[quote=sdrealtor]
Two points, boomers will spend that money at a mcu greater clip than the greatest generation ever did. Second, looking at my Mom and my relatives none of them own real estate anymore. They are all living in nursing homes, assited living and lifecare communities. They also all have LTC insurance that foots the entire bill for those in nursing homes or assisted living. I know this isnt the way everyone is but among upper middle class folks in metroplitian areas it seems to be more the rule than the exception. They lived carefully all their lives and preapred for this just like I am doing.[/quote]
Except when they don’t have LTC insurance – they have to spend down their “wealth” and there’s less to pass on.
Perhaps 100% of your elderly relatives have LTC insurance. For my family it’s a mixed bag – and same for my peers… Some have it, some don’t. And of those that have it – some use it up – and keep on living. Most LTC plans last 3-5 years.
