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[quote=Anonymous]Here are a few tips based on helping my parents navigate aging on slim retirement savings:

1.  Stay out of senior rentals, assisted living, etc. for as long as you can. Even home health care aids 1-3x per day is less expensive than these settings. That being said, don’t drag it out too long if you really need it.  It is a tricky balance to strike, but every few months in a less expensive setting is a month in a more expensive one. (I would give the opposite advice to someone more well-heeled: get into that kind of setting before you need it.).

2. Really work to understand what you are entitled to via-a-vis Medicare.  I think my parents could have gotten reimbursed/covered by Medicare for some of their home health care aides.  You can’t figure this out in advance, since the rules are always changing, but if/when the time comes try to dig into it.

3. De-clutter well in advance. Thankfully my parents largely did this but still had expenditures for rapid dispensing of belongings prior to quick moves.

4. Related to #1 above, be aware that many CCRC’s have re-branded themselves to Lifestyle something or others. The key here is that they no longer allow someone to come in and pay a flat rate for years of care, no matter which level of care you are in. Many of them now charge more for each level of service with the only advantage being priority admission. Some will also say that their Foundation arm will pay for lifelong care if you run out of money but they don’t actually contractually guarantee this. 
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