[lapcat]

> That doesn’t address the tail risk concern

Medicaid covers the cost of nursing homes, and it's not necessarily an advantage to have money saved just for that, because they'll just take the money anyway. Some people try to give away their assets to their families beforehand so that Medicaid will cover the costs, which is a legal no-no.

> Just because it’s possible

This is an understatement, when the subject is how 99% of the people live.

Of course it can be great to be in the top 1%, but it's not "unreasonable" to be outside the top 1%.

[arielweisberg]

My mother ran a senior family home for 15 year. Private business founded by her.

I do not want to end up in a Medicaid paid for nursing home or family home.

Even the stories of her residents coming from other expensive family homes were horrifying.

Elder care is horrifying.

People die in pain all the time from neglect and incompetence. People who came to her were regularly on their way to a painful death and she brought them back by just not being an idiot and putting in some effort.

Broken bones and many other conditions went undiagnosed or improperly diagnosed/treated. Doctors prescribing medication after medication to deal with the side effects of the medications they already prescribed that weren’t needed in the first place. Dosages all over the map that are inappropriate for someone in the given age and condition.

You better hope you keep your brain to manage your own medical care or have someone who can do it for you.

[lapcat]

> Even the stories of her residents coming from other expensive family homes were horrifying.

You just made my point for me. The money you've saved won't actually "reduce tail risk".

To the contrary, your best strategy for that is to focus on your family rather than on your job, to ensure that there's someone on the tail end who cares enough about you to take care of you if you can no longer take care of yourself.