Originally Posted by
chewybrian
Not surprisingly, I don't know that. I assume it makes sense to bet long so you don't end up in the poor house. But, I have a sense that the medicare question is tied up with all this. Can I lock in a certain payment for a supplemental policy and figure out my real health care cost, or should you just keep on banking all you can in case you end up in a nursing home or something?
On the flip side, of course, there is something to be said for enjoying life while you can still do it.
I was somewhat kidding of course as none of us have the answer to that vexing question. And it also depends on if one has heirs. If my wife predeceases me, I have no kids and would prefer to pass with $10 left in the bank.
My retirement advisor has a plan whereby I have a few hundred thousand remaining when I hit 92. And I'm thinking I'm not likely to live that long.
I'm closer to retirement than you and still don't feel confident regarding supplemental insurance. There are so many anecdotal stories of medical bills resulting in financial ruin. OTOH, my mother passed from a long and expensive battle with cancer and they said the out of pocket costs were minimal. With the right plan, it's not a problem. But how the heck do I determine that?