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I am a car guy and always have been, but never really splurged. My wife and I are both 62 and do keep our vehicles well maintained and for a "while". We are ready to buy my wife her next vehicle and she is hemming and hawing about the price and the only question I ask her, is ..... "How many...

https://youtu.be/7X5ljirnU7Y Hey Honey, I found a way we can get some more storage in our garage and maybe make a few dollars too!

If it's convenient for you, for snowmobiling .... I bet it would be for a lot of others. Storage racks to put them 2 high? Maybe enough room to store an additional 6-8? Make a little money making enterprise?

"Eventually, our combined SS plus my pension will cover 100% of our expenses, leaving our nest egg for travel, fun and helping our kids." Work out a plan for LTC, not that you have to buy any, just ensure that there will be money available, if needed. When you've "won the game", is there...

https://www.ssa.gov/planners/retire/delayret.html

If you scroll thru this and get to page 11, it might help you decide on what might be best for your situation. Just another tool. It's all a crap shoot, but every year you wait beyond FRA, your SS check goes up by around 8%. I'm not expecting my investment returns to be quite that high ...

Thanks Sunset! Yeah, I already have the Canadian bank account set up! CPP already has my address down here, too, so I'm getting in shape.

Susnset, thanks for asking the question and all the responses .... I'm in the same boat, but 3 years away from starting to collect.

I don't proclaim to be a good investor and hence I stick with simple index funds. But the simple index funds beat, in most cases, managed funds. That may change over the next few years, but I make no plans in changing. Google SPIVA at some point. I can't get it to load right now, for some...

Mine was strictly financial, however there was a "checklist" of other things to they considered important for me to review, or seek others guidance on. Will, power of attorney, life insurance however if I did ask about a college savings plan, they would've given me guidance. Taxes, I was...

Vanguard did a financial plan for me as well, for free. They would also help manage my Vanguard accounts for a small %, as well. I didn't go for that option.

Maybe something in here might help https://jpmorgansmartretirement.com/blobcontent/647/343/1272924627455_JP-GTR.pdf

LOL, time is on none of our sides!!! I view LTC, important, but merely, in most cases "X" number of future payments, so I am planning on that. I am assuming a max number of 48 monthly payments (for wife and I) which would include our SS + RMD and withdrawl from our assets. We may only need a...

Thanks Potstickers! That is exactly what is being done!

Just an added study, I read. https://www.geripal.org/2010/08/length-of-stay-in-nursing-homes-at-end.html The length of stay data were striking: the median length of stay in a nursing home before death was 5 months the average length of stay was longer at 14 months due to a small number of...

Thanks for the advice everyone! Definitely not an easy thing. Some lessons I'm taking to heart.

My FIL would answer all those questions correctly, or at least now he would, however he just wouldn't remember that he went to the bank. Like you, I am glad that some people would "ask" those tough questions on his/her behalf!

Understood. By documents, of the revocable trust signed 10 years ago, with the Elder Law Attorney, my MIL has the power and authority, now, to transfer the assets and that is part of what is going on. His 401k and IRA can't legally be transferred in, but she now has the power to use those...

Understood ... and thanks. He's not quite that bad yet, however the advice from the attorney is being followed and it's primarily to take care of him, when the next step needs to be taken. The next step may never happen or in 6 months we have to make some hard choices. Really, just trying to...

All the "legalities" we'd leave and seek advice from the attorneys. Just wondering if there are other things for us to consider.

Yes the 5 year look back rule would apply ..... but we have to start somewhere. Again, just looking out for MIL. A reasonable chance that neither one of them will be around in 5 years.

And why I am asking questions ...... :) My understanding is that by law, for Medicaid, all of "his" retirement assets are protected for his use and his use only, if needed under these circumstances. So, if he goes into a MC facility and we burn thru all of his retirement assets (401K, IRA)...

Yes, you are correct. The revocable Trust is set up to give powers where need be and at passing, ensures that the estate doesn't have to go through probate. If my FIL goes in to a Memory Care facility, we can use his 401k and IRA to pay for it, which should be adequate. If "at home care" is...

Thanks OldShooter! The revocable Trust was originally set up by an Elder Law Attorney and "the girls" have met with them, once again at Christmas, so I think the "I's" have been dotted and the "T's" have been crossed and that is what has spurred the recent action by them to balance out the...

My in laws are both in their 88th year. My MIL is failing physically, however still pretty sharp mentally. My FIL is good physically, but dementia has started and has gained ground quickly, over the last 4 months. A revocable Trust was set up about 10 years ago, but unfortunately nothing was...