We just managed to sell steps dads house and cleared $193,000. He has another $50,000 or so and gets $1600 social security. He recently fell and got really messed up by his hospital stay which started with two days in the ER hallway. He has been in a SNF for two weeks and is bare!y able to walk with PT helping him.
If he goes to LTC it will cost $560 per day, but at least there is a relatively c!ear process to get Medicaid to take over.
If he comes back to live with me it will stretch my ability to care for him and health aides will cost $30 per hour. Even 8 or 12 hours per day will burn through his money pretty quickly. The state plans for home care are more confusing and seem to be limited based on how much funding the state has available.
So deciding what to do is an issue. I recently did full time care for my mother for four years until she died at age 96 in August, so I have used up a lot of my energy.
But the real topic that this got me thinking about is what about me with no kids to take care of me.
I have planned to set up some sort of hired care. But the reality of the numbers is hitting me and without inflation it seems that something like this will cost $200,000 per year or more. That seems like a huge chunk of money. Who knows how the nest egg will fare, but I can see maybe only enough to fund five or six years of that level of care.
Maybe I won't live as long as them, or will die from something like a heart attack. But this seems like a major planning issue. I have been fo!lowing some of the other threads so don't want to beat a dead horse, but this was on my mind this morning.
If he goes to LTC it will cost $560 per day, but at least there is a relatively c!ear process to get Medicaid to take over.
If he comes back to live with me it will stretch my ability to care for him and health aides will cost $30 per hour. Even 8 or 12 hours per day will burn through his money pretty quickly. The state plans for home care are more confusing and seem to be limited based on how much funding the state has available.
So deciding what to do is an issue. I recently did full time care for my mother for four years until she died at age 96 in August, so I have used up a lot of my energy.
But the real topic that this got me thinking about is what about me with no kids to take care of me.
I have planned to set up some sort of hired care. But the reality of the numbers is hitting me and without inflation it seems that something like this will cost $200,000 per year or more. That seems like a huge chunk of money. Who knows how the nest egg will fare, but I can see maybe only enough to fund five or six years of that level of care.
Maybe I won't live as long as them, or will die from something like a heart attack. But this seems like a major planning issue. I have been fo!lowing some of the other threads so don't want to beat a dead horse, but this was on my mind this morning.