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]

I'm guessing there's a lot of variance in this. PP mentions care in the late 60s-early 70s. Yet I know a guy who's the chairman of cardiology at a major east coast health system, still working at age 73 -- the same hours he was putting in at 53 and in his off time -- taking lots of hiking and rock climbing vacations. And then there's my parents' neighbor -- up at age 79 was still commuting 90 min one way into NYC for his engineering job, only forced to retire at age 79 because of the pandemic as public transit commuting wasn't advisable last March but his was an essential worker job that couldn't be done from home.[/quote]

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