I moved my Mom into Assisted Living earlier this year where all residents are `private payers’ & it doesn’t come cheap. But because my Dad planned Mom’s survivor benefits & my wife & I planned our retirements, things are OK financially.
When my dad died, in 1987, he left my mom very well provided for. She lived on her own until right before her 90th birthday when she decided that she needed assisted living. She has spent 10 years there and now needs nursing home care. She has spent nearly every dime paying for the assisted living facility which is almost $10,000 a month. Fortunately, she doesn’t realize that there is essentially no money left.
You can plan well in advance but you had better plan on living to 100!