Pink_Slyvie t1_j9xlyjt wrote on February 25, 2023 at 8:00 AM

Reply to comment by hedgehogging_the_bed in Bucks County Has Two Millionaires for Every One Homeless School Child by Open_Veins_8

People really underestimate how expensive late-in-life healthcare is. My grandmother was fairly well off, not rich, but they did well. Her healthcare is going to eat all of her assets, leaving nothing left, she has pretty much exhausted her Medicare, and now they start taking from her assets before she gets more. She could live another decade, but it's not going to be a pleasant existence, I wish I had a way to help.

3M (in today's dollars) is honestly about the minimum, because you will likely reach a point where you will need to spend tens, possibly hundreds of thousands a month in healthcare.

Weary_Ad7119 t1_j9xsuxo wrote on February 25, 2023 at 9:37 AM

https://hrs.isr.umich.edu/about

$5800/yr is the median. Sorry, you're an edge case.

Pink_Slyvie t1_j9yrthi wrote on February 25, 2023 at 3:43 PM

Ok, so yes. But thats because most can't afford "good" care, and end up in the cheapest place with a bed and a roommate.

SneedyK t1_j9y2xms wrote on February 25, 2023 at 11:59 AM

You’re hitting upon a problem that’s going to explode the infrastructure of living facilities and home health care as older Americans continue to live longer. I have an online pal who studies gerontology and she says about 80% of the cost of healthcare ends up going to end-of-life care.

hedgehogging_the_bed t1_j9yqk07 wrote on February 25, 2023 at 3:34 PM

My mother worked in ICU care. She told me roughly 85% of the money spent on your healthcare in your lifetime will be in your last month of life.