My mother pretty much live off her social security and was able to pay for long term care insurance that she never used. She did have a paid off house.

Retiring in the city or any high cost of living place is probably out of the question for anyone but the rich.

Fleeing the city when you are laid-off or otherwise without an income is something to consider.

I don’t think we need to change the system. We have social security and Medicare. We have IRA’s and 401k’s. You can also always work until you are disabled, then you can collect a disability or take to your bed in a nursing home. I guess we could add UBI. What is it you think needs to be changed?

TEK