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| Economy |
| This retirement expense has hit $100,000 annually ‐ and it's continuing to rise |
| 2018-10-21 |
| [CNBC] This retirement living expense has nowhere to go but up. The annual cost of a private room in a nursing home has cracked the six-figure mark, according to Genworth Financial. The national annual median cost of a private room in a nursing home is $100,375, the insurer found in its 2018 Cost of Care study. Overall, the rising cost of care has outpaced inflation. The Consumer Price Index for all urban consumers was 2.1 percent for the first half of 2018. The annual median cost of a room at an assisted living facility grew by 6.67 percent between 2017 and 2018. Meanwhile, the cost of a shared room in a nursing home jumped by 4.11 percent. |
| Posted by:Besoeker |
| #7 If you need this sort of care in your later years, plan to move to a third world country, or buy a robot. There is no way for a normal person to make enough money to pay these bills given the current inflation rate on medical care. In a related story, my mother-in-law actually had insurance for long term care, and yet chose to die rather than use it, because she wanted her independence. It is sad that she wasted her money on insurance she did not want to use. But that was her choice so, ok. The moral of the story, is to spend some time thinking about this problem. Absolutely no one will care about your choices when you are dead. Instead your relatives will be paying lawyers and funeral homes to get your things sorted out. |
| Posted by: rammer 2018-10-21 22:48 |
| #6 Military retirement
Yes, the job nobody else wanted. I never back up to the mailbox. |
| Posted by: Besoeker 2018-10-21 16:29 |
| #5 Military retirement and social security are not subsides. They're obligations for time or money taken. |
| Posted by: Procopius2k 2018-10-21 14:50 |
| #4 Military retirement |
| Posted by: AlmostAnonymous5839 2018-10-21 11:00 |
| #3 Compare that to around-the-clock home care by a skilled nursing assistant, let alone an RN. 8760 hours in a year, at $10 an hour = $87600 just for salary. The building, furniture & utilities are extra. |
| Posted by: Anguper Hupomosing9418 2018-10-21 10:53 |
| #2 Social Security and Farm Subsidies |
| Posted by: Skidmark 2018-10-21 09:06 |
| #1 Overall, the rising cost of care has outpaced inflation. Tell me something the government subsidizes that doesn't outpace inflation? |
| Posted by: Procopius2k 2018-10-21 07:17 |