I’m fine I just don’t know how folks not prepared or the ones poorly prepared get by I’m lucky to have my retirement, SS and no debt. My supplant just went up $80 a month it’s been going up every year usually by half of that so $80 a month was a shock. Now I’m at an age where shopping around is not an option because of my age so they have you over a barrel pay it or lose it when you might need it the most. No increases coming in SS or from my retirement that will keep up with this kind of BS.

Just an FYI to you younger folks to be over prepared nobody looks after you like you do so be ready for anything as business is just business out there the folks that sell the policies don’t really care about your future if the did theres nothing they can do about it.

Inflation is a silent killer.

What's a supplant?...Are you referring to a medicare supplement?

Yes it started out at $140 now it’s around $350 Joy joy.

Ive worked scared most of my life so I wouldn't have to greet people at Walmart....

My Supplement went up less then half of yours and the increase in SS it was a wash. The seniors that I know that may have financial issues just spend more than they have.

Most are that I know are just poor managers of their life in the first place. I know that isn't something most want to hear but it is my observation of the ones I know.

I tell younger people ya can’t have enough equity.

This is spot on and it doesnt just apply to seniors....

Mine remained level for about four years, then a small bump every two years. Got a bigger bump this year. Fortunately it is part of my retirement package but I know there will come a day when I will have to put some of my money with theirs to pay premiums.

My biggest shock is the substantial increases to our long term care policies. At 78, I may need it soon so I have to pay the premiums or move to the poor house when I need 24 hour care.

Your right poor money managers and poor living habits sometimes go hand in hand but if when it all falls apart others pay the bills to keep things afloat. Seen a guy working in a KFC in MO a few years ago looked to be in his 80s puttering behind the counter I admired his grit but his lack of preparation was unsettling.

Do you suppose the 80 year old behind the KFC counter is there because he WANTS to be not because he has to be?

Maybe he likes working, getting out, interacting with people. Gives him a purpose in life. Maybe only works a few hours a day. Might beat the heck of sitting around in a rocking chair all day watching the crapola on TV.

NOTE - I’m not making light of the financial situation of many of our senior citizens. It is a serious problem. Just saying there are alternative scenarios.

He’s working but how much more then that can he do but rest up for the next shift if he’s happy God bless him just not my idea of the good life. I really doubt with him being that crippled up it’s a choice but who knows.

I think it is because they are better employees than younger people. I work with a whole geriatric crew, because many young people are close to worthless. We may be slow, but we know what needs to be done, show up, and do it.

Lincoln Barber was still trapping ADC beavers into his late 80"s. One day someone at the coffee shop said "Lincoln, they are going to find you face down in the swamp one day", he replied "wouldn't that be a shame to miss all those years of having my diaper changed in the nursing home"

Some assisted living homes are $600 a day, there's no way to prepare for a year or two of that.

Pay the insurance is the only way that my in-laws could do it but don’t miss a payment they would love that.

Those must be palaces? Assisted living should be in the $4,000 to $8,000 a month range. The preparation is save some money that earns money in your retirement years. It helps to have a POA that manages this well for you when you become brain dead.

Maybe the $600 is just when your toward the very end? My mom's friend just needed to go in and that was the cost.

If it is temporary, and in for medical care after a hospital stay they get the high daily rates because Medicare covers most of it.

One of the few things Wa state has right is making all medical insures do a community rated plan. I pay 215.00 a month for a medical g plan and a 90 year old would pay the same amount.

It seems the best plan is never work your whole life and Medicaid picks up the tab.

I write a check to the nursing home for $9,270 each month for my mother who is in memory care, 100% unable to do any activities of daily living on her own. She can't speak, walk or feed herself. I find it hard to fathom paying more for assisted living? For the record, my dad had been paying her way for 9 years now and now I pay it, as the POA. My dad didn't want to spring for nursing home insurance, but he still had $2.5 million when he passed away last fall, so I think he made the right decision to save/invest versus spending the money for insurance. Even at a 4% rate of return, the money will outlast my mom by a long shot. Dad never made over $20/hour in his life and Mom only worked part-time after us kids were old enough to take care of ourselves. I sure miss my dad, he taught me a lot about how to look poor without being poor.

My dad is 76. I'd wager he works 1200 hours a year running heavy equipment. Doesn't do it because he needs the money, just doesn't know any different lol.

When I retire, I shouldn't have to worry about a thing, I'll still work somewhere until I'm unable.

This is what I was getting at with how many folks are in no way prepared for what you’re dealing with now. I’m glad your dad had a doable plan I wonder how many can’t take care of themselves honestly was the point. Face down in the woods is my dream out like a lightbulb. LOL

Nobody cares about the older generation anymore. Its tragic, and I hate it and don't understand it.
I personally think the Gov tried to kill all of them via Covid and the vaccine so they wouldn't have to pay back what that generation paid in. They did a pretty dang good job doing it to. Really ticks me off.

Yes in 2023 US citizens over 65 accounted for 22% of all the spending in the US. That is not the same as GDP but in a consumer market us old folks contribute a lot and we are growing every year. Due to the fact that spending by older citizens can be retracted more than any other age group, it may bode well for our overall economy that we are not thought of as a big drain on our economy as many seem to think.

Bryce

mine when up to 480, a month because of health problems, but I can plan for this, but not a big hospital bills I can't. threw out this last year I never got a bill, insurance cover it all so far

ABSOLUTELY!

That's a huge jump in premium. You need to shop around. I had Blue Cross until they nearly double my premium. I shopped around with a number of companies and went with Humana until the clinic I was with discontinued recognizing Humana. Then I went with UCare. I got better coverage at a cost of half of what I was paying with Blue Cross.

I like the sentiment, but the reality is that Donnersurvivor is pretty close to on the mark. In Colorado the state average for assisted living is a tad over $6,000 a month. Alaska's average cost is $7250. Look up this "Assisted living cost average by state-chart". Remember to, that average may be more or LESS that you want to live like. Assisted living here in Steamboat Springs at "Casey's Pond" STARTS at $8575 a month, and I don't want to be old with a bunch of these people in Colorado! Even if I can afford it. I looked at "Baxter Senior living" in Anchorage and it's 13K a month, but it's a nice place, above average. So, going out face down in a beaver pond looks good to my heirs, me too!

The cost of living in assisted living is too high,..it's that simple.

$600 multiplied by 30 days equals $18,000 a month. This may be why seniors need a good POA? Many seniors can't do simple math.

Many seniors feel it's not worth it,..the throw in the towel comes to mind.

assisted living here is between 3000-12,000

bad karma, I think ol' Lincoln had it figured out. It is crazy how we treat our older folks ( and veterans ).

The indians took care of their elders.

Great Answer

"Q: How Long Do People Stay in Assisted Living?
A: How long someone is going to stay in assisted living is going to be different depending on the situation. The median length of stay is about 22 months. From assisted living, more than half of people will need to move on to a situation with full spectrum care, such as a nursing facility."


"65% of people who entered a nursing home passed away within one year of admission."

Most won't be there long.

"Alzheimer’s is the most common cause of death in a nursing home"

Mom's a long timer with over a 2 year tour so far. (Assisted Living)

My mother in law just went in, she's 96. About 11 Gs a month, that's some serious money.