I sometimes leave merged branches around for quite a while, because I squash them when I merge to master and sometimes when tracking down a bug the ability to bisect very handy.
We also keep merged branches around. This has never happened, but if we needed to bisect at the merged-branch level, we could do that.
I know squash-merge isn't everyone's cup of tea, but I find it to be simpler and clearer for the 99+% case, and only slightly less convenient for the remainder.