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[quote=Anonymous][quote=Anonymous]I’m saving for retirement as though I won’t receive it. I’m an only child and my mom is worth $3 million. She spends around $75k a year and doesn’t spend her RMD. She earns around $80k a year in dividends and pension. She’d still earn that in LTC and in my LCOL it’s closer to $90k. I’m more concerned about a market collapse. [/quote] +1 the market collapse is what has me worried. From what my mom has said, her RMD surpasses her spending - reasonably significantly I think. She's in a CCR, but independent living so it's pricey, but not as expensive as it could be. I don't think my parents were spending their RMDs when my father was alive and in assisted living and memory care. I also am skeptical that all of these posters expecting $5M aren't thinking about it all all...I'm not counting on it, but like a PP said, it's partly how I have finally gotten over the "bag lady" fear. [/quote]
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