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Too many variables to set what is a good amount to have in the bank upon retirement.
So many questions:
How much social security to collect?
Any pension/401K?
Will be working part time?
Lifestyle
Monthly living costs
Mortgage paid?
And the biggest variable though is health. Can you plan to fall ill and need full-time care? If so then having $1mil+ could be very helpful in living out life without stress, having money to pay.
Change is the only certain thing and that means whoever's in charge of running the country today will be different in 2 years or so.
You can still save and invest with the idea that you'll never be sorry you have a nice nest egg over a period of time spanning up to 25 or 30 years. In fact that's what a lot of people manage to do, and in their time span of saving they will likely see 4 to 6 different presidential administrations.
All anyone can do is spend effort on things they can control -- how much they save, how much they invest, how they choose to invest, what lifestyle choices they make and what they prioritize.
not sure how you came up with that short of a nursing home but fidelity does their yearly estimate and it can run about 220k for a couple.
i know with us dental has been insane the last couple of years hitting 5 digits but hopefully that is done for a while and glasses just cost us 1400.00 for the two of us last week . my lenses alone are 600 bucks each time . .
I wear progressives, and at the eye doctor, my lenses cost that much. By the time you add in frames and my fabulous e-clips sunglasses, it’s about 800 bucks.
I now go to Costco. My glasses are now 250. I still have to take them back to my eye doctor to order the e-clips, but I keep passing e-clips information to Costco. So add another 135.
Here’s the thing. Costco gets last years frames. I don’t think frames change much year after year. However, since the frames are no longer in production, they may be harder or impossible to repair.
I’ve been wearing glasses forever. I have never broken a pair of glasses. Husband has...in ways that are not repairable. So, for us, it’s a non issue.
Don't get me started on eyeglasses. There is a near monopoly that keeps prices astronomically high. The Italian company, Luxottica, controls almost all of the brands and retail outlets including Sears, Pearle, Lenscrafters, Sunglass Hut, and many others. As the main supplier they also have tremendous leverage over stores they do not own. They help keep prices extremely high. I always wonder about the actual cost of production for quality eyeglasses and sunglasses. I would guess a reasonable retail price should be in the range of $25 for frames and $50 for lenses and coatings.
They're out there. I recently replaced mine: two pairs with bifocal ... $98.
The ripoff here is that the optometrists got the state legislature
to time limit prescriptions to one year. No current Rx? No new glasses.
I have had cataract surgeries and wear glasses. It is very unlikely that my prescription will change. I do get an annual exam anyway, but I am billed for the prescription portion of the exam which is not covered by Medicare.
It is very unlikely that my prescription will change.
Mine hasn't changed in close to twenty years but I am very rough on the glasses
so I'll need to replace them due to scratches and/or frame damage about yearly.
The two pairs deal (same exact size/style) allows me to cannibalize the two pairs
to squeeze another 6-12months of use from the set.
Quote:
I do get an annual exam anyway...
Do what the doctor you trust recommends.
The one I trust suggested a real Opthalmalogist alternating with the Optometrist.
But that never needed to be done more than every 3rd or 4th year...
which works out well with my pattern of abuse.
there are online eyeglass places where you just put in your prescription information. no need for proof of your prescription being current like contact lenses.
I picked up a basic pair of glasses for my kid who kept breaking or losing her glasses for $12 and getting glasses for myself with a few extra options for 50-80 delivered.
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