thank you Greg....I am definitely on the fence about this. I do like the feedback....bob
A thought Bob-
You do a RM, you both are in your late 80’s and need nursing home/hospice care for 3 years, that cost will hypothetically run you $300k. If you had a house without an RM that would be the time to tap that equity. If you have an RM you may be screwed.
I truly fail to see where an RM makes sense for 98% of people, and you don’t seem like the 2%. Maybe you just need to adjust your budget to handle a safe withdrawal rate from your nest egg? Just my 2 cents.
Actually, no. The hypothetical couple with the paid off house would exhaust their other financial resources and then quality for Medicaid, which would pick up their medical and nursing costs. The couple with the RM would do the same. They’d get the care either way.
