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Eldercare
Reply to "I didn't fully comprehend the cost of eldercare"
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[quote=Anonymous]Here are some more numbers. My mother broke her hip and already had severe dementia. The hip made 24/7 care essential. They tried independent living with help and that lasted about three months--there was no one qualified to do the care, honestly, at any price. They moved to a "nice" assisted living in Montgomery County. We realized after the fact that "nice" on the surface means: owned by private equity, the actual care is terrible. Anyway, the cost for a two-bedroom apartment with 24/7 care (my dad lived in the other room) was $18,000 per month. That works out to about $216,000 per year. In the end she lived about three years, so my dad was drained about $600K. That was basically funded by the sale of their home. He now lives in assisted living in upstate NY, at a non-profit. It costs about $8,000 per month, which, between his pension and SS, isn't a killer. In any event, it's brutally expensive and not pleasant.[/quote]
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