Ha-ha planning ahead I shouldn't start this post so late in the evening. Oh well.
So I'm well on the way to FI myself but there's a nagging problem in the background. My parents, though well-off and healthy, do not have long-term care insurance. My younger brother is not well off or healthy, and is not fully competent. My parents have set up a managed trust for him, but, if all their money is exhausted on caring for themselves, he will become my responsibility after their passing.
How much money should I save to protect my FI from these possibilities?
A little more background...
Though my brother prefers the idea, I really don't want him to live with me. Like no, never, not even between things, just no. I think he might do OK in a group home type of environment, and maybe assisted living later in life. Not that I could probably force him to do that even if I'm holding the purse strings.
I'm so grateful that my parents have set up a trust for my brother's care. I imagine i will have to manage it in some capacity, which might cause even more friction between him and me. All the same, they are so awesome for seeing the reality of his disability and providing for him.
But... My dad, the calculated gambler, has decided that he and my mom are not going to need long term care. If he's wrong, then, no more trust. If he's really wrong, then, after their money is gone, I'll probably be spending on their care too.
If there's any left, well, I could give a fig if my folks leave me any money, as long as my brother is provided for.
I just have no idea how to plan financially for the worst case scenario here. If I wait to RE till I have the safest pile of money, then I never need it- well damn I'd rather have those years of work back. I have no heirs so that's not a reason for me to have a bigger pile of dough. It's only for the worst case scenario.
Any of you looking at this in your life? How are you approaching the unknowns?