But who wants to live to 100 if you have to live like this? 90's Nursing home (private room): $87,200 Out-of-pocket long-term care: $14,000 Assisted living: $89,000 Adult day services: $36,400 http://www.smartmoney.com/retiremen...100-that-will-be-35m-1329867159468/?link=mktw
Its so amazing how in america 99% of us are conned into thinking we need that much money. How are those old people in the 3rd world making it on $2 per day. For instance...Indonesia is one of the poorer countries in the world. Life expectancy there is 72. In the US its 78. So we give 100s of thousands of dollars to doctors and nursing homes for what? To live an extra 6 years? Forget that. A freaking con game, I tell you. Enjoy life and go out fast or feel miserable for those extra 6 years while you are taking drugs that make you feel sick all the time.
https://secure.wikimedia.org/wikipedia/en/wiki/Economic_mobility is mutually exclusive from https://secure.wikimedia.org/wikipedia/en/wiki/Social_mobility
After taking care of my grandmother for the last six years of her life I can atest to the exorbinant amount. Unless you have a family member who is willing to step up to the plate the elderly are going to have thier estates sucked dry and be thrown out in the waste dump. The industry has it setup so all possible money from the state and the social welfare system is extracted. My other elders who are babyboomers can rot and die. They did what most people do take thier problems and hand them over to someone else. The healthcare industry is anticipating the attitude of the boomer generation and will exploit them to the fullest. The New World Way, Akuma
old people who need expensive medical care should be reduced to a modest house, a modest car and a modest income. Medicare pays my mothers bills, she never knows how much things cost, but a pacemaker can't be cheap. Yet she still has plenty in the bank. Good for me someday, but not good for the country.
Elders should just gift away all of their money to their children before they go to a nursing home. If you have no money, can't the elders just go to a nursing home for free?
The whole system is farked, costly to the point of confiscation, and riddled with fraud and stupidity. Plus, a goodly percentage of those in nursing homes are near or total vegetables. The system is badly flawed.
They do get managed care but it is the bare minimum. My grandmother was a will, estate and trusts attorney. She always spoke of how bad things were went old people got sent to the nursing homes. They are treated worse than cattle. They get doped up so the staff has an easy day. Crap and piss themselves hate life and wonder why nobody will visit them. There are more freedoms in the penal system then in some managed care places. For people who have wealth there is some humanity left you pay through the nose for a 24 hour care giver at $24.00 to $30.00 an hour. I personally watched over my grandmother and it wrecked my life my career. I took out 6 years to keep a promise and got fucked over by my family and the system and regret keeping my word to an old woman. The wave of Baby Boomers will be on there own. The system can not financially handle the amount of people coming down the pipeline toward senility. For my parent that is left they can die a miserable death and rot in bed. I have my future first and you later. Just trying to get out of here, Akuma
I personally watched over my grandmother and it wrecked my life my career. I took out 6 years to keep a promise and got fucked over by my family and the system and regret keeping my word to an old woman. ------------------------ Imo, although you "regret" you did the "right" thing. There was no easy way out. If you hadn't kept your promise, you would have regretted that. You're a good guy....
There's rules with gifting assets. (and not in anyones favor except for the gov't) Chrck around though, I think the elderly can "loan" the cash to their children but there are specific rules for terms. Get it right and I think you can game the system.