Future Finances: Time vs Money

Mnd

This is what we are pondering in the future. My wife has PMI with her work, and we pay to have me on the policy, this was a godsend when I had prostate problems a few years ago.

We are thinking that when my wife retires in 4 years time this is the one extra cost we will try to build in to our plans

sukysue

Thank you Tracey , you are right, the GP'S are very quick to write out a prescription for pain relief and not do any investigations. I have to say though my DH has a bad shoulder injury and he has bee treated much better than l have. I need to see how this Sciatica goes , there is a thread here about Sciatica l noticed. l will go and have a look now!

crv1963

We've never thought of PMI, something I'll have to add to my list to look into especially for none life threatening things that go wrong and aren't at the top of Govt. NHS Targets.


We get our Travel Insurance through my bank account, pay £30 pa for Mrs CRV to be added, get European Cover (also bizarrely the Middle East counts as Europe!) To extend it for us both for the year to travel world wide is only £20.


There's a will writing service through my union so am going to look into it to see if they use solicitors or not.

thriftytracey

lessonlearned wrote: »

thrifty......you raise a very interesting topic here and one which only last night I was thinking about. That is PMI.

I have a similar story to you....about 18 months ago I hurt my knee. Went to GP who immediately reached for her prescription pad to fob me off with painkillers. I mentioned I had PMI. Immediately she changed her tune and said "oh yes this needs to be investigated, you need an MRI - after all you could be at risk of long term damage."

Turns out I had damaged my meniscus, as my Physio had suspected. Only an MRI could confirm the diagnosis, but I had to pay to find out. (well the insurance paid of course).

As I am now Retired I fund my own PMI (and other things like Physio etc). Problem is, the older I get, the more expensive the premiums become.

Last night I was reviewing my finances and I found myself starting to wonder if I should stop the insurance and "self fund". However, your experience, which mirrors my own, makes me loathe to give up PMI. It's a tricky one.

I think For now I'll keep the policy going and then review when it comes up for renewal. See if I can trim the budget elsewhere to cover any increase in premiums.

One thing is for sure......the older I get, the more high maintenance I become.....lol.

Mr T also has a damaged meniscus in his knee. We used the PMI to see a consultant, MRI etc. Unfortunately there was not a lot that could be done. He did get a special pain killing/steroid type injection not available on the NHS and got some leg things to wear to try and stop him using the other leg and damaging that one. I think the only thing was a knee operation however that isn't done until a person cannot walk 100 yards. He is a long way off that thankfully.


LOL I try and use the PMI for myself and Mr T each year I am employed. I've also had a shoulder operation on PMI and it is now good as new. The other good thing about it is immediate physio if required, out of work hours, at a convenient location and no waiting. I don't think PMI will be affordable after retirement. Lord knows what the premiums would be.


I feel guilty using it though. I think I am contributing towards the inexorable move towards private health care. I am sure there are lots of US private health care companies waiting in the wings for the NHS to collapse.

sukysue

I won't be taking up PMI but l think whoever does then it is money well spent. I would pay to go private if l had the money though.

ShyAndRetiring

:wave:

Hi all

I'm just stopping by quickly to apologise for being AWOL and also to let you know that I'm not likely to be around for the foreseeable.

In an awful twist of fate, the scenario of potential care for elderly parents has sprung to life, as my step-father had a stroke this week. This has big implications not only for his own health and care but also for my mum as she has a long term disabling (and potentially life-threatening) condition.

We're still reeling and awaiting a full appraisal of his prognosis and as myself and my siblings are in the middle of trying to get things sorted in the immediate and longer term, I'm just not having the chance to be around on here.

I hope you'll still feel at home on the thread, you're all sharing such excellent advice and food for thought. I'll still try to stop by when I can and and hope to rejoin you fully once things calm down a bit.

In the meantime, hugs and best wishes to all of you in your time vs money ventures, and wishing you all many simple pleasures on the way, S&R x

crv1963

Hi S&R,


Hugs and best wishes to you all.


CRV

lessonlearned

Hi S&R.

Sorry to hear your news,


Hugs to all.

thriftytracey

ShyAndRetiring wrote: »

:wave:

Hi all

I'm just stopping by quickly to apologise for being AWOL and also to let you know that I'm not likely to be around for the foreseeable.

In an awful twist of fate, the scenario of potential care for elderly parents has sprung to life, as my step-father had a stroke this week. This has big implications not only for his own health and care but also for my mum as she has a long term disabling (and potentially life-threatening) condition.

We're still reeling and awaiting a full appraisal of his prognosis and as myself and my siblings are in the middle of trying to get things sorted in the immediate and longer term, I'm just not having the chance to be around on here.

I hope you'll still feel at home on the thread, you're all sharing such excellent advice and food for thought. I'll still try to stop by when I can and and hope to rejoin you fully once things calm down a bit.

In the meantime, hugs and best wishes to all of you in your time vs money ventures, and wishing you all many simple pleasures on the way, S&R x

Oh, what bad news Shy. Thoughts of all are with you during this difficult and worrying time. Thrifty

joansgirl

The best laid plans of mice and men

Good luck with it all S&R, we'll still be here when you get back