Reply to Private school vs paying for inlaws extended care

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[quote=Anonymous]I would echo what some of the PP are saying.  This doesn't seem to be a choice between destitute on the streets and a roof over their heads but between so so facility and preferred facility.  You would be taking on a huge commitment where the costs are only going up. What if the costs go up faster than you can keep up?  Could there be some other expense that comes up in addition to assisted living as time goes on?  Will your in-laws be able to pay what they were planning to pay for the so-so assisted living facility if you helped them pay for the more expensive place or could that even be in jeopardy based on their spending habits?

It also sounds like high school for your kids is between a so-so public school and preferred school, not necessarily that this is the difference between you child working to his/her potential versus falling thru the cracks.  However, if you commit to the more expensive assisted living facility you have cut off the option for your kids should they need more than the local public school can provide.

I would be very conservative about the commitment and either help them pay for the so-so facility so they have a little more financial breathing room or find something in between in terms of cost even if it means looking some distance. My mom is a proponent of doing what you can afford to do and making the best of it.  In this case the so-so facility is what they can afford.  It's easier to try something and move up to something nicer than get used to something really nice and then have to take a step down.  [/quote]

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