But most seniors would prefer to age in place, according to a 2021 AARP survey.
Its not always possible, and certainly not easy.
The median price for one month in a private room in a nursing home in 2021 was $8,910.
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A semi-private room cost $7,800 a month.
The average cost of a home health aide in the retirees home was $27 an hour.
Probably not as good as youd like.
It always seems like an uphill battle to build (and keep) a decent amount in savings.
But what if your car breaks down, or you have a sudden medical bill?
Dont do it, said financial journalist Jean Chatzky, who serves as an ambassador to AARP.
She hosts webinars and talks about the financials of aging.
The amount they would spend on care may be equal to the amount they would earn.
Here are various options for keeping seniors in their homes and decreasing the costs of doing so.
The cost is less and there is more structure and socialization with a group.
The Ruth Sheets Center now cares for about 30 seniors a day.
Ten hours of care costs $71, or about $7 an hour.
Its OK if they have Alzheimers disease, are in a wheelchair or need assistance going to the bathroom.
We do cognitive activities throughout the day.
It might be as simple as naming the states, which can lead to a variety of different conversations.
The whole key is to have a go at get everyone involved, to spark the mind.
Everyone on staff knows CPR and is certified as a Clinical Nursing Assistant or Patient Care Assistant.
We ensure socialization goes along with the competition.
For-Profit Adult Day Programs
There are numerous for-profit adult day programs.
Care plans are developed with the family and staff to help create meaningful and appropriate activities, she said.
SarahCare offers a wide variety of group and individualized activities.
SarahCare also gets the community involved.
If family caregivers at home cant shower seniors, thats an option at SarahCare for $21.
Transportation costs $14 one way and $28 round trip.
(Rates vary with location.)
Some, however, do have day-long programs.
Clients need to be in good physical health and able to follow programs on their own.
Both parents are better now but at ages 95 and 97, their health is deteriorating.
Fortunately, we are both retired, and our children are grown.
We decided we wanted to do this for them as long as we can, Ellen said.
They would go through so much money there very quickly.
The hardest medical stuff we had to figure out was when Daddy got discharged from Duke University Hospital.
We had to keep him on the IV for the antibiotics, Ellen said.
The hospital gave them a free class and they didnt leave until they really knew what they were doing.
Ellens mom has wet macular degeneration and her sight is very limited.
Medicare completely covers an occupational therapist to help her continue daily functions.
Medicare also provides other visual aids such as special lighting and an eye patch., Ellen said.
Another thing that helped was adding a lift chair to the home.
Prices start around $300.
There was extensive work required such as moving a wall and reworking plumbing.
We made it all one level, added grab-bars and a fold-down seat in the shower, Ellen said.
The job was more than they expected, around $14,000.
We did this five years ago and it has made it so much easier for all of us.
It sounds appealing right?
Check it out here!
