Quote:
Originally Posted by Baz
What I was thinking instead --- is to take the funds you would have used for LTC insurance --- and invest them instead into construction of a living "area" for your loved ones. Either as an addition to your existing residence or the property next door.
It could even be a separate structure on your property such as a carriage house or maybe garage/shop/living quarters combo.
There's also the option to re-locate to a property that already has what is needed - because there usually are plenty around.
I realize in some situations it's better to have your loved ones in a facility run by someone else.
But in many case, being the one who cares for them, maybe with a weekly visit from housekeeping/nurse/etc., I don't think you could do better - including on the financial aspect.
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It depends on the illness.
I will try to make this short.
Mom and dad were in decline but still living on their own. We ( two sisters and myself) tried to get them into assisted living but they refused. Shortly thereafter dad got a kidney infection and was hospitalized. I volunteered to stay with her. Reality set in. She was in deep trouble. She would get up in the middle of the night to "go to church or go to the store". I was lucky to hear her.
So I started sleeping on the floor in front of her bedroom door. The 3rd night she got up, spotted me and panicked. "Call 911!!!!" she screamed, thinking I was a burglar or something. She proceeded to beat the living crap out of me. Clawed my head, chest and back with long gashes. She was uncontrollable. Called little sis (hubby was a cop) and they came to help. She was hospitalized and placed into a home after being drugged into a drooling zombie. She passed in less than 3 months.
Dad was placed in a home after never really recovering. He lasted 6 years.
It was terrible. She went from a loving sharp older lady into a crazed person. All because she missed her man of over 50 years.
Please, put plans for your death in place today. Let family know your wishes. Get legal documents in place. Don't wait.