“Before you can do anything, you have to do something else first.”
The Baby Boomer generation has different ideas about aging than their parents had. Boomers, in general, do not embrace the idea of going lockstep through the continuing care curriculum of independent living, on to assisted-living, and finally, to skilled nursing and/or dementia care. Also, most Baby Boomers haven’t laid up enough of a nest egg to carry them through retirement. Thus we all want to remain in our own homes as we grow old. The word is out and a whole range of products and services have emerged to serve that desire, from universal design, along with retrofitting the current home, to technology to monitor us. But what about the cultch that surrounds us? We’ve been shopping and inheriting stuff for decades. Before the carpenters can come in do their work, the space needs to be cleared to give them access.
Invest now in making your present home adaptable to your changing needs as you age in place. Think of it as your long term care insurance.
Ten Most Expensive States for Assisted Living Care Washington, D.C.—$82,674 Alaska, Delaware tied—$66,000 New Jersey—$65,160 Connecticut—$63,468 Massachusetts—$62,964 Maine—$59,400 Rhode Island—$58,740 Hawaii—$57,000 New Hampshire—$52,470On the other end of the spectrum, Georgia and Missouri are tied for cheapest states for median annual assisted living costs at $30,000, with Arkansas, South Carolina, and Alabama all coming in beneath $35,000. Median costs for a private room in a skilled nursing facility are even steeper, ranging from $57,000 on the low end in Oklahoma to $130,670 in New York and nearly $5,000 more in Hawaii, topped by $240,900 in Alaska.While home healthcare is often touted as a less expensive alternative than institutional care, Genworth’s cost of care map for home health services demonstrates that it’s only cheaper if round-the-clock care isn’t needed for a long period of time. The national median annual cost for home health aide services is $45,188, with Louisiana on the low end of the spectrum at $34,320 and Massachusetts and Hawaii at the high end, above $57,000 a year.