Is anyone else outraged by the cost of living in a retirement home? I have been searching for a decent place for my parents and am truly in shock by how much money is expected from the elderly. To start the going rate is $5000.00. I have found one place that the rate is $10000.00, to start, omg!!! Someone needs to lobby the government. They are taking advantage of our elderly and the families, this is theft, and extremely unreasonable. Doesn't this make you angry?
My friend's parents lived in one. Her Dad had 3. Yes 3! retirement incomes coming in, plus her Mom has SS. They could easily afford it. Compared to us with just one little 'ol SS income.
The market determines the cost and there are many places around like that where we live & they have waiting lists. Lots of rich folks around, I guess.
No one in my family will ever be able to afford one of these places.
There are other alternatives though - 55+ Mobile Homes at low prices with space rent that may be several hundred dollars a month - but they have activities and amenities, Senior Apartments, 55+ Condos. Or just aging in place and using the money they saved by not moving by hiring assistance as needed.
My Grandmother lived in a 2 story house. She aged in place by turning her dining room into her bedroom, and was helped by her family. She wound up renting out her upstairs to a young couple for extra money.
Instead of being discouraged and angry - remember, you can't change this situation. It's easiest to work within the parameters of what is affordable in your own situation. It is what it is, unfortunately.
I agree that something needs to be done. It is going to get harder for children to care for parents. I had one girl at 28 the other at 36. When I am 85 my girls will only be in their 50s. Both are single and have to work. There are LOs that are falling thru the cracks. Not poor enough for help and not enough money to afford an AL.
Ind Living retirement homes are around $4,000-$5,000 move in (in Northern California Retirement home).
Assisted living generally (could) includes meals and nursing assistance and 'add on' services.
This is what preparing for one's retirement should include -- either savings for expenses like this, or long-term care insurance. It's the people who think their money shouldn't be spent on their own care and instead left to their children and grandchildren who tend to be the most outraged.
It is worth it to you cause you have the money.
Frankly, I feel you have no idea what you are talking about - giving $ to kids and grandkids. Ah, no. Where are you getting your "facts" from.
Its always easy to talk as you do when you have a plump bank account.
We had long term. Are, but at 65 the rate tripled n no longer could afford it.
Then we had a terrific savings game.
But we git caught in a Ponzi scheme at 69 and now live on a SS ck.
Yes i have a house that will take 6 mo. N all will be gone.
I'm 83 ... no family to help.
What am I going to do?
Work until I can't, home until I can't then make the best of it in a gov funded NH bed.
Yes. We need advocates in government.
Bottom line: no money - and lots of it - compromised care.
The 'someone' to lobby is YOU - US - people who care.
Align yourself with advocacy organizations or lobbyists working on this.
Post everywhere. Network.
The people that get caught are middle income. They are not poor enough to get government benefits poor/low income people get nor rich enough to afford care.
It is an outrage how we treat our elders in this country.
Yes, there are good and bad places and you have do to your homework to find a good fit. And never forget most residences are For-Profit businesses and the goal is to earn money for the investors.
They're mostly for profit businesses, so expecting them to screw you pricewise is the norm.
My Mom worked since she was 17. She wasn’t able to start to invest until she was around 50. And she worked right up till days before her stroke she was 2 weeks shy of 72nd birthday.
She did not live lavishly - she was the penny pincher generation. She believed she saved enough for retirement to live comfortably (as a minimalist) and had she not had a severe stroke she would have been ok. The one thing she didn’t have was Long term health. One massive stroke - every logical and careful decision she made went out the window.
She was 100% proactive in her health - no medications - exercised daily in her pool - just cleared all arteries (a little less than 2 months before) and running her own company fully independent. Things happen that cannot be planned for and when if they do happen there is not many great options for people with a higher level of needs. Scary and also sad - has made me think about the many who have even less than my mom - I often find myself in the hard moments telling mom “even if we feel lost here most days - we actually have so much more than many others”. I try to remind us of our blessing - as it’s not a pretty world out there for those with larger disabilities and it saddens me to no end.
Her money would be gone or close to gone right now if she was placed right away. She was a small business owner - as am I - I think back now and see that has also hindered myself in investing in my future. Ugh.
So yes - I do agree with you. To be healthy and living in active lifestyle and aging and having additional needs is hard to pay - but gosh one large medical health crisis really can throw everything someone worked for out the window. I feel awful knowing how many go through this daily.
The government here IS involved, and it's called Medicaid. It's our version of socialized medicine, and just like in those other countries, there's a limited number of beds for too many people.
The best thing you can do is work, save, and invest for your retirement, and don't alienate your children.
Yes, we are our brother's keeper. I worry about my gardener and his wife who cleans houses. They work very hard and are getting old too. Try to really love your neighbors.