Reply to How much in assets to yield $15,000/month in investment returns?

Forum Index » Money and Finances

Reply to "How much in assets to yield $15,000/month in investment returns?"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous]I need someone good with finances to do a quick calculation for me.

I am in discussion with my clueless and strategically uninvolved sister regarding our mother’s care. Our mother needs to go into an assisted living facility, and my sister is in total denial and is balking at the whole process. She said I need to just put all of our mother’s assets into some kind of investment or annuity or something so that my mother could get $15,000-$20,000 a month as a return. Then we could keep her in her home with round-the-clock care.

Because my sister is totally clueless, by her own choice, she has a very fictional idea of what our mother’s assets are. So that got me wondering how much my mother would need to have an order to convert it all into a $15,000 a month investment return (assuming run-of-the-mill investments and nothing crazy-risky). Is there anyone here who could do a back of the envelope estimate for me? I want to see just out of touch with reality my sister is.[/quote]

OP, I've read through the entire thread. Since you said your mother is healthy and in her 60s, but also needs AL, then I am assuming she is physically healthy but has early onset Alzheimers. I know a friend of my parents' who was diagnosed at 65 and lived until 85. They put her in a group home and lived there the rest of her life. They couldn't afford at home care or AL.

You also said she has nowhere near 5mm required for longer term drawn down of 4%. If you and your sister don't have the ability to augment whatever she does have, then you need to take what she has and put that in whatever will pay the most but remain safe, including the money from the sale of her house, and put her in a full pay facility that eventually will take MediCAID once all her assets are spent down.

Caring for the elderly is extremely stressful, made worse when there is no good financial means.

Good luck.

[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics