Depends on the context. A million bucks to someone who has nothing probably seems like a lot, but to someone who is retiring at 62 and is healthy, it's bare minimum, in my opinion. People are living to greater age - my father lived 'till his mid 80's, and my mom is still alive, so to a couple with no income and 25-35 years of life left on the clock, $28,500 to $40,000 a year ...
No, that's not a lot. Especially considering possible health concerns. All the health care restructuring in the world isn't going to address long-term assisted care costs.http://www.aarp.org/families/caregiv...care_cost.html
The average U. S. costs are:
* $5,566 a month for a semi-private room in a nursing home
* $6,266 a month for a private room in a nursing home
* $2,968 a month for care in an assisted living unit
* $19 per hour for a home health aide
Originally Posted by tonton
Personally I think that's the problem with most conservatives. They're simply out of touch with reality in terms of the economic situation of the average American.
I think there's a problem all right - people are frigging clueless about how to ensure their own security and when the shit hits the fan they want the government to step in and save them 'cause they're fools.
My plan is to have at least $2M for retirement, and I'm not planning to retire 'till 65. I expect VERY high inflation before all this is done.