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[quote=Anonymous][quote=Anonymous]"Sounds to me like brother is preserving principle of the investment for himself. Sorry, but there is no reason to not start drawing down the principle for an 89 year old woman. In fact, it's the smartest thing to do."

As long as they are all okay with the scenario of the mother going into a nursing home that accepts medicare, as $200K is not going to cover much time in a home and once they run through the 200K that will be the only option.[/quote]

first of all, medicare generally does not cover nursing home care-- medicaid does.  Second, if 200k is not going to cover much time in a nursing home, then 18k (which is what they would save if they each contributed $100/month for five years) is [u]really [/u]not going to cover much time in a nursing home, so it's hard to see that it will make the difference. (Also note that if they do use medicaid, they will have to exhaust her savings first, which means it's not clear that it's better for them to have spent that 18k out of their own savings first).[/quote]

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