Member-only story
I Might Be Impoverished In Retirement
Is it Wrong to Spend all of Our Money, then Take Support From the State at the End of Life?
Retirement Living Can be Very Expensive
My wife’s grandmother was a very lucky woman. She had her physical health until the last few months of her life, she passed at the age of 97. She did not have full mental capacity, but was able to live in the moment and was always happy, but as a result she had to be in a care facility as she could not longer do her daily personal needs like cooking and cleaning. Her residence was an elaborate private one with lots of activities, it had a Bowling Alley, Fine Dining, and a Movie Theatre, and even some basic services and shops; all in house, and even a place of worship. She did not have to leave for anything if she didn’t want to, even Doctor’s had a place to consult patients in the building. This did come with a price, that thankfully she was able to afford. She lived here over a decade at a cost of over $60,000/year.
My wife and I are in a bit of a different financial situation. First, a lot of Gram’s money went to her care, we will not inherit any of what is left and that is ok, there never was any expectation.
