If we knew when we’d die and how much care would cost from 80 until death, that would be easy. It’s unknowable and my wife’s family has exceptional longevity in most of her genetics. She could realistically blow out a Roman numeral C candle on a cake. Or she could die at 75… One set of my grandparents passed quickly in their 60s; the other in their 90s (with over a decade of independent then assisted living then years of memory care)…
Yes but you have to choose a philosophy either way. I'm saying the philosophy of "we want to leave our kids money" should be run by those actually kids before it is pursued. In my experience most adult children don't want their parents to focus on leaving them anything.
The chosen philosophy is “we don’t want to run out of money before we run out of heartbeats”.
Having money left over is a by-product of that, not a primary goal. If the kids don’t want the money in the end, they’ll figure out some way to dispose of it I’m sure.
This seemed contradictory to your original comment. But I went back and read it and I guess it isn't quite so much as I thought. But a seven-figure cushion seems pretty unnecessary to me. That's a lot of wiggle room! But :shrug:, you do you.
