@zachmelloh26 And to not burn out and have to force and early retirement. Could extend their working years which obv helps financially but moreso physically / mentally.
This year alone I’ve seen two clients spending $20k+ a month due to long term care needs.
These costs keep rising and cannot be underestimated.
In my opinion, you don't have a financial plan, if you don't have a plan for these costs.
@FPasselli94 Depends when you want to retire and how much you want to spend..
See plenty of clients retire with $1mm and live great lives. Others, by their own admission, not so much.
If you're a young person, your only chance to escape this death spiral is to do everything you can to save money to either buy or create assets so you too can benefit from rising prices.
Assets inflate just like everything else. If you've held assets in the past decade, you've made out very well..
You know who hasn't held assets?
Young people..
Older people may look at this and think, this is overblown, things can't really be this bad.
That's because they've been the ultimate beneficiaries of the endless money printing.