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[quote=Anonymous][quote=Anonymous][quote=Anonymous]For those of you who don't have LTC insurance, how much are you including in your retirement budget for assisted living, memory care, or long-term care?   My partner and I are trying to budget to have ~$1M remaining at age 90, which could support a few years of LTC for each of us at current rates.  But I also wonder - what if one of us has a stroke at 70, and we need 10-20 years of continuing care?   Just wondering what other people's assumptions look like.  [/quote]

We have 3 ways of thinking about this:
1)We're thinking about doing a small joint QLAC that is deferred for old-age so that the elder care for one spouse doesn't bankrupt the other.  Basically to bring it up so that social security + annuity equals very basic expenses.

2)We're planning on putting aside 250k each at retirement that is invested for long-term care through a combination of stock index and t-bills/TIPS.

3) We are doing our planning to leave an inheritance (we put it in the models as a minimum of 500k inflation adjusted) that ostensibly could be tapped if the first two things aren't enough.

So 2 and 3 are kind of like your 'ending with 1 million' but we're instead doing 'setting aside 500k at point of retirement and letting it grow with that investment time frame" and 'ending with 500k extra as a minimum."[/quote]

Why not do just #2 and put more seed money into it? i don't get what 1 and 3 are doing in support of LTC that you can't do with additional 2[/quote]

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