What is your "enough" number?

[iris lilies]

I could be corrected if I'm wrong, too, but I think Medicaid is administered by the states and the amounts will vary, although I think they are all in the same general range. Like I mentioned before, when the spouse living at home goes, they can come after the estate to recover Medicaid expenses incurred by the government. I've wondered about trusts and income from trusts. Somehow those are protected, but I can't recall the details. A few things to do a little web research. It's complicated.

Agree that each state administers Medicaid and their policies for recovering nursing home expenses will vary by state.

Some years ago when I was reading up on it I learned that the state of Michigan did not carry out any look back searches. While wasn’t their actual policy on the books, it was their realistic practice. That meant that if I went into a nursing home and I deeded over my paid-for house to my daughter a week before hand, The state of Michigan never checked up on that. I don’t know if that still the case.

It is interesting that California, as Geila says, allows up to $3100 per month of income. I never considered that, I just assumed that my income is my income and DH’s income is his income. I do believe his retirement accounts are shielded from having to pay for my nursing home expenses, but I’m not so sure that his own nursing home expenses wouldn’t have to come out of his IRA.

[SteveinMN]

So you may have to go back to work at some point when you thought you were retired, you may have to sell a house, you may have to regroup and do something different than you thought you would.

I guess it's always kind of in flux, depending on events outside of our control.

Sounds much like the way it was while we were working....

[Teacher Terry]

I looked it up here and it the same as Geilia’s but there are a few caveat so it might be the same in California.

[kib]

My (our) enough number is our annual budget / 3%, +$1M, which would provide an extra $30,000 in "play money" or reinvestment funds, and could be used for long term care if necessary. I feel I can probably count on a post-tax return of 3%, which would make this enough money to live on without ordinarily touching principal. Eventually I suppose I'll draw down principal as well, but I'd prefer to hold off on that as long as possible.

We should be eligible for SS and pensions as well, but I don't count on anyone's promises but my own.

[jp1]

It is interesting that California, as Geila says, allows up to $3100 per month of income. I never considered that, I just assumed that my income is my income and DH’s income is his income. I do believe his retirement accounts are shielded from having to pay for my nursing home expenses, but I’m not so sure that his own nursing home expenses wouldn’t have to come out of his IRA.

If I were to make a guess my guess would be that CA's rules, assuming that Geila is correct (and I have no reason to think she's not) is that CA is a community property state. If that's in fact how the rules she mentions come into play then there may also be wiggle in there depending on which spouse brought what assets into the marriage.

[Tybee]

This is an interesting article about nursing homes and IRA's and how they are handled:

https://www.elderlawanswers.com/can-...gibility-14544