Protect Your Retirement from Future Stupidity

[Chuckanut]

Nobody in my family has had Alzheimer's, thank heavens, so my genes are good. But then one never knows. For planning purposes I am assuming that at some time in my 80's (should I live that long), I will no longer be able to carefully manage my investments.

Same with me. Just keep that blood sugar under control:

Above-normal blood sugar linked to dementia - Harvard Health Blog - Harvard Health Publications

 

[MRG]

I think it depends. With DM, it was very apparent. Her memory just went over time. At the end she just looped, telling you the same 15 things she remembered. She always knew her kids, somehow she became sweeter and more loving, the sicker she got.

DF hid his condition for at least 5 years. He tried so hard to be normal. Sometimes we would think that's odd, but he's 90 something, maybe it's OK. His last year he couldn't hide it anymore. I still remember the tearful phone call when he admitted how sick he had been. Poor guy was so afraid of being put in a nursing home. He managed to remain in assisted living, until Hospice.
MRG

 

[braumeister]

My plan is to shift control over to the kids (with substantial written directives) if I see things going south. But....

Please don't leave it as just a plan. Do it now (write those substantial instructions, I mean). And make sure they know how to find it.

I keep an encrypted file prominently on the desktop of my computer (DW knows the password) named "Open on my death" that contains a wealth of information that would be immediately useful at that time. I update it at least twice a year.

 

[Hermit]

Have a close friend who has been diagnosed with dementia. He is in his mid 60s. He has been prescribed some medicine. I don't know what it is, but it is supposed to be quite effective in arresting the dementia and in some cases the patient actually improves. There is some hope and a very good reason to get loved ones in to see a doctor about the issue.

 

[youbet]

This article does address my concerns. I don't need an annuity but I worry about becoming befuddled and doing stupid things. It doesn't run in my family so I may dodge that bullet but if I don't will I ever realize it hit me? My plan is to shift control over to the kids (with substantial written directives) if I see things going south. But....

If the kids are too busy or whatever, I'd be glad to help out. I'll just need full POA and your mind to be mushy enough to no longer have a clue what's going on.

 

[Chuckanut]

My plan when I get near the age of incompetence is to put it all in PSSSSSST....Wellesly, and collect a monthly check.

The more I think about it, I will be deferring SS to 70 and I have a reasonably well funded pension (No Illinois nonsense here). And the total stock market pays about a 1.6% dividend after expenses. So..... I could just keep it all in stocks, add the dividend payout to my SS and pension and be a happy if somewhat demented camper.