Reply to Care to share what you (or loved ones) pay for assisted living?

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Reply to "Care to share what you (or loved ones) pay for assisted living?"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]What happens if you don't have that kind of money?[/quote]

Somebody posted something the other day about "Why is everyone so obsessive about saving for retirement"... this is a good example as to why because there are no guarantees in life.[/quote]

Yeah--these are insane amounts of money, and frankly, as someone with 70-something parents, frightening.[/quote]

Yes but when you retire with a paid off house and even modest retirement account amounts, you should be okay for decades of retirement. [/quote]

As long as you're healthy though, right?  What if you need nursing or assisted care for many years?  My father is in income-controlled housing and his health is good for now, but he doesn't have more than SS/Medicare and we don't have any extra to contribute.  My mom should be okay, but still.

If anything, it makes me feel even better about us prioritizing retirement (we'll have government pensions, assuming we don't leave our jobs, in addition to TSP/401K).  I don't think most people realize how expensive this kind of care is.[/quote]

In your parents situation medicaid will pay and they will require a social security contribution but allow your mom to keep some for living expenses.  My MIL is on medicaid.[/quote]

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