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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I do not count on it.

Memory care is $140,000 to more than $220,000 yearly.

They could need memory care and that would eat up 2.5 M pretty quick, especially if there are two.

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No way. These estimates are way overblown. First off if you’re in memory care you have no other expenses. You also still earn social security, pension, dividends etc.

The chance of you having someone in memory care for years and the spouse too means you moved them there too early. The average stay isn’t even 2 years.

You should be more worried the market collapses. [/quote]

Those prices for memory care are definitely not overestimated. Not everyone wants to go to a facility. [b]My parents want full time carers and at $30/hour it's over $250,000 a year plus taxes, and house expenses, meds, etc[/b]. [/quote]

This is crazy expensive and you can use common sense to figure out this is abnormal. There would be a huge market if you could take care of a couple 24-7 and earn $250k without even having a college diploma. Heck even at $150k you could have live-in help.

My own parent ended up in memory care and it cost us all out maybe $250k over 2.5 years at a facility. He earned interest and dividends at this time and his net worth continued to grow.

Do you also think college has to be $80k per year?  I ask because it’s a similar mentality and it just means you’re a big spender and aren’t smart about things. Sure, if you want to spend $1 million educating your kids and $1 million on LTC you can do that. But it isn’t necessary.

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