I’m in an aissted living facility and I love it. However the cost is killing me. $5,500. My salary can cover this amount but I have nothing left over. Tried to get help from the VA but they said I make too much to get any support. Wish I can get help some where else.
Another excellent video Jeff with incredible information. Possible use of reverse mortgage may be helpful in the following ways to the senior. One, it can pay off an existing mortgage and make available that money being used to pay the mortgage payment to allow for continued in-home care with the caregiver so as not to need to go to an assisted living facility. This could be a great option for the senior who needs limited assistance but wants to age in place in their own home. Second, if possible, the line of credit made available to the senior can pay for the cost of one spouse having to move into an assisted living facility, while the other healthy spouse can still stay at home and age in place. The at home spouse will not be obligated to make monthly payments on any amount taken out on the line of credit that is used to pay for the assisted living expenses of the other spouse. Additionally, the at home spouse, can age in place for the rest of their lives without having to make necessary mortgage payments. The ongoing expense for property tax and property insurance can be paid for either through the line of credit that could be available or through the monthly income received, pension, Social Security of the at home spouse! Lastly, if the at home spouse also needs to join or move into an assisted living facility later on, the family home could then be sold and the mortgage paid off, with the proceeds available being used to pay for future assisted living expenses.
i am my dads dpoa and agent and he put my name on his deed and now is advanced in dementia we reside in CA but i want to move close to my daughter in Masurie sp? is there any thing that says weather i can do that? id like to find him a nice facility near our home and be able to visit him
Disappointed that you never mentioned that many senior living facilities charge buy in fees of $150K or even more ! Only discussing average monthly costs is very misleading. If you want to help , try listing communities by city which either have no buy in fee or a reasonable fee, maybe $25K or less.
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This information was awesome. Thank you so much. I will definitely share and add to my Assist Living playlist. Thank you
Glad it was helpful!
I’m in an aissted living facility and I love it. However the cost is killing me. $5,500. My salary can cover this amount but I have nothing left over. Tried to get help from the VA but they said I make too much to get any support. Wish I can get help some where else.
Thanks for the information!🤗
You are very welcome.
Another excellent video Jeff with incredible information. Possible use of reverse mortgage may be helpful in the following ways to the senior.
One, it can pay off an existing mortgage and make available that money being used to pay the mortgage payment to allow for continued in-home care with the caregiver so as not to need to go to an assisted living facility. This could be a great option for the senior who needs limited assistance but wants to age in place in their own home.
Second, if possible, the line of credit made available to the senior can pay for the cost of one spouse having to move into an assisted living facility, while the other healthy spouse can still stay at home and age in place. The at home spouse will not be obligated to make monthly payments on any amount taken out on the line of credit that is used to pay for the assisted living expenses of the other spouse. Additionally, the at home spouse, can age in place for the rest of their lives without having to make necessary mortgage payments.
The ongoing expense for property tax and property insurance can be paid for either through the line of credit that could be available or through the monthly income received, pension, Social Security of the at home spouse!
Lastly, if the at home spouse also needs to join or move into an assisted living facility later on, the family home could then be sold and the mortgage paid off, with the proceeds available being used to pay for future assisted living expenses.
Thanks for sharing that information with the community.
Might as well go on a world cruise for that amount of money. There's always a doctor on board.
I was Lucky enough to keep my husband who had Stage 5 Parkinson's and Dementia at home until he died ..
You should have a Canadian branch
i am my dads dpoa and agent and he put my name on his deed and now is advanced in dementia we reside in CA but i want to move close to my daughter in Masurie sp? is there any thing that says weather i can do that? id like to find him a nice facility near our home and be able to visit him
If you need help finding a memory care facility near your new home, you can use our search tool here: www.seniorliving.org/memory-care/
What a terrible thing to do to your dad.
Disappointed that you never mentioned that many senior living facilities charge buy in fees of $150K or even more ! Only discussing average monthly costs is very misleading. If you want to help , try listing communities by city which either have no buy in fee or a reasonable fee, maybe $25K or less.
Not everyone hasmedicare
TY!
You are welcome. please share the channel with your friends.
Whatever you do, if you're on SSI and have a payee, do NOT trust True Link card company, which are scammers, fraudulent, and embezzlers!
It's rideclous
High cost. Lousy care.
Only the wealthy can live a great old age.