Gen X Finally Tops Boomer 401(k) Balances, But Will It Be Enough To Retire?

[MarathonMike]

Having "enough" to retire basically and usually comes down to one thing: Will you and your spouse end up in a nursing home? If you do, most people run short. If you don't, and have a reasonable amount saved up you will be fine.

My sister is 84 and doing fine, living in a wonderful "independent living" facility, but at 84 she can't live much longer before her nest egg runs dry.

I have a neighbor who was recently widowed. Her husband spent the last 4 years in a full service nursing home with advanced dementia. 8K per month nearly emptied all their savings and he was essentially a vegetable who had to be lifted out of bed and placed in a wheel chair with a mechanical lift. Euthanasia should be an option for patients like him but the nursing home lobby fights that tooth and nail.