I'd love to know if anyone has thoughts, especially real-life examples, of dealing with the potential elevated costs of old age under various assumptions, especially in the US where the social safety net is not terribly robust.
Here's where the question comes from: My #1 goal is not to be a financial burden on my children as I age. I want them to be able to be building their own nest egg, not spending on my (or my wife's) needs. I certainly understand the math behind the 4% withdrawal rate rule, but what about the extremely elevated costs that often come in the last years of life? I'm thinking home health care aides, prescription drug costs, nursing home expenses, and other costs that can rapidly escalate. How do these fit in a Mustachian view of retirement?