My Narents (narcissist parents) are 84. Outstanding health. They have had, in essence, *2* retirements and I would submit to you that if you retire late 50s-60 and live into or beyond your mid-80s, you will too!
Why?
Because hopefully your 60s and 70s will see you in excellent health enjoying all the activities you want---sports/workouts, travel, volunteering, taking courses or classes, you name it.
When you hit 78 or so, it's time to locate a CCRC (Continuing Care Retirement Community).
why?
Because you will have many friends and a fun social life rather than sitting home and attending the funerals of your friends, their children, former coworkers. You will have all levels of care provided, including going from fully independent to some assistance, lots of assistance, rehab when needed, supervised exercise including PT, nursing care, Alzheimer's/dementia. At a price arrived at by your care status when you first sign up, with some additions depending.
If you're still reading, this replaces expensive long-term care insurance.
My parents paid beaucoup $ from their early 50s for LTC insurance. And they'll never use it because they are in a CCRC.
Their lives are great--- lots of friends, parties, trips, movies, hobbies, bridge, mah jong, the choir, etc. Good dining choices.
So Bob and I are planning for a 2-phase retirement. I dropped our LTC insurance, which an attorney friend said could be iffy if the company got sold OR fought claims.
What are you guys thinking/planning for? LLJs and Missy, you two home slices are too young for this talk unless you are planners by nature!!!
Why?
Because hopefully your 60s and 70s will see you in excellent health enjoying all the activities you want---sports/workouts, travel, volunteering, taking courses or classes, you name it.
When you hit 78 or so, it's time to locate a CCRC (Continuing Care Retirement Community).
why?
Because you will have many friends and a fun social life rather than sitting home and attending the funerals of your friends, their children, former coworkers. You will have all levels of care provided, including going from fully independent to some assistance, lots of assistance, rehab when needed, supervised exercise including PT, nursing care, Alzheimer's/dementia. At a price arrived at by your care status when you first sign up, with some additions depending.
If you're still reading, this replaces expensive long-term care insurance.
My parents paid beaucoup $ from their early 50s for LTC insurance. And they'll never use it because they are in a CCRC.
Their lives are great--- lots of friends, parties, trips, movies, hobbies, bridge, mah jong, the choir, etc. Good dining choices.
So Bob and I are planning for a 2-phase retirement. I dropped our LTC insurance, which an attorney friend said could be iffy if the company got sold OR fought claims.
What are you guys thinking/planning for? LLJs and Missy, you two home slices are too young for this talk unless you are planners by nature!!!