Cost of a Retirement Home can be Astronomically Expensive

the personal finance idiot

I don’t know if people are aware of how expensive it can be if you become ill in your old age. For assisted care, retirement homes can cost upwards of $4000 per month or far more. This type of care may include 24/7 onsite care with nurses and a doctor. Staff is there to clean and cloth these seniors, and provide them with the necessary nourishment they require.

Oftentimes, the people requiring this type of care are those who are not able to take care of themselves. These are seniors who may be suffering from Alzheimers or seniors who have taken a fall and require a longer recovery.

The point is: in order to be able to afford this requires putting away enough money to cover these costs that may occur later on in life. I often hear stories about families who can not afford this type of care and…

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