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Getting Personal: Marital finances, saving for children

On tap this week: A San Franciscan who recently introduced his bride to investing and is looking for advice on how best to handle their money as a couple and a single mom asking for advice on how to get the best return from what little she can save.

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I was listening to your show last weekend when a woman in her fifties came on asking for advise on how to get the best return on the limited extra money she had every month. What got my attention was her comment that she did not have health insurance coverage. Neither of the presenters appeared to pick up on her statement but it resonated with me.

Like her I am in my fifties and single, altho' without children. My finances were limited as I had quit work to care for my disabled father. I had always been healthy but because I owned a home and had other assets maintaining my health insurance was a priority. I finally ended up with a high deductible ($3000) private pay plan through blue cross.

Thank heaven I'm a planner. Last year out of the blue I developed a medical condition and then had a bad reaction to medication. After 5 weeks in hospital and another two months recuperating I recovered but racked up $150,000 in medical bills. Luckily I only was responsible for the $3000 deductible. And if you say, well she's just the exception I currently know of two other women in their fifties that were previously healthy that also developed unexpected expensive medical conditions. We are all non-smokers, normal weight and healthy eaters. Things happen.

I would urge your presenters to pay more attention to health coverage be it private pay or applying to public assistance if applicable. I can't imagine being in my fifties with that $150,000 bill hanging over by head. Even though it's not cheap and with a high deductible I consider my health plan to be a bargain and a good investment. There is no way I could of earned and saved the $150,000 in the years I still have to work.

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