TrophyWife
Recycles dryer sheets
- Joined
- Feb 23, 2016
- Messages
- 158
I've become more aware of this lately because my mother-in-law and her husband did not prepare well for retirement. They spent almost everything and "retired" early by taking early SS and getting a reverse mortgage. He has passed now and she is living off social security but she will not have more than 6 months in a nursing facility until her savings runs out, when she faces a health crisis. At 74 this is in her future.
So then what happens? If her health is bad, she spends down everything and gets partial Medicaid. But if she recovers enough to go home but not enough to pay for help to take care of her? Then we have a huge moral dilemma. Pay for her care at the risk of our retirement?
So then I'm looking at this for my husband and I. We are both 52. Let's say he gets really sick or injured, goes into a facility and lives many more years draining all our money. Then I would have nothing to live off of aside from a survivor pension. Am I missing something?
How are you anticipating handling a situation like this? Would you divorce a spouse in this situation? We have term life insurance but the term will end in the next ten years.
So then what happens? If her health is bad, she spends down everything and gets partial Medicaid. But if she recovers enough to go home but not enough to pay for help to take care of her? Then we have a huge moral dilemma. Pay for her care at the risk of our retirement?
So then I'm looking at this for my husband and I. We are both 52. Let's say he gets really sick or injured, goes into a facility and lives many more years draining all our money. Then I would have nothing to live off of aside from a survivor pension. Am I missing something?
How are you anticipating handling a situation like this? Would you divorce a spouse in this situation? We have term life insurance but the term will end in the next ten years.