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re: 80 years old - 100k
Posted on 6/29/18 at 2:08 pm to hungryone
Posted on 6/29/18 at 2:08 pm to hungryone
quote:
Great point about the potential for long term care...but this isn’t always a consideration. If your family is fairly functional, there are myriad ways to care for an elder that do not require an institution. I just hate to hear of it spoken of as an inevitability....it’s not.
Not so much that it's an inevitability. But if it's even a possibility, it requires at least five years of advanced planning. If a family member *thinks* they can care for her, but realizes a couple of years in that it's more than they can deal with, it's too late to protect her savings or home. As the saying goes, everyone has a plan... until they get punched in the face.
Better to put something like that in place and not need it (she'd have a lifetime estate), than to need it and not have it, IMO.
Posted on 6/29/18 at 2:20 pm to Jag_Warrior
She should spend every dollar of that money she worked hard to save. Just my 2 cents.
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