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Reply to "For those of you that KNOW you will be inheriting money... "
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I would pay off the student loans and save for college over the 401(k). But keep adding what you can to it all -- you can't count on ILs money especially if they spend many years ill/in nursing homes. $2M can disappear faster than you'd think.[/quote] +1. My mom's assisted living bill was $9K a month, plus extra help, and miscellaneous expenses (toiletries, meds, clothing). She spent four years in assisted living and needed a LOT of help because of severe dementia.[/quote] Another +1. Both of my parents needed nursing home care, and it spend down A LOT of the money they had hoped to pass along to us. OP, keep saving and let whatever money comes to you be a bonus...but don't slack up on your investing because you're counting on that inheritance. [/quote]
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