2026 investments
- Thread starter BCClone
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Is that assisted or independent living in a facility that also offers assisted? These places are never open with prices.
Seniority says this
“Mills Harbour Independent/Assisted Living is an Assisted Living community in the Lake Mills area. Estimated costs for this community start at $5,300/mo, which is higher than the cost of care in the Lake Mills area of $5,200/mo.”
It’s one advantage of this area. Full care centers are 9-10 for single occupancy. There is a cheaper one out when I checked for my mom a few years ago, I’m guessing it still is so probably would be 8-9 area.
Not sure what seniority is but I just know what I am told what they pay. Not sure what the last sentence says.
The assisted living places I mentioned you have your own apartment and they assist you with basic needs such as cleaning, meds, meals included and 1-2 other things in their package. A guy whose funeral I just went to recently had to have everything done for him. He was in the care center but the family did t like him there so the assisted living had opening and they charged 3900 to basically give him over the top care.
Competent honest caring help is the hard part, but that is also true in the living facilities I think.
I was President of a Development Corporation that built brick and mortar spec homes, manufacturing facilities, medical clinics, subdivision developments etc. One of our projects was a 34 unit Assisted Living facility that we built and operated for ten years and sold to a private entity. A third of the units were 2 bedroom and the rest were 1 bedroom with lots of non-revenue producing square footage devoted to dining rooms, lounges, a library, hair dressing/barber shop, bar/movie theatre, work out room, chapel, etc. That is one reason the rates are so high, the added footage for those service areas do not produce income along with added property taxes but are needed to attract residents....supposedly. The buck stopped with me and I never want to see another sprinkler system or elevator inspector again in my lifetime, they are extra picky about facilities with non-ambulatory residents. These type of facilities were approaching $5,000 per month when I got out 12 years ago. I know that on the East Coast single resident assisted living is $10,000/$12,000 a month now.
Getting back to the point of the thread. When you get over 60 and have been exposed to the cost of living to a "ripe old age" and the "golden years" your thoughts on the reason why you have been investing wisely all these years change drastically from when you started investing in your 20's.
Getting back to the point of the thread. When you get over 60 and have been exposed to the cost of living to a "ripe old age" and the "golden years" your thoughts on the reason why you have been investing wisely all these years change drastically from when you started investing in your 20's.
My mother is just beginning her 6th year of nursing home care. She pays $336 per day ( I think we had two raises in the last year), in northeast Iowa for her care. In addition she spends another $ 500 per month for medical related expense ( Dr, dentist, drugs, Medicare ins. ). Came to about $127,000 last year. Fortunately my father left her in a financial position that she has been able to afford the cost of her care.
I don’t think there is any way that I will be able to pay for 6 years of nursing home care when my turn comes.
I don’t think there is any way that I will be able to pay for 6 years of nursing home care when my turn comes.
Here’s the thing though, if all they need is assisted living, in home care is extremely easy and also very affordable by comparison.
If they need actual nursing or advanced care that’s going to be more expensive but often times can still be done much cheaper at home depending on the severity
I looked for inhome for my mom. Someone to help with bathing, laundry and cleaning. She could get around. I honestly could not get even agencies to supply one because we didn’t have any/enough in our area. So people go to assisted living. This was 5 years ago so things could have improved but I’m guessing not much.
+1.
Sis & I did this with our folks last year. Just reassuring to know what is where, and what they want done with their money and/or stuff. And how much risk there is wrt assisted living / nursing home (my folks have pretty good insurance they bought long ago).
I totally get this, most people go through agencies which are the absolute worst, it’s like going to a flower shop and saying you need something for a wedding, you are going to pay so much more.
Cheat code for home care is to go to a local community college or other institution and grab a soon to be or recent nursing assistant grad. You pay a fraction of the assisted living costs, they make way more money and you can even get more creative with ways to save more on their cost if you have space for a live in opportunity or so other creative means. Plus it’s better for the elderly to stay in their home if they can.
Navigating end of life care is just a mess and it’s almost set up to be that way on purpose
Why is it happening now? I have no idea what might have changed. It’s down like 13% today.
i think just overall fear and profit taking. no clear reason. maybe a stalled crypto bill. just a trump tweet it would probably start to recover
Mostly margin calls and deleveraging with a sprinkle of rumor regarding who may have been involved at the start of Bitcoin.
I bought some precious metals last Spring. Feeling pretty good about that decision, though probably should have sold last week (and bought 10 years ago, but better late than never I suppose)
So your cost is really just 8,500 per year. Every year you are trading a two year old car in for a new car. You pay the difference which is usually about 8,500. Then you always have one brand new car, and one car that is a year old. Everything is under warranty all the time. I would guess you really don't pay any maintenance because you wouldn't rack up that much milage.
Works out to just over $700 per month, which I think is lower than the average car payment these days.
