Originally Posted by
BlackPeter
And actually - nobody needs $4m (as Snoopy proposes) to just "improve" their age care and only a limited number of people will need age care for a long time anyway.
If I look at my family - all of my grandparents as well as my mother used to live independently up to the last handful of months (which were spent in hospital or care home). Overall care payments have not been material for any of them. My father (age 88) is since 3 years in a (very good, small and private) care home (not in NZ, but in Germany). This is one out of six who did require a care home. His contribution (on top of any state / insurance / social welfare payments) is roughly NZ$5000 per month. Not cheap, but balances $4m per person (even if they would not have any return) would bring him through the next 67 years. Even a less than 2% return would fund his care for ever.
This number ($4m per person required) is absolutely non-sensical