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[quote=Anonymous]For [u]couples[/u] planning to self fund, how much do you estimate you will need to "reserve" in case you both need care? $500,000, $1,000,000?  While I think we have an adequate amount to fund our lifestyle in retirement, setting aside a $1,000,000 or more for a contingency like LTC would put a significant dent in what we could spend while we're healthy.

We do have a paid off home worth currently about $750,000 but because of the cost of buying even a smaller home here (DMV), and children/grandchildren in the area, it's unlikely we will move from the colonial we've owned for decades until we are unable to manage the stairs.  So far, I haven't considered this as a pot of money for LTC because there will be taxes on a good portion of the sales proceeds plus one of us may need to live in it while the other is in care.   However, even if LTC is not necessary, it is not well suited to aging in place once we are in our 80's.   So I suppose the day will come that we will need to consider a condo or other one level home or renting, possibly in one of those continuing care communities.   [/quote]

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