A few weeks ago a visitor who also works at a assisted care facility mentioned that the cost of that one was $5500 a month. I was staggered by that amount. She said assisted care facilities range from $4000 a month to $6000 a month. I think Social Security will be around $2400 a month. I realize now why they tell you to have $1 million or more saved up for retirement per person.
If everything works out perfect I would leave about half of that amount. I don't wish to be morbid but truthful. I would need to die before I was 77 because of my life insurance policy. When I took it out 20 years ago I was pretty sure I could save quite a lot of money after our kids were grown and before I retired. So 77 seems like a pretty good number. The insurance gets more expensive every five years and the cost after that age seem prohibitive. Now I find my work life was cut short by about 10 years. One thing that stopped when I went on disability is the ability to add to my retirement savings.
I'm so glad I have people we care for me in my home. The cost of professional care seem so far out of reach I try not to think about it. My dear wife assures me he will take care of me as long as humanly possible. Course I trust the Lord for everything to work out. If I trusted my retirement savings I would be a basket case.
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