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.