Reply to If you know you’ll be inheriting a significant amount

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]If your parents really had all that much, they would have taken advantage of this era of trumps estate tax exemption to gift to you. Since they havent, to me that means they have something in the five to ten million range. Hate to break it to you, but they could go through most or all of that. My parents' elder care costs 300k per year. Your parents could live another ten to twnety years.

Dont count on it until it is in your bank account.[/quote]

It’s a good reality check. My parents’ care and assisted living costs $20,000 per month[/quote]

That is just dumb. [/quote]

Exactly. IIRC, the median net worth for 65-year-olds is less than $250K (and this INCLUDES home equity). There’s no way that anybody but the most privileged of the most privileged could even consider spending a quarter million dollars a year on elder care. And while I’m sure you can get slightly better care if you spend more money, there is no epidemic of the elderly spending their days in godforsaken environs.

This is like saying that one has to spend $5 million for a house to be able to live comfortably.  Utter nonsense.[/quote]

While I agree most people can’t afford $250k a year on elder care and that less (but still) expensive options can be had, there absolutely IS an epidemic of elderly spending their last year in pretty dim conditions.

My grandfather with dementia had the money for memory care but not also a personal aide. My mom would stop by regularly to find him in a wet diaper having skipped a meal because he did know he was supposed to go and no one came to get him. She tried a new place and it was the same. She still worked full time but stopped by before and after work to check on him. And he was one of the lucky ones. [/quote]

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