So my mom has the official diagnosis of Alzheimer’s and we are thinking/planning ahead. Her sister died of the disease, so we see the path this will take. Her sister died with no money and ended up in a state facility which was horrible.
We have a friend who’s mom is in a lovely assisted living facility and they pay $4300/month! And that’s with her not needing full nursing care yet.
How in in the world do people afford this? My mom has teacher retirement and that’s it.
Help!
My loved one was moved to be nearer a family member who lived way out. Kind of like when a person wants to buy a home, but where they want to live is way too expensive. So they buy in a newer, less developed area, with new homes at half the price.
So there was a room for $1500, and a whole apartment in AL for $2800.
Nice, it is just as nice as the $5k.
thank you!
My parents were extremely fugal, lived below their means, and did this on one income. Of course, back then TV was free, no $200/month fee like today.... a new refrigerator cost $200 and lasted 30 years, not $2000 and lasting only a few years.... washer/dryer cost $300 and Mom had her set for 45 years. They had one vehicle, and Mom took the bus or walked to the stores. And my Mom was able to make clothes, towels, bedding, etc. last for many decades. And oh, we have savings accounts that could get 8% to 12% interest. So my folks saved big time for that rainy day. So much has changed, it isn't easy for people today to save like they did.
After the sticker shock, I am holding hostage my 401(k) and the equity in my house for my old age.
That is quite expensive! It's sad that elder care is so costly.
And, actually - you’ll find $4,300 is on the low end when it comes to AL. Plus - every little thing is offered ala’carte for a nifty price.
Ive always said assisted living isn’t all that assisted. Unless you can afford to pay. And pay. And pay.