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Updated about 8 years ago on . Most recent reply

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30
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Eddie L.
  • Staten island, ny
5
Votes |
30
Posts

is quitting your job a good idea without health insurance?

Eddie L.
  • Staten island, ny
Posted

everyone said quitting their full time job. i work for the city and the biggest benefit of the health insurance is only a few dollars per month for my family. i went to those health insurance truck that parked on the sidewalk to get a quote. i am married with only one 2 year old and planning to have another one. they told me with my salary. it could cost me about $500 per person/month in my household. let just say without the 2nd kid. it will cost me about $1500 per month for 3 of us. that's without going to the hospital or anything happen. i want to quit my job too but my health insurance will be from a few dollars for my family per month to $1500 per month. what's your opinion? if you did quit your job what's your insurance policy like? any advises would be appreciated. do i have to buy 3 or more houses to cover the cost?

Most Popular Reply

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1,073
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James Mc Ree
  • Rental Property Investor
  • Malvern, PA
810
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1,073
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James Mc Ree
  • Rental Property Investor
  • Malvern, PA
Replied

Health insurance is only one aspect of your "freedom" plan.

Tally your overall expenses: Housing, food, clothing, insurance, medical expenses (those babies aren't cheap!), transportation, entertainment, kids' education savings, etc.  What is that total?  That is the LOW END of your target.  Inflation will make this grow.

How are you going to EXCEED that overall target?  Why exceed?  Your plan probably won't be executed to perfection.  You might earn less.  Some things might cost more.  It is best to have a margin of error.

if you plan exceeds your target and is reliable and sustainable, then working your current job, some other job or doing something else all become options.  Keep working on saving, building your capabilities, planning and executing if not. 

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