Reply to What is your "magic number" for retirement?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]This post scares me. A lot.[/quote]
how much will you have in retirement?

You don't need $5mil unless you have huge expenses and/or want to travel in luxury a lot.

Think about what your expenses might be in retirement.  Then pad it with an extra 20%.[/quote]

My mom has Parkinson’s. She will need care costing 100k per year at some point. You can live a lone time with many diseases. Grandfather was chronically ill 40s and 50s. Could not work. [b]Health disasters can blow through savings[/b]. For me, 3 million is the minimum I would be comfortable with to retire. My magic number is 4 million. [/quote]

I can be prudent and have health insurance and savings, but there's no way I can save enough to cover all possible health disasters. And in some cases, money can't fix the problem.

[/quote]

People with Parkinson’s can be cared for for far less than 100K/ year in the DMV. Who are you talking to that is trying to scare you into spending this much?[/quote]

The quote is from Boston. I am talking about round the clock care. Actual estimates were 100-125 a year. My mom was diagnosed many ago. She is 70 now and immobile. We are getting close to needing full time care. She could live another 20 years. My grandma is 96 (in better health). The bed for my mom just cost 7k. [/quote]

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