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Reply to "How much do people have saved for retirement?"
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[quote=Anonymous][quote=Anonymous]So much depends on two things: if your mortgage is paid off or not, and the lifestyle you want to live when you're retired. It's obviously a lot more manageable if you're only paying property taxes and homeowner's insurance. And then lifestyle: we like to hike, ride our bikes, see an occasional movie. Maybe eat out or go for a drink a couple times a month. I don't need millions of dollars to do this. Yes, my health care costs will likely go up. But this idea that you'll need to pay for assisted health care for 10-20 years isn't the reality. The vast majority of people, when they get so ill they need constant medical attention, do not live decades with said condition. [/quote] Yes...people act like they will be living forever in a nursing home. Average lifespan in a nursing home is 14 months. [/quote]
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