Stocks go up down up down up down up

I think you’re gonna wanna google the cost of nursing home care

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Yeah, no. Or at least not in high care levels. Assisted living would still be a stretch.

Ah, I was looking at a retirement home, not nursing home. My bad, I wasn’t really putting effort into my retirement planning at that moment.

Nonetheless, looking at the highest estimate of nursing home care, $600k gets me through nearly 5 years. As much as 14.5 years looking at the bottom of the range. Hopefully I don’t require that level of care for that long. Depending on the details, I’d consider euthanasia at that time, traveling to another state or country if needed.

Best hope is any such care will be of short duration.

One advantage of living in a stupidly expensive housing market like Vancouver is that selling your house should cover nursing care.

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Depends on what assumptions you make about the cost and your return on investing the $600,000, but yeah that’s pretty optimistic.

Canada has one of the most liberal regimes in the world in this regard so your travel costs will be modest.

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When my parents renovated their “retirement home” (really my grandmothers house they inherited which was really old) they tore it down and built it back up with an elevator and a nurses station with its own bedroom and an adapted shower (house has six floors their room and nurse room is on the top floor).

Cost of nursing care at home with say a live-in nurse will come out way cheaper (€50k/year) vs a nursing home, plus you get to live as long as possible in your own home which is an added bonus.

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Just hedge it a bit with some ltc coverage that will pay a benefit for in home nursing care. Don’t need to cover 100%, but some amount that with SS doesn’t feel like your are blowing the savings you wanted to pass on to your kids or end up running out of money.

That will strongly depend on the level of nursing care. My brother’s friend’s parents had in-home nursing care (I think it was around the clock) for the two of them, at the cost of $1k/day.

My former neighbor is in an assisted living home (maybe a total of 10 patients) at a rate of $8k/month.

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If my house had primary bedroom on the main floor, I’d plan on staying here into retirement.

Idk who’s dumb idea it was to get a house with all the BRs on the second floor.

No way in hell I’d retire in a house with 6 floors (6? really?? ) and need an elevator. I’d be forever having anxiety about being trapped upstairs in a fire. :scream::grimacing:

Wow! I assume this is not in Toronto, London or Vancouver!

lol nothing that ostentatious (plus getting planning permission in London would make your hair turn white due to stress)

My grandmother was from a medium-sized town in the NW of Spain. Its a nice area now because of climate change (Madrid and the south in Spain can get unbearably hot now in the summer) and you see mostly large-ish houses there (vs say an Appt in Madrid)

They built it this way (6 floors) because they have 4 kids and each family gets 1 floor of rooms (2bdr/2bath per floor), with them having the top floor with the nurse room, and one floor for living/dining room/kitchen etc. I think they have also added in a small basement now for a multimedia room (under construction las time I visited).

I have dreamed of doing this so my four adult children and our grandchildren could live with us but there are certain financial challenges to doing it in Vancouver!

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Who is gonna buy that house when you’re done with it

it’s gonna have a very narrow market

But yes I think the comfort of living at home is unparalleled

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My guess is that in Spain it might be more common for adult kids to live with their aging parents… might not be too hard to find someone who wants to do more or less the same thing with it.

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Someone like Cooke may buy it? Could also possibly be a rental property with each floor rented out separately? Northern Spain also a nice place to retire?

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I feel like you could get a better rate if you hired a few LPNs directly.

I think they get vastly underpayed, but personal care attendants here are making around $18 to $20 CAD/hr locally. That would be $480/day or about $176k/yr. The government would likely cover a portion of that.

Also depends on whether you need 24-hour care or just a handful of hours during the day. Mrs. Hoffman works at a place that does in-home care for the elderly, stuff like making meals and cleaning and helping out with things the clients want done and even showers if needed, and it’s probably $30-35 an hour with ~70% of that going for employee costs after figuring in taxes.

But 8-10 hours a day of help probably covers a lot of stuff that you’d need done during the day.

Quite a bit of drift. Wrapping back to what started it, I don’t count my home as an asset, but if I misjudged by a few years’ expenses in my twilight years it’s always there. And I wouldn’t want this due to just poverty, but if I’m going to be completely infirm/severely in pain/otherwise unhappy for a long period, I would seriously consider euthanasia. It’s easy to say when I’m comparatively young, but I don’t think I’ll change my mind.

Stock market’s green today.

Damn, the Russell 2k really rallying today.

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