Retirement Costs for Elderly Parents

[murray t turtle]

Serious question:
How do people afford nursing homes?

I'm looking at the cost for my inlaws to go to a CCRC community. The PV is like 2MM and that's assuming that one lives for 8 years and the other for 20. 2MM is substantially greater than the median net worth of someone over 75 and even substantially greater than the average net worth (which of course is skewed by some very wealthy boomers).

Am I missing something? How do people with a few hundred thousand in net worth live in their old age?

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Excellent question. I think , the same way someone with a net worth of $15 million does.
See Jack Lalane.
Good health is not an accident+ its like my banker dad said ''son accidents do not just happen, they are caused.''
I smoked for about 7 years but your body was created for health also.
IF someone smoked all his life, maybe different, even though George Burns burned cigars all his life, but swimmed , walked a lot, died , passed 100years.
For sure find better than Medicare. Hope this helps Neworldm, it helps me.