10k/mo minimum in set expenses new reality

[caligas]

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Have you looked at the fine print on umbrella policies? They exclude many situations where they will not be responsible for covering you. Oh, you got sued for malpractice? Not our problem…call your malpractice carrier. Also when you have different insurance companies that overlap the same coverages, each company will try to weasel their way out of covering you. They will say it was the other insurer’s problem. An umbrella just adds to the confusion.

Plaintiff attys. will extract as much as they can from you, umbrella policy be damned. It doesn’t hurt them to ask for more and see what they can get. They will look at your umbrella coverage and add that to the award amount requested. I can’t find a case example where plaintiffs asked for less because you had umbrella coverage.

Agree, still need med mal coverage, and have everything else under one carrier with umbrella dove tailing primary policy with same carrier.

Yes, the umbrella won’t reduce the ask but hopefully it’s big enough to cover the final judgement or settlement. It’s better than walking in with your dick in your hand.

 

[cittykat]

That begs the question, how does anybody survive on $50k/yr nowadays? Genuinely curious how they do that. Rich spouse? Take the bus? Dollar store? Title of this thread is “$10k/month minimum”.

To answer my own question, here is how one person does it. Nice to be single, well-educated, well-connected, unencumbered, and have affluent friends.

How a Graduate Student Lives on $49,500 in Washington Heights

Most of Jill Parson’s friends have higher-paying jobs, but she loves working in research, even as cuts to science funding make it more difficult to find a sustainable career.

www.nytimes.com

 

[ucladoc2b]

To answer my own question, here is how one person does it. Nice to be single, well-educated, well-connected, unencumbered, and have affluent friends.

How a Graduate Student Lives on $49,500 in Washington Heights

Most of Jill Parson’s friends have higher-paying jobs, but she loves working in research, even as cuts to science funding make it more difficult to find a sustainable career.

www.nytimes.com

And affluent parents most likely.

The student housing is key.

 

[aneftp]

And affluent parents most likely.

The student housing is key.

I call it the bank of mom and dad. My cuz in Miami. Still at age 52. Depending on mom and dad. Who brought her the house in cash after she had a foreclosure. And mom and dad (aunt and uncle) will pay for both her twins at University of Miami (their Alma mater).

Imagine paying for two 18 year old twins full price at Miami. Cause they don’t want to leave the 305. And the boys have free tuition at Florida state university. But they don’t want to go there.