If you assume the cost of assisted living for two people (assume worst case memory care) is approximately $11,000 per month today. What do you think is a best guess (i.e. inflation rate of service) for the cost 20 years from now?
I'm thinking a reasonable approach to determine "excess funds" to be spent enjoying life is any $ amounts above the amount needed to safely fund that future expense.
Hope this makes sense...
I'm thinking a reasonable approach to determine "excess funds" to be spent enjoying life is any $ amounts above the amount needed to safely fund that future expense.
Hope this makes sense...