Elder Care Costs

I can't find the old post about this and wanted to let people know the AARP Bulletin says the actual cost of a nursing home averages $74,000 a year. Professional care averages $35,000 a year. Medicare does NOT cover most long-term health care costs, but people think it does.

We aren't aware enough of future costs for older Americans. With the value of the dollar declining because of rising health care costs, many of us will be unable to afford health care. What will happen to us?

I worry about that too. Where I live the gov't subsidizes the elderly. My parents are being assessed now and do qualify. But will those funds be there when I retire.
I am now 50 and borrowed alot of money last year towards RRSP's. I figure I have 15 years left to work and pay off that loan. I have it in a high interest stock hoping to make more money than my initial investment. I think it's up to us to save for our future. Wish I had of done this years ago.
Kate

katebcca and Anne, targeting the future now helps us. I'm 60 and manage to live off what I earn, which isn't much but I can let my savings earn interest. I manage my income (take lunch to work, get books and movies from the library) so if I want to go out with a friend or get special things once in a while I can.

I don't own a home and my rent keeps increasing. Taxes and homeowner's insurance increase at the same rate so I don't feel terrible about it, although owning my little cottage dream home is still a goal. I wonder how high my rent can go and where I will go when it becomes too high.

When my father got sick, I went crazy worrying how I would take care of him and keep him in a nursing home because there was no house to sell to pay expenses since he lived in an apartment. He passed quickly, but I would rather have had him with me.

Saudra,
There is a web site called www.elderlawanswers.com
and sometimes they post of cost of nursing home and eldercare cost . I get there newsletter . There are other sites also . I just don't want to fill up this thread with them .

Blessings,

Anne,
Well, Anne I have a good answer for you to tell him . You can tell him that you thought about him for a long time and decide it was time to get together and maybe you were scared also. Just be truthful with him . Sometimes these things and a relationship and renewing it needs some time to think. You turned him down because maybe you were scared also. Correct ! Just say what is in your heart and it will guide you all the way . You can ask him how his mother is and so on .

I hope this helps some .

Blessings,
Renee

Anne, I think que cards are a great idea. Tell him that not knowing is a great place to be because from there you get to know. And now you know.

Personally, I think we should all go in together and stop worrying over where we are gonna be. Let's build a house on some acreage and make it big enough to house all the boomers who need it. Then we don't have to worry over a nursing home.

Oh, yes, I can just see us snorting and laughing in our wheelchairs as JJ directs a youngster to clean the moat! It will have a moat, won't it JJ?

Darn tootin'.... that's how we'll keep out all of the salepeople going door-to-castle...I figure if they can swim through the alligators and make it, they deserve an audience with us, am I right?

Great idea JJ. Isn't that what they did in the 60's? A commune- a community organized on a communal basis. Who's feeding the chickens? We need a garden.

Kathy, you're funny (snorting and laughing in our wheelchairs).

This has become a recent concern for me as well. My dad was diagnosed with Alzheimer's almost a year ago, so I was aware that the day would be coming. Then he had a brain injury almost two months ago. He's been in a brain injury rehab, and now he's ready to be discharged to a skilled nursing facility. His Medicare and supplement authorized 100 days in a facility. It buys my sister and me time to figure out what to do next. He will need full time professional care, and we have no clue as to what to do about it. We don't want to have to sell his house. I'm not asking for answers here. Just wanted to vent a little. Thanks.