Reply to Middle-class, reasonable, not extravagant retirement plans

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[quote=Anonymous][quote=Anonymous]My parents are retired in the DC exurbs in a nice house which cost $400k.

They live off of their social security check. They have about $500k in retirement and another $400K in savings. They still owe a decent amount on their mortagage, but the monthly payment is manageable.

My parents never made 6 figures, so their needs/expectations for a nice lifestyle are very different that folks who made a large income.

My parents travel to visit family, and do a trip to Europe maybe once every 3 years.

They will not be able to afford years of assisted living if it comes to that. But siblings will likely help out if needed.

I think this is not the right forum for this question - people here can’t seem to imagine living on $200k, much less not saving millions to retire.

[/quote]

I'm the OP and I appreciate this response. Honestly, your parents are living my retirement goals for the most part except I'd like our home to be paid off and I do worry about end of life care a bit, but I also feel like that's one of those things where you could spend millions on it if you have it and also you could wind up in a pretty crap facility paid for by Medicare. Most of us will wind up in an in between situation, where we have some money but not enough to afford top of the line care, and then you just hope for relatively good health and write a really good living will so you don't wind up a vegetable.

Having enough to cover your expenses, travel a bit, do a couple hobbies, and live near enough to kids to see grandkids sounds good. I'm impressed your parents have found a way to do that even while still paying a mortgage, and in a part of the country where housing is expensive.

Most middle class people would be able to live as your parents do without feeling like they are missing out, I think. That sounds like a decent life to me.[/quote]

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