Talk of The Villages Florida - View Single Post - Senior care is crushingly expensive. Boomers aren’t ready.
Thread: Senior care is crushingly expensive. Boomers aren’t ready.
View Single Post
 
Old 04-24-2023, 08:01 AM
rustyp rustyp is offline
Sage
Join Date: Jan 2009
Posts: 3,218
Thanks: 5,241
Thanked 2,581 Times in 928 Posts
Default
Approx 27% of people will reside in a nursing home.

Median length of stay in a nursing home is 5 months prior to death.

The cost of a nursing home according to posters here is approx $7000 per month. Do not forget that includes the items you would have spent money on if at home - like food, entertainment, etc. Worse case here in TV is to sell your house and move into the nursing facility. I guess the median price of a house in TV is $400K. That is good for around 4-5 years in a home.

The fear is being wiped out - so says the people trying to sell you insurance. So on average you are protecting <$35K above normal living expenses. The odds are overwhelmingly in the favor of the fear mongers. It's whatever makes you comfortable.
Last edited by rustyp; 04-24-2023 at 08:27 AM.