I work in healthcare. Unexpected serious illness is much more common than you seem to believe.
Really? What's the probability here? 1 in 10 people? 1 in 3 people? Like I said, It's a game of probability and hope :)
Hope is not a strategy. My only point is the target of $1-2M is far too low in the USA. Especially as the vast majority of people are going to require healthcare services at some point. Those exceptions are largely tragic early deaths.
In the absence of universal healthcare, those costs are huge. So the FIRE community should either advocate for adoption of universal health care, or recognize the target number needs to be much higher than simply .
Again one can argue that what ever number you chose isn't high enough becaue many things can go wrong. What if the US economy crashes and the currency get's devalued? What if youre target was $5 million and you constantly have emergencies that burn away the capital?
It's really a game of probability and hope. How you can chose how safe you want to be but you can never be safe enough in my opinion.
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