NY Times: Don't Cut Pensions, Expand Them!

[Stoney]

I thought that the cost of living in a nursing home was equal to the amount your home sold for plus all of your bank accounts plus your pension payments.

Don't know, only people who don't save and invest and depend on others to save for them find out.

[R-14Driver]

Don't know, only people who don't save and invest and depend on others to save for them find out.

Average cost where I live is ( drum roll ) $77,000.00 per year for a semi private room a private room is $91,250.00 . Sure hope you save a ton and don't spend anything before your shipped of to a home !!

[Roadrunner73]

Average cost where I live is ( drum roll ) $77,000.00 per year for a semi private room a private room is $91,250.00 . Sure hope you save a ton and don't spend anything before your shipped of to a home !!

My Mother was in assisted living for a bit over 3 years. That ran about $100 per day in a private. It was an excellent facility. Then she needed a full nursing home. That was around $6400 a month for a semi private room. I learned a lot looking into these places for her to live in.

[Stan Smith]

Unfortunately, we usually don't think of the care or hands their in either until we are standing in the situation. Scary and disturbing to think about...

[Stoney]

Average cost where I live is ( drum roll ) $77,000.00 per year for a semi private room a private room is $91,250.00 . Sure hope you save a ton and don't spend anything before your shipped of to a home !!

Well how does that relate to this?

I thought that the cost of living in a nursing home was equal to the amount your home sold for plus all of your bank accounts plus your pension payments.

[Roadrunner73]

Well how does that relate to this?

What ABFer said is a common mistake people have about nursing homes. The first one my Mother was in there was a one time $1,500 fee. She paid by the month and was free to leave at anytime without owing another dime. The second one had no up front fee and it was pay by the month also. If a home takes a person in, and the person outlives their money, the home must accept SS and Medicare as payment in full. So depending on your savings, income, assets, no home may touch you other than a state run facility.

[Starkravinloon]

Don't know, only people who don't save and invest and depend on others to save for them find out.

I don't think there is any investment or bank account they cannot touch...I don't think they can go into foreign accounts,but not sure..Better not have much in your pocket either,when you go to sign in...

[ABFer]

I don't know what to tell you. When I have a delivery for one of those places I go to the front desk and tell them I am here to check in. They all say, "I hope you brought a whole lot of money because you are going to be here a looooong time."

[Stoney]

I don't know what to tell you. When I have a delivery for one of those places I go to the front desk and tell them I am here to check in. They all say, "I hope you brought a whole lot of money because you are going to be here a looooong time."

Doesn't really tell us much. It's all relative.

[ABFer]

It makes me feel young.