retirement.

Ok I’m done on the soapbox. I don't care who wins, I just hope our elected government will address these issues so the rest of us can get our financial houses in order :-).

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Comments (3)

Social Security is big problem for our generation, but what does it say about our generation that we will pay the taxes and expect nothing back! We are either too ignorant to realize this or too spineless to demand change. For all you numbers people if you start out college making 30k and get 3% raise all the way to 65 you would have paid $159k ($96,439.87 in today's dollars with 3% inflation). I want my $159k back at least, you can keep the investment gains for all I care. Just don't steal from me, we fought a war for that. the only problem is now we are taxed with representation. Demand more from your legislature.

Posted by TXAG03 | March 12, 2008 2:53 PM

For my mind our elected government will address these issues so the rest of us can get our financial houses in order :-). Really that is a true

Posted by Luise | March 13, 2008 12:26 PM

The answer is the economic polices that Ron Paul espouses. Youtube of Paul on the National budget and the decline of the dollar. Fast forward 1minute or so to get to the good stuff. http://www.youtube.com/watch?v=PoxlzPGIPt4

Posted by FreeDumb | March 14, 2008 3:22 PM