Lucky for me my parents were both “I didn’t save anything for retirement, my kids will take care of me when I’m older”, so I don’t have to suffer through this.
Lucky for me my parents were both “I didn’t save anything for retirement, my kids will take care of me when I’m older”, so I don’t have to suffer through this.
My mom is “choosing” to spend it at a retirement home because we can’t have her live with us and my brother is an asshole. And honestly, I’d rather have her spend her last years in comfort (we won’t even be in the same country) than get some windfall when she dies.
Retirement homes aren’t cheap. She’s in her early 80s, but both of her parents lived until their 90s, so I’m guessing there won’t be much of any inheritance left over.
My mother told my wife that if my father passes away first, she wants to go live in a home, not with us or my brothers (great, because I do not think her living with us would go very well). But of course the unspoken question was, “Is there money for that?” Given we just gave them money to fix their HVAC, I doubt it. So is the plan that my siblings and I are going to pay for it? It’d be nice to know so that we could plan…
And, of course, Medicare does not cover assisted living. My mom is not fabulously wealthy, but it sounds like she’ll have enough to make it. Good luck to your parents.