Retired at 58/57
now at 72/71, and thought we had this retirement thing figured out. Then some of my neighbors had to start dealing with Alzheimer's. Turns out that without the right insurance, you can use up all your income and some of your assets in a short time. We want to use our assets for inheritance, income for current expenses.
I am retired Navy Reserve, with Agent Orange "Parkinson's bonus", getting 100% disability, plus SS plus 2 small pensions from civilian employers. Wife gets SS plus a teacher retirement. Works out to about $145K with 1/3 of it tax free. That should be enough for both of us going to assisted living without dipping into the assets totaling about $1M.
None of our pensions are protected. When one of us dies, all of that income stops.
Not looking at stiffing the government, just trying to avoid unpleasant surprises.
What forum, here or other sites, should we be following?