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Old 02-28-2018, 07:42 AM
 
29,764 posts, read 34,851,819 times
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Quote:
Originally Posted by mathjak107 View Post
my wife says me chasing young girls would be like the dog that chases cars and can't drive ha ha ha
True but you like the fog can hop on and go along for the ride. Seems to work for dogs 🐕
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Old 02-28-2018, 09:58 PM
 
9,578 posts, read 8,880,566 times
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Quote:
Originally Posted by luckyram View Post
No....I wanna live into my 100's.....and be the dirty old non-PC guy flirting with and chasing around women half my age (although I may not be able to do much if I catch them)
Thats great ..problem is you will more likely be sitting in a wheelchair staring out a window with drool rolling out of your mouth..hence the reason for my comment. Yea, if i can be a healthy, active as a 95 year old male of course i'd take it. Good luck seeing it.
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Old 03-01-2018, 12:07 AM
 
5,616 posts, read 8,546,901 times
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Quote:
Originally Posted by Winter Sucks View Post
The depressing point the OP was making is that what good is it to save up a big nest egg only to have it go to pay a nursing home?
Setting aside the fact my 93 year old grandmother lives in her home (alone, grandfather died of WW2 Complications (inoperable shrapnel derived complications) @88) cuts her own grass etc.

You plan on going straight from work to a retirement home?
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Old 03-02-2018, 08:08 AM
 
6,532 posts, read 1,339,947 times
Reputation: 16547
If I am ever put into a nursing home -- I will never voluntarily go into one -- I won't care if it is a dump! We are in now 61 and 64, and we are only retirement budgeting to allow for living until 85. If we die before then -- oh, well -- and if we live beyond that -- oh, well. (But, as we will have our retirement home paid for as we will pay cash for it upfront, if we need to go into an ALF we can sell it and have enough to live quite well for at least a few years -- and the average stay in an ALF before death is 14 months, while the median stay is just five months.

My three grandparents who ended up in an ALF at ages 90-92 were in for two weeks, one month, and about 18 months before they died, although none of them went into one voluntarily and the family waited until it was not even really a matter of choice -- and my grandmothers did not even need part-time, once a week assistance until about age 89.

I personally just think it is stupid and self-defeating to live your last years in "what-if?" and fear. As has so often been said, even 20-somethings can die with no warning. (However, that is NOT to say that I think one should live foolishly, just in case s/he will die tomorrow!)

I also think all the retirement planning "scare tactics" are primarily to benefit themselves, so that their own bank accounts of so-called professional financial planners and advisers. My husband and I are MUCH more worried/scared about both of us making it to 65 and being able to be on Medicare than we are about what will happen to us 25 years from now. Health care is our number one concern right now, not paying for our nursing home care.

P.S. Btw, my grandparents (and none of them very wealthy, btw) all died with money to spare,, and none of them had any "financial advisors" or "retirement portfolios".

Length of Stay in Nursing Homes at the End of Life | GeriPal - Geriatrics and Palliative Care Blog
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Old 03-02-2018, 08:16 AM
 
651 posts, read 333,211 times
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Quote:
Originally Posted by whocares811 View Post
I also think all the retirement planning "scare tactics" are primarily to benefit themselves, so that their own bank accounts of so-called professional financial planners and advisers. My husband and I are MUCH more worried/scared about both of us making it to 65 and being able to be on Medicare than we are about what will happen to us 25 years from now. Health care is our number one concern right now, not paying for our nursing home care.

P.S. Btw, my grandparents (and none of them very wealthy, btw) all died with money to spare,, and none of them had any "financial advisors" or "retirement portfolios".
There is a lot of sense in what you say here. But one should still save to make those retirement years (xx - 85 in your case) Tolerable an hopefully above average.

It is not responsible to not save for retirement in one way shape or form.
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Old 03-02-2018, 10:10 AM
mlb
 
Location: North Monterey County
3,179 posts, read 2,852,979 times
Reputation: 4876
There are certain ailments for which assisted living is well designed for.

There are ALCs that are wonderful - provide activities, medical assistance when needed, recreation therapy, music therapy, field trips, trips to the store, rides to the doctor.

I realize they are few and far between. If the choice is between not being able to function on my own in my own home - and this..... or ending my life?

I would choose an ALC. They are not all prisons.
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Old 03-02-2018, 11:18 AM
 
Location: RVA
2,164 posts, read 1,264,598 times
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Quote:
Originally Posted by whocares811 View Post
.......We are in now 61 and 64, and we are only retirement budgeting to allow for living until 85. If we die before then -- oh, well -- and if we live beyond that -- oh, well. (But, as we will have our retirement home paid for as we will pay cash for it upfront, if we need to go into an ALF we can sell it and have enough to live quite well for at least a few years .......My husband and I are MUCH more worried/scared about both of us making it to 65 and being able to be on Medicare than we are about what will happen to us 25 years from now. Health care is our number one concern right now, not paying for our nursing home care.

P.S. Btw, my grandparents (and none of them very wealthy, btw) all died with money to spare,, and none of them had any "financial advisors" or "retirement portfolios".
And does your retirement income sources and amounts compared to your grandparents match the percentage of your inflation adjusted costs of living? Did they have pensions plus their SS? Did they see the same percentages on increases in healthcare and end life costs that you will? If you are MUCH more worried about affording healthcare to make 65 than you are about affording life past 85, then good luck... ecause if inflation takes off as it has plenty of times in the past, then you will need it.

Todays retirees are not in remotely the same economic and cost situation as retirees from 30 years ago, and the 30 somethings now will think WE had it easy compared to them. I think itís hysterical what my grandparents lived on, and even my dads costs today, compared to what I see mine being at his age.
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Old 03-02-2018, 11:58 AM
 
2,561 posts, read 1,018,889 times
Reputation: 2002
Quote:
Originally Posted by whocares811 View Post
If I am ever put into a nursing home -- I will never voluntarily go into one -- I won't care if it is a dump! We are in now 61 and 64, and we are only retirement budgeting to allow for living until 85. If we die before then -- oh, well -- and if we live beyond that -- oh, well. (But, as we will have our retirement home paid for as we will pay cash for it upfront, if we need to go into an ALF we can sell it and have enough to live quite well for at least a few years -- and the average stay in an ALF before death is 14 months, while the median stay is just five months.

My three grandparents who ended up in an ALF at ages 90-92 were in for two weeks, one month, and about 18 months before they died, although none of them went into one voluntarily and the family waited until it was not even really a matter of choice -- and my grandmothers did not even need part-time, once a week assistance until about age 89.

I personally just think it is stupid and self-defeating to live your last years in "what-if?" and fear. As has so often been said, even 20-somethings can die with no warning. (However, that is NOT to say that I think one should live foolishly, just in case s/he will die tomorrow!)

I also think all the retirement planning "scare tactics" are primarily to benefit themselves, so that their own bank accounts of so-called professional financial planners and advisers. My husband and I are MUCH more worried/scared about both of us making it to 65 and being able to be on Medicare than we are about what will happen to us 25 years from now. Health care is our number one concern right now, not paying for our nursing home care.

P.S. Btw, my grandparents (and none of them very wealthy, btw) all died with money to spare,, and none of them had any "financial advisors" or "retirement portfolios".

Length of Stay in Nursing Homes at the End of Life | GeriPal - Geriatrics and Palliative Care Blog
My mom never thought she would end up like she did. She/we never do and it's probably a good thing.
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Old 03-02-2018, 12:05 PM
 
3,072 posts, read 816,938 times
Reputation: 1704
My grandmother paid a nursing assistant $7 an hour for basic care in a small college town in a rural county back in the 1990s. The housekeeper who came in on weekends earned $6 an hour.

Plus, my grandmother remained mentally competent to the end of her life (even pushing a medic alert for assistance the night her heart finally failed). Although frail, she was responsible and able to take charge during the evening and night hours.

We should all be so lucky.

OTOH, she lived in a one-floor condo in an elevator high-rise with wide hallways and doors, large rooms that you might think ideal for a little old-lady-home but not quite. There were no showers, just baths. She needed to navigate wide open spaces to reach the kitchen.

I wanted to bring a contractor in to install grab bars (then later redo the master bath) but my aunt (the difficult one mentioned earlier) was opposed saying it would negatively impact resale values. The nurse wanted to take charge of the project (which I thought ideal for I didn't live locally) but then so over-talked it that she only upset my grandmother. It never did happen and fortunately my grandmother never fell but she did end up somewhat trapped in her bedroom wing the last several months.

Nothing wrong with planning ... and then planning again.
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Old 03-02-2018, 12:23 PM
 
6,532 posts, read 1,339,947 times
Reputation: 16547
Quote:
Originally Posted by Perryinva View Post
And does your retirement income sources and amounts compared to your grandparents match the percentage of your inflation adjusted costs of living? Did they have pensions plus their SS? Did they see the same percentages on increases in healthcare and end life costs that you will? If you are MUCH more worried about affording healthcare to make 65 than you are about affording life past 85, then good luck... ecause if inflation takes off as it has plenty of times in the past, then you will need it.
Okay, to answer your questions -- my grandparents lived entirely on Social Security except for one VERY small monthly pension of something like $89 a month. When they retired in about 1963, they bought their brand new (but modest) home for about $19,000, and they probably had about the same amount in the bank, judging from the GREAT interest rates of the 70's and 80's and what they ended up with. (This is just a guess, however.) My grandmother outlived my grandfather by ten years, and when she died, she still had her home without any mortgage on it and about $20,000 (still) in the bank and this was after paying for a total of approximately six weeks of nursing home care (two weeks for my grandfather and four weeks for her).

In comparison, if my husband and I sold our home today and bought our planned retirement home (smaller but nicer than our current home) in full, we would still have very sizable savings remaining --almost three times as much as what my grandparents had if one accounts for inflation. I used the following link:

$20,000 in 1963

So, the reason I am more worried about health insurance than I am about retirement is that if we were to lose health insurance before my husband turns 65 (in about 3 1/2 years) and we are hit with some kind of catastrophic medical bill, that would mean that we stand to lose all or most of our future security, and THAT is why I am worried.

However, I will grant you that medical expenses, with or without Medicare supplements, are still MUCH greater than what my grandparents paid--- and that is why I think that the cost of medical care is out of control and should be the number one concern of our political leaders. Even now -- and I don't think is unusual -- my husband and I pay approximately twice as much for our health insurance premiums as we did three years ago.

https://www.aarp.org/health/medicare...are-costs.html

https://news.ehealthinsurance.com/ne...-shopping-data

However, I will grant that interest rates are not NEARLY what they have been in years past, either (reaching a peak of 14.6% in May 1975)-- but at least FDIC accounts under the maximums allowed are no risk, and that cannot be said of most other investment accounts. (Please correct me if I am wrong.)

https://www.davemanuel.com/2010/03/0...united-states/
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