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One thing suggested to me a long time ago was to buy into a long-term care health insurance policy when you are young. The current estimates are that the average person will need $200k in such a policy to cover things not covered under Medicare or health care insurance. Like any other insurance, it is considerably less expensive to buy the policy long before it is needed.
A financial planner would ask you to define 3 types of retirement, where one is the little house in a low cost of living state, another is traveling the world, and the third is a mix. The numbers that the planner comes up with would be for each of the 3 scenarios.
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If ignorance is bliss then why are the ignorant so angry? - Shannon Wheeler
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