Reply to I didn't fully comprehend the cost of eldercare

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[quote=Anonymous][quote=Anonymous]May I also share real numbers? My mom passed away at 96, 7 years ago, in NYC, for context, so high cost of living area and some time ago. She started in independent/assisted living in a 1-bedroom apt. And needed to add 7/24 care. At that time, those costs equaled $25,000 a month or $300,000 a year.

A CCRC would have been preferable perhaps. Remaining in a suburban house or apartment was not what she wanted to do once she no longer could drive. Although uber could have helped.[/quote]

CCRC when still healthy is the best approach and moving to a more affordable area if needed.

My parents moved in mid70s to a CCRC.  We had to pay the entry fee for them to be eligible.  Sure, we might be overpaying, but we know they will never pay exhorbinant monthly fees in the future.  Costs remain the same no matter if 1 or both are in advanced care or both in Ind Living.  Only added costs will be the 2 extra meals per day per person.  Right now they pay $7K/month for a 2 bed/2 bath Ind living.  Whereas nursing care is $14K/month.  If they ever need that (even for one of them) they still pay $7K.  That's what the entry fee is covering.

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