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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]As others have said, the cost of care is exorbitant. My mother in law is paying $15k a month for my father in law’s nursing home (technically a rehab, but he cannot do physical therapy anymore and is just in bed for the past year.) they are Umc but not very rich. [/quote]

OP here. Thanks for mentioning the cost of nursing home care. $15k a month for 2 people would mean $360k a year. It seems like it would take $10m in investments to pay for that. DH also wants both of us, and our parents, to avoid nursing homes but instead have in-home care. Who knows how much that would run.[/quote]

Find a top notch CCRC and enter while still healthy enough (ideally by 75).  [b]Sure you pay $300-500K+ in entry fees, but that covers your nursing/memory/assisted living care when you need it.  [/b]Good ones mean if you "run out of money/investments" you don't owe anything else---they cannot touch your SS, only your other investments.  
My parents are in one, and there are currently 4 people (all widowed women) who are late 90s/over 100 who "have run out of $".  They no longer pay anything.  Two are still in independent living, the others are in higher level care.  
My parents pay their $7K/month for their apartment and that covers 1-2 meals per day and all utilities/cable/etc.  All they pay is renters insurance.   
Should they need advanced care, all we pay more is for the full 3 meals a day (so extra $300/month/person).  
[/quote]

Everyone I know who suggests one of these facilities is a HUGE spender and terrible with money management.

$7k a month for rent on top of 300-500k to buy in?  That’s laughable.

The average American is in LTC 2 years max.  Most people do not spend anywhere close to what you’re suggesting. [/quote]

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