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Yes, yes, yes, it pays to save for retirement.

My parents did not have a lot of money. My dad tried to save. My mother spent. By the time they hit retirement, they owned a not-pricey home and nothing else. My dad continued working until he was almost 80, but even 20 years ago prices were going up, and they could not keep up with expenses. My late husband and I spent thousands a year on extras for them. When my mom's medical expenses grew too pricey for anyone, they had to sell their home and go on Medicaid.

My dad hated not paying for himself until the day he died. My mom still didn't care - and at 88, still doesn't. She just "wants" what she wants when she wants it. Being on Medicaid has limited how much anyone can "donate" so I've saved a few hundred a year, but there still are expenses even if, now that I'm physically handicapped myself her extra needs come from my savings.

I will NOT do this to my children. My own savings are not so great as I wish, but I've covered myself with long-term health insurance and other savings to make sure I don't get dumped into a semi-private room should I become as severely needful as my mother. She hates "sharing" a room, and I would, too, but who can afford from $6000 a month up without insurance to cover the span between Social Security and the actual cost?

At one time her nursing home had a reduced rate for covering the extra so she could have a private room. I gladly paid it. Now, they want all rooms earning double the fee of the single so I would have to come up with a bit over $3000 a month instead of under $500. I just can't do it for her...and without the long-term insurance I'd not be able to last more than a year or so should I need the same care for myself.

The above is the worst case of what happens when you don't save for retirement. Hopefully, quite a few retirement years for most of us will be healthy and not needful of actual care facilities. I'm not sure about anyone else's Social Security, but mine isn't enough to gap the difference between what I get and what I once earned. In fact, I don't think that's possible. So there is less money to begin with each month and, even without work clothing and transportation, the gap doesn't close enough to live the same lifestyle one once did. It certainly does not include money for extras like the travel most of us would like to do in retirement. For me, it would mean not being able to give my grandkids the same sort of presents

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