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Re: If we're ER'd, why are we saving?
Old 12-01-2004, 07:22 PM   #21
 
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Re: If we're ER'd, why are we saving?

Hi ESRbob! My parents are also in their 80s. They don't have enough income to even pay your folk's annual fee
at their facility. Obviously I can't help them. May be a test for my creative powers some day.

John Galt
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Re: If we're ER'd, why are we saving?
Old 12-01-2004, 08:07 PM   #22
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Re: If we're ER'd, why are we saving?

Some of my 70+ contemporaries are starting to move
to retirement communities. In the Dallas area you
can get a nice 2 br, 2 bath apt with 3 meals per day
provided and all bills paid except phone for about
$3000 per month for a couple. These facilities are
pretty nice ...... something like going on an extended
cruise. You don't have to have a car as transportation
is provided for shopings, doctors, etc.

Cheers,

Charlie
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Re: If we're ER'd, why are we saving?
Old 12-01-2004, 08:32 PM   #23
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Re: If we're ER'd, why are we saving?

My parents live in one of those retirement communities. They are in their own apartment now and when the time arises, will move to the full care unit. At that time, we'll sell the apt but their monthly cost will increase.

They still have a car but love having the bus take them places. My Dad's retirement is 65k plus SS plus all the bond interest from bonds purchased in the 80s. 13% or more. Of course some them are being called now.

It's nice to not have to worry about helping them.
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Re: If we're ER'd, why are we saving?
Old 12-02-2004, 05:44 AM   #24
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Re: If we're ER'd, why are we saving?

My mother had a stroke in July 03-had been reasonably healthy for her age (77) up until then. Lived alone, drove her own car, did whatever she wanted. My father had died 6 mos previous. He had been physically as healthy as a horse but had Alzheimer's and she had cared for him for about 6 yrs.Anyway, she was getting ready to go to bed one night, had a stroke and was not found until the next morning. She lived and has made enough progress that she went from a nursing home situation to assisted living for which she pays approx 2800/mo. (This is in an economically depressed area of So Ohio, very Medicare/Medicaid saturated). That includes meals, cleaning, a certain level of care. After this experience, I think the progressive (maybe it's regressive) levels of care/assistance retirement communities would be a great option (my mother had no interest in this option before). You get to have a home, and maybe don't feel like you're losing that when your needs change. I don't think LTC insurance is the answer at this point because of the unknowns and possible disqualifications due to pre-existings.

This also ties in with the What have you learned thread. Tomorrow is promised to no one.

Something that's on my mind alot.
Judy

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Re: If we're ER'd, why are we saving?
Old 12-02-2004, 09:01 AM   #25
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Re: If we're ER'd, why are we saving?

Judy, I agree with you. *I have seen my and my husband's parents struggle living independently as they accumulated disabilities. *Each move disrupted their social circle. *

In a couple years I will be looking for a continuing care community that is near family members in the next generation. *It is important to review the community financials. *Proximity to family is important because they will be the ones to notice if your situation is problemetic. * We are still young retirees, husband isn't ready to make a move, so there is time to do research.

http://www.carf.org/consumer.aspx?co...merSearch&id=7 (select the last "AS" group)

I want to find a place like Twin Towers in Cinci. *My Mom has a relative who lives there. *The staff and the facilities are wonderful, it is non-profit and well endowed. *She probably paid the same $ as she received for her home, but her living conditions are appropriate to her condition. *The pity is she stayed in her house until she couldn't manage independent living, she is senile now. *She was a professional dancer and would have enjoyed their theater and athletic facilities if she had moved earlier. * http://www.twintowers.org/

It is interesting that the folks who don't think a cc community is in their future are males. *Life's reality is that it is usually the women in the family take care of their men until they can't cope or the male passes away. *Humm.... *
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Re: If we're ER'd, why are we saving?
Old 12-02-2004, 11:49 AM   #26
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Re: If we're ER'd, why are we saving?

Quote:
It is interesting that the folks who don't think a cc community is in their future are males. *Life's reality is that it is usually the women in the family take care of their men until they can't cope or the male passes away. *Humm.... *
Another factor is that men usually don't get really old. And senile men die fast. Not necessarily so with women.

Mikey
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Re: If we're ER'd, why are we saving?
Old 12-02-2004, 01:24 PM   #27
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Re: If we're ER'd, why are we saving?

A continuing care community can be a great place for a widdower, the ladies give them A LOT of attention.
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Re: If we're ER'd, why are we saving?
Old 12-02-2004, 02:30 PM   #28
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Re: If we're ER'd, why are we saving?

My grandmother has been in an assisted living facility, first on the independent side, now on the fully-assisted side, since 1994, and she's now 95 years old. It has only been in the last year or so that she's begun to lose her mental faculties, and, unfortunately, now has inoperable bowel cancer. (we don't know how long she has, but she's been "ready to go" -- as she's told me on numerous occasions -- for years).

Nevertheless, she has absolutely loved the building in which she's been living these past 10 years, even more so since my grandfather died in 1996. She has eaten well, enjoyed countless hours of bridge, majjong (sp?), music performances by local schools, large print books, shopping trips by bus to the malls (she never learned how to drive), etc... I have no doubt in my mind that living in the building extended her life substantially, allowing her to spend time with her two great grandaughters (not to mention the myriad of other family members who live near the building, including my parents).
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Re: If we're ER'd, why are we saving?
Old 12-02-2004, 11:07 PM   #29
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Re: If we're ER'd, why are we saving?

Quote:
I want to find a place like Twin Towers in Cinci.
My paternal grandparents enjoyed the same lifestyle near Cinci at S.E.M. Laurels in an independent-living apartment for about a decade.

Quote:
Another factor is that men usually don't get really old. And senile men die fast. Not necessarily so with women.
Mikey
Don't count on it... after my grandmother's death, my grandfather gradually slipped into senile dementia. It took four years for us to realize that he couldn't handle living in the apartment, and he lived in the full-care facility for another 14 years.

I have to admit, though, that they were the happiest years of his life.
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Re: If we're ER'd, why are we saving?
Old 12-03-2004, 02:17 AM   #30
 
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Re: If we're ER'd, why are we saving?

I am steering back to the original topic, unlike my usual
procedure

We are no longer saving and do not intend to.
However, we do intend to maintain our present net worth indefinitely. It was increasing but has now
flattened out. The big dangers to this plan are
high inflation or large uninsured medical expenses.
The unknown on the plus side is whether I will inherit
anything. Not counting on it.

John Galt
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