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[quote=Anonymous]For most families, money is finite within and across generations. My parents had very, very modest savings along with a mortgage. In the end, we had to help them minimally though they were sequentially on Medicaid for their final years, which includes house/land being sold and all assets disposed.

My ILs had ~5 million in assets and real estate at some point in the last 25 years. Then it was down to ~2 mill and think it may be around a mill now. They probably spent more than they should, but didn't seem as it was excessive shopping (maybe unnecessary), expensive cars, etc, but they did eat out frequently and spent a lot on vacations and winter house rentals. A lot.

They do have LTC and now use for 5x/week home aide coverage for FIL. Feeling like they do not have enough saved for the next phase. MIL is in good health while FIL would probably need to be in a memory care unit if they were to move into a retirement community. I'm starting to wonder if we are going to need to cover their bills at some point. We have the money to do for a while, but not forever without our own retirement and kids' inheritance taking a hit.

I think MIL will be more cooperative than some of the parents discussed here. I simply wish they would have been more conservative in their expenditures. MIL likes to say "You can't take your money with you, so spend it now" and she may have done that. [/quote]

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