Thank you for the insightful discussion. I have a similar concern in my family because of a 'trophy' spouse gap. My reference is an IRS term for a marriage where there is a 10+ year gap. One concern I have is that one spouse would significantly impact the portfolio if Long Term care costs become an issue. Neither spouse would want to bankrupt the other...even a healthy nest egg of $2m+ may not be enough.
I did not see discussion of Life Insurance with a LTC rider where you can tap the death benefit for LTC expenses. Has anyone done the math on this question to determine at what size nest egg one would need where LTC expenses would not impact a portfolio that needed to last 10+ years longer because of the age gap? At some size of nest egg (Elon Musk, Jeff Bezos) the cost can be covered without impacting care for the younger spouse. But what is that general size?
Thank you for the insightful discussion. I have a similar concern in my family because of a 'trophy' spouse gap. My reference is an IRS term for a marriage where there is a 10+ year gap. One concern I have is that one spouse would significantly impact the portfolio if Long Term care costs become an issue. Neither spouse would want to bankrupt the other...even a healthy nest egg of $2m+ may not be enough.
I did not see discussion of Life Insurance with a LTC rider where you can tap the death benefit for LTC expenses. Has anyone done the math on this question to determine at what size nest egg one would need where LTC expenses would not impact a portfolio that needed to last 10+ years longer because of the age gap? At some size of nest egg (Elon Musk, Jeff Bezos) the cost can be covered without impacting care for the younger spouse. But what is that general size?