This is stupid. The rule is you need to live off 3% of your retirement savings. 3M in investments would mean you would live off of $90000 a year. If you need 90k a year to live off of, after paying off a house and not needed to go to work 8 hours a day, you are living insanely beyond what most would need.
For reference, i'm living in the suburbs with a mortgage, and my yearly expenses are ~40k. After mortgage it will be like ~20k.
This is stupid. The rule is you need to live off 3% of your retirement savings. 3M in investments would mean you would live off of $90000 a year. If you need 90k a year to live off of, after paying off a house and not needed to go to work 8 hours a day, you are living insanely beyond what most would need.
For reference, i'm living in the suburbs with a mortgage, and my yearly expenses are ~40k. After mortgage it will be like ~20k.
Even the cheapest nursing homes are gonna be absurdly expensive.
https://khn.org/news/article/private-equity-ownership-of-nursing-homes-triggers-federal-probe/