Reply to What is your net worth if you are 55 years of age

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Seriously starting to worry since you all have such high numbers. At 55 and 47, we have $220k income and $1.4M net worth that includes retirement, brokerage, home equity, and 529. Will have $100k pension (pretax). My greatest worry is elder care because the costs are astronomical. [/quote]

PP, you have a $100,000 pension!!   Relax, you have nothing to worry about.  [/quote]
But the entire thing can be easily consumed by elder care. I’m seeing it now with my parents. [/quote]

Not for the first 20 years![/quote]
[b]Sadly, a lot of people need care starting in their late 60s or early 70s.[/b] [/quote]

Have these people not taken care of their health, or just had bad luck?  Look at Biden -- he is 78 years old and not in need of elder care.[/quote]

DP, but I think this is about hedging bets. You can't count on not needing elder care. If you don't need it, great. But if you do, it can be disastrous. My mother's elder care right now is 12K/month and she's 82. My DH's mother lived to 90 and didn't need any elder care ever. Our solution is to do the best we can to take care of ourselves and pay for PPO healthcare and LTC insurances, on top of investments.[/quote]

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