Reply to What happens to people who saved nothing for retirement?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I’m a nanny, and if it wasn’t for my mum, I’d be completely screwed. I am 48, paid legally, so at least I’ll get social security. My mum bought me a condo 10 years ago (currently worth 500k) and I have about 100k in savings. I live in an extremely HCOL city in California and even with my condo paid off, it’s hard to get by. My mum is planning to leave me half her estate, worth about 2 million. I know that after taxes, it won’t be enough to retire, but I’m so grateful if I’ll be able to get 500-600k from my mum. I have a learning disability and never graduated college (tried and flunked out 5 times) so nannying is really the only job I can do that pays well. I love kids, so is a great job, but sadly doesn’t pay well. I’ll work as long as families will hire me. I plan to retire in North Carolina or Mexico, because I can’t afford California. [/quote]
You know a $2 million inheritance wouldn’t be taxed, right?[/quote]
PP keeps using the word "mum". If they are from the UK, they will get taxed on that inheritance.  My spouse is from there, and my IL's estate is about $1mil, and it will get taxed in the UK. [/quote]

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