Free Ebook.

Enter your email address:

Delivered by FeedBurner

« Riding the Wheel of Debt | Main | Creating A Richer Life While Living On A Tight Budget »

September 29, 2010


Feed You can follow this conversation by subscribing to the comment feed for this post.

I've thought about it, but I'm far enough way that only passingly... the only thing I can think of to do is keep trying to make more money, keep (restore) my health, and hope for the best.

If I were smarter, I'd would start to buy long-term care insurance while it's cheap for me...

Based on reading your post over the years... If I had your net worth and current income, it would be a slam dunk. I would definitely buy the insurance!

Whoa this is depressing. I understand the merits of preparing for worse case scenarios , but this is just too depressing to think about..

Depressing, yes, but a reality some of us are already facing with a parent. I'm glad to see the topic covered because this example is a good start at the issues to be faced. Alzheimer's is the cruelest of fates we will encounter on this earth.

Physical health is easy. Mental health is hard. The body can outlast the mind. Caring for an older family member with deminished mental capacity is just as costly (and emotionally/mentally) draining.

The word "burden" maybe unpleasent, even rude, but factually correct.

Great article for those of us with parents getting close to the point for assisted living. It would be great if some of the readers could post real-life examples of expenses they have seen. It would be even better if they could share examples of how this is handled financially.

For instance, is there a way of securing assets to shelter them from being lost ? If insurance is the best option what are some of the key points we need to consider when shopping for this ? Is it cheaper to buy it at a younger age ? Is there a threshold for benefits ? Are there different types of policies?
If so, what are the pros & cons for each? Is there a way to make this all work more efficiently ? Are there hidden dangers we need to know about?

I am too old to get long-term care. As a nursing home resident told me yesterday - she was able to get some, but her husband could not. He was too old to get it.

As for the Sanders example. I think you were way too downside on that. You said $60k per year for husband in a nursing home and wife still withdrawing $50 per year, as they had planned for a great retirement. Why would she need to withdraw $50k per year for only one person? That seems excessive by anyone's viewpoint. Why did you do this? Do you have a good reason?

The comments to this entry are closed.

Start a Blog


  • Any information shared on Free Money Finance does not constitute financial advice. The Website is intended to provide general information only and does not attempt to give you advice that relates to your specific circumstances. You are advised to discuss your specific requirements with an independent financial adviser. Per FTC guidelines, this website may be compensated by companies mentioned through advertising, affiliate programs or otherwise. All posts are © 2005-2012, Free Money Finance.