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Strategies & Market Trends : Dividend investing for retirement -- Ignore unavailable to you. Want to Upgrade?

To: E_K_S who wrote (7018)	12/31/2010 1:00:18 PM
From: Steve Felix	1 Recommendation Read Replies (2) \| Respond to of 34328

That is not the first time I have heard something along those lines re: long term care insurance. I'd have to classify myself as almost anti-insurance. If something can bankrupt you such as auto and home insurance, I've got it, but everything else is up to the individual imho. The wife and I haven't had life insurance since I had enough banked to pay for my girls college education. Once you know a surviving spouse will be ok, I'd rather invest the money. Many views are formed by what went on in our lives. My father had a pension and decided to take the larger payout on his life only. He died in a car accident at 64. Goodbye pension. One grandfather lived to 96. Never spent a day in a long term care facility. One of his daughters cared for him the last five years of his life and was compensated $1000 a month. 60k, a far cry from 200k. My mother in law had a cancerous kidney. The operation didn't kill her, but the blood clot three days later did. My own mother is 80 and chugging along fine, living in her paid for house. Worse comes to worst, she has some money, and a house to sell if need be. She could also just not wake up some day. We've had frank discussions on this subject. She says she has had her life and will never move in with me. I told her she will until she no longer knows my name. We never know what the future will bring, but not spending some money worrying about it doesn't make sense to me. I'd never want to "bet" that I end up in a nursing home. I have decided on a $$ amount that I would like to always have just in case. I'm planning on spending down to that amount, traveling when the wife retires. ( not waiting, we already have plane tickets to Paris next June ) If the sh*t hits the fan, maybe it is gone. If I am laying in a nursing home, doubtless I will be thinking about the good times and not whether I saved enough to pay for it.