Yeah, I'm way behind in retirement savings, which means I should be putting away way more than I am currently doing. I am going to up it some, but not to the point of pain yet.

We have both had long-term care insurance for quite a while. I call it our retirement insurance.

I know a while back my mom's financial advisor told her not to get long-term care insurance because she had the expectation of an inheritance that she could earmark for that. But I don't know the details or if that was actually good advice.

Yeah, true. I was like "But I won't have to pay rent if I get disabled!....Unless in a couple of years my mom actually needs the money. Huh."

Ugh, I should probably look into that. And long term care maybe--I'm guessing it's cheaper if you're younger when you get it?

As a single/no kids, I'm really not worried about long-term care. Medicaid will cover that shit! (In my experience, you can get in the door of a nice place with one month in cash and then get on Medicaid.)

That's good to know!

I was thinking about long-term care = wandering away from an African safari in the middle of the night with raw steak in my pocket, but then I realized that wouldn't be fair to the animals who would get in trouble for it. All the chemicals in my body wouldn't be good for them, in any case.

Not an expert here, but I did go to the university's workshop on insurance.

Disability insurance is about maintaining your lifestyle if you should become disabled an therefore unable to work. I think that it is particularly important for single people who don't have other sources of income like a spouse or substantial investments.

Long-term care insurance presumes that you are so sick that your current lifestyle is not an option. You WILL get long-term care, whether it is paid by you, or Medicare, or Medicaid, but you will have to run through all of your own money first. So long-term care insurance works to preserve your family's finances by putting the insurance company as first payer instead of your family's accumulated resources. It is crucial for people who are married or have kids.

Thanks Rick!

I think I have disability insurance through work. And the sign-up period was a month ago. At least they automatically adjusted me to paying for a single person instead of two.