Reply to How much annual budget do you need to feel comfortable in retirement?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Our goal is 360k/yr after taxes in today's dollars  because that covers assisted living for two people. We probably won't get there, and that is ok because most people do not need assisted living for all 30 years of a retirement.[/quote]

People usually only need it for a couple of years [/quote]

Well people tend to live longer.  I have 5+ elderly relatives who have been in Assisted/memory care/nursign care for over 2 years.  One was in memory care for 7+ years, caught the flu and it them in.  But otherwise had been looking at easily another 2-5 years.  Another has been in nursing care for 3+ years now, still going strong relatively speaking.  It's not that far fetched to need advanced care for more than a few years.

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The average nursing home stay is less than 1.5 years. The average assisted leaving stay is 1-3 years.  These are averages but 7+ years is not the norm.  Not saying you shouldn’t plan for the possibility but it’s unlikely.  [/quote]

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