Reply to Aging parents - what am I looking at financially?

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[quote=Anonymous][quote=Anonymous]My mom has been 4 1/2 years in an assisted living facility. At the end of year 3, she ran out of money and LTC benefits, so we've been paying most of the bill since. (She has just social security income.) We pay about $5,500 a month baseline. When she needs extra care (she's fallen several times, for instance), we hire extra help by the hour, which gets expensive quickly. This month we spent closer to $9000. This is in a lower-cost-of-living state. We haven't moved her here because it would cost 50% more. Yes, we could apply for medicaid, but the decent places have long waiting lists, she's in a good place, and moving her would be challenging (she has dementia and high anxiety). So we suck it up. [/quote]

What is your net worth and income?  And your spouse is good with this?  $5500-$9000 out of pocket per month is not feasible for most people, and even if it were, it would come at a huge trade-off and potentially cause marital problems.  So, asking about your net worth and income because there is some number at which people can afford to help their parents at that rate without dooming themselves... [/quote]

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