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anything can happen . that is why we did our best to mitigate the damages both with the best medical insurance coverage we could get and a partnership plan for long term care with our state.
we use a small percentage of the returns we get on those assets to protect the assets themselves as best we can . even then nothing is ever perfect.
but i put the most comprehensive plan i could come up with that we could afford in place for both what if we live , as well as what if we die .
Exactly! -- We've done the same ... it's hoping for the best, but, planning for the worst. If things work-out, then good! -- If things don't work-out, then plan B comes into effect to protect one's spouse and perhaps leave something for the kids (life insurance, long-term care plan, death benefits on annuity, life trust, etc).
Everyone dies and for them, the amount of time they spent in retirement, no longer matters. In our case, I retired early at 61 and did and have done a great deal of travel etc. since then ... but, still in great health 7-years later with no major health or financial problems on the horizon...so, 'hoping for the best' is working-out.
The cases of financial disasters (retirement and other) that I've witnessed are primarily among those who simply 'hoped for the best' --- even when 'unexpected things happened' (which they always do). My wife's BIL (now), for example, was married for many years and his wife retired with a significant pension. But, then, she died a couple of years later ... with NO insurance (and he is a professional tax accountant) -- Ultimately, he lost the house and went back to work.
My sister is going to be in that boat.
No retirement savings, no pension. Says she's just going to "work forever".
She lives to shop and could be the poster girl for the "American Consumer"
I figure she'll have to move in with me as SS alone will just not cut it and so am planning accordingly.
Wow! That's extremely generous of you! None of my siblings have prepared themselves for their later years either. But I have no plans to help them. They chose to spend everything throughout their adult lives, including a rather hefty inheritance we all gained from our aunt. I chose to be careful with what I earned, saved & invested as well as prepared legally for the future & provide for my children & grandchild as best I can. As much as I don't want to see my siblings struggle, I can't justify supporting them because they were so reckless. Plus, there are four of them. I doubt I could afford them all anyway.
Wow! That's extremely generous of you! None of my siblings have prepared themselves for their later years either. But I have no plans to help them. They chose to spend everything throughout their adult lives, including a rather hefty inheritance we all gained from our aunt. I chose to be careful with what I earned, saved & invested as well as prepared legally for the future & provide for my children & grandchild as best I can. As much as I don't want to see my siblings struggle, I can't justify supporting them because they were so reckless. Plus, there are four of them. I doubt I could afford them all anyway.
We grew up as friends as well as sisters. And we've lived together before for 2 years so I already know that we mesh ok as adults.
My next home will be a new build. I'll just build a 3/1 instead of a 2/1 (plan to have 1 really nice bathroom rather than 2 regular bathrooms).
We grew up as friends as well as sisters. And we've lived together before for 2 years so I already know that we mesh ok as adults.
My next home will be a new build. I'll just build a 3/1 instead of a 2/1 (plan to have 1 really nice bathroom rather than 2 regular bathrooms).
Again, very generous of you. May I suggest considering building 1 1/2 bathrooms. As I get older, when I've got to to, I've got to go now! Lol! Your sister is lucky to have you. If she's anything like you, I'm sure your lives will be full of happiness & contentment.
We grew up as friends as well as sisters. And we've lived together before for 2 years so I already know that we mesh ok as adults.
My next home will be a new build. I'll just build a 3/1 instead of a 2/1 (plan to have 1 really nice bathroom rather than 2 regular bathrooms).
Please---have 2 bathrooms, or at least 1.5 baths. Otherwise, there's ZERO resale value!
Also, that second bath goes a long ways towards reducing stress/tension between the two of you. Regardless how well you get along, you are sisters, etc, you just don't realize how your habits change as you get older. I am currently rening a 2 bdr, 1.5 bath with just my dh, but that extra half bath makes a difference. Especialy when he sits in there and reads
Please---have 2 bathrooms, or at least 1.5 baths. Otherwise, there's ZERO resale value!
Also, that second bath goes a long ways towards reducing stress/tension between the two of you. Regardless how well you get along, you are sisters, etc, you just don't realize how your habits change as you get older. I am currently rening a 2 bdr, 1.5 bath with just my dh, but that extra half bath makes a difference. Especialy when he sits in there and reads
The area I'm looking in has plenty of 2/1 and 3/1 homes.
I'm not worried about resale value.
I grew up in a family of 7..5 kids and we had 1 bathroom.
The area I'm looking in has plenty of 2/1 and 3/1 homes.
I'm not worried about resale value.
I grew up in a family of 7..5 kids and we had 1 bathroom.
I imagine the 2/1 and 3/1 homes are all older, say, 25 years or more? They aren't still building those, are they? Just curious.
We had two adults, two kids, one bathroom in the 1950's when that was common - didn't think much of it at the time, but I sure wouldn't want to go back to those days.
ha ha ha ha .... i was really referring to another poster who said they read threads with disaster stories as an example of what not to do .
i don't see them as useful in that respect at all. you can't do anything about it if your number is up.
but you certainly can learn a whole lot more about living from more positive threads.
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Guess it just proves people love a good train wreck! 
