| Two nit-picks: 1 - It's likely going to cost more than 100k per year per kid to send them off to college in ~18 years, even to a very cheap state school. The financial picture gets really complex, so talk to an advisor and not some random internet commenter. That said, our own financial advisor has us planning for ~1M total per kid for college, but we're very much on the high end here. 2 - I've helped a lot of family members pass away in the last few years. It's been abnormally high, but the world has been abnormal too. I've helped somewhat poor family and very very wealthy family pass. The one thing I've learned is that the last few years/months are not something you can save for. Not that you can't have so much cash as to not pass it along. But that the swanky retirement home is not very swanky at the end of the day. One family member was in a memory care place that was costing ~20k / mo. Yes, really. They had very good pensions. But the thing is that the retirement/hospice is still just a job to the people there. They aren't getting out of bed at 3am to change you, to pick you up, to bathe you. They put you in an ambulance in lieu of putting you back in a chair, because of lawsuits. They are doing the bare minimum that they have to. Trying to plan for your retirement care via lawyer is just never going to cover all the bases and little things that come up. The only people that are going to be taking care of you when the end is near (and that can be for years of time), are the people that love you. Sure, your kids may hate you, but that's mostly on you. But people that do not love you are not going to take very good care of you at all. That doesn't mean kids for sure, it can be other people. But you've got to have people that love you close by you near the end. |