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Reply to "What are (or were) your parents' net worths?"
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[quote=Anonymous]Surving parent, age 82, has a net worth of about $300k, all appropriately invested for their age. Plus a pension and Social Security that combined is about $35k annually. Rents a 2 BR apartment in a DMV exurb, lives frugally and draws down about $15k - $20k a year. Parent will do fine unless/until either or both of two things happen: 1. The market tanks (could survive this, but in a weakened financial position) 2. Health goes south and requires expensive long-term care. Which is not a small risk at age 82.[/quote]
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