How people pay for good old homes if they need it for long term

[Anonymous]

How do you plan to do it for yourself or your parents?

[Anonymous]

They are exorbitantly expensive, where private equity firms make all the money and hard-working women make peanuts to do all the care. I plan on dying first.

[Anonymous]

Anonymous wrote:They are exorbitantly expensive, where private equity firms make all the money and hard-working women make peanuts to do all the care. I plan on dying first.

Dying early makes great sense but euthanasia is illegal in most states.

[Anonymous]

Well when we in Canada are the 51st state you can come up here. We can choose medical aid in dying for Alzheimers as long as you are in the competent stage. I take the SAGE test from the University of Ohio and when I slip I am going out as a full human being. I think it is wrong to expect low status women to act as skivvys in care homes and my assets will go to a younger person and not the elder care industry.

[Anonymous]

Anonymous wrote:

Anonymous wrote:They are exorbitantly expensive, where private equity firms make all the money and hard-working women make peanuts to do all the care. I plan on dying first.

Dying early makes great sense but euthanasia is illegal in most states.

Those with money will go overseas.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:They are exorbitantly expensive, where private equity firms make all the money and hard-working women make peanuts to do all the care. I plan on dying first.

Dying early makes great sense but euthanasia is illegal in most states.

Those with money will go overseas.

Those with money can also pay for quality old home so that's not even their problem. They have options.

[Anonymous]

Let’s be blunt. It does cost a fortune. My mom paid for her own by:
1. Going back to work when we were pre teens
And getting an old fashioned pension.
2. Selling her house. Common step.
3. Living below her means, being thrifty despite sending kids to top private colleges and going to Europe often.

A few years back in a high cost of living city this ran $11, 000 a month. When she later needed full-time care in addition that was another $12, 000 a month.

I am sure there are other options that can cost less elsewhere. And good thing we were not hoping for an inheritance.

[Anonymous]

Anonymous wrote:Let’s be blunt. It does cost a fortune. My mom paid for her own by:
1. Going back to work when we were pre teens
And getting an old fashioned pension.
2. Selling her house. Common step.
3. Living below her means, being thrifty despite sending kids to top private colleges and going to Europe often.

A few years back in a high cost of living city this ran $11, 000 a month. When she later needed full-time care in addition that was another $12, 000 a month.

I am sure there are other options that can cost less elsewhere. And good thing we were not hoping for an inheritance.

Most folks are not fortunate to get pensions, so that is not an option in planning for LTC.

[Anonymous]

Only the very wealthy can afford the quality assisted living/skilled nursing homes. The rest of the population will have 1) family care for them until the die 2) die in a medicaid facility 3) die before it is an issue

[Anonymous]

Anonymous wrote:

Anonymous wrote:Let’s be blunt. It does cost a fortune. My mom paid for her own by:
1. Going back to work when we were pre teens
And getting an old fashioned pension.
2. Selling her house. Common step.
3. Living below her means, being thrifty despite sending kids to top private colleges and going to Europe often.

A few years back in a high cost of living city this ran $11, 000 a month. When she later needed full-time care in addition that was another $12, 000 a month.

I am sure there are other options that can cost less elsewhere. And good thing we were not hoping for an inheritance.

Most folks are not fortunate to get pensions, so that is not an option in planning for LTC.

It's not necessarily about being "fortunate" to get a pension--many careers that give a pension involve risk and sacrifice.
Most folks could be "fortunate" enough to risk their lives in the military or law enforcement, etc. but weren't willing to do that.

[Anonymous]

Old homes? Very strange wording.

[Anonymous]

Anonymous wrote:

Anonymous wrote:They are exorbitantly expensive, where private equity firms make all the money and hard-working women make peanuts to do all the care. I plan on dying first.

Dying early makes great sense but euthanasia is illegal in most states.

sue me?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Let’s be blunt. It does cost a fortune. My mom paid for her own by:
1. Going back to work when we were pre teens
And getting an old fashioned pension.
2. Selling her house. Common step.
3. Living below her means, being thrifty despite sending kids to top private colleges and going to Europe often.

A few years back in a high cost of living city this ran $11, 000 a month. When she later needed full-time care in addition that was another $12, 000 a month.

I am sure there are other options that can cost less elsewhere. And good thing we were not hoping for an inheritance.

Most folks are not fortunate to get pensions, so that is not an option in planning for LTC.

It's not necessarily about being "fortunate" to get a pension--many careers that give a pension involve risk and sacrifice.
Most folks could be "fortunate" enough to risk their lives in the military or law enforcement, etc. but weren't willing to do that.

Logging, fishing, and some agricultural roles have higher fatality risks. Police are not the bravest.

[Anonymous]

Anonymous wrote:Old homes? Very strange wording.

It took me a second, but I am assuming they mean old folks homes, current lingo being assisted living, memory care and skilled nursing.

None of it is cheap. We are hoping to set up at-home care in our downsized home. We have LTC insurance that allows for at-home care and reasonably significant assets. But eventually, who manages it if your kids won't/can't manage it for you?