Stock market question for the long in tooth crowd

bwfarms

Twelve Pointer
Its not right that someone who worked their whole life and saved what they could will have to lose it all in the rest home, but the person laying beside them can be a piece of crap who never worked a day in their life and they get the same care but lose nothing to get it.

That’s what’s great about socialis(ahem) assistance. It’s your punishment for succeeding but it’s there in case you have run of bad luck.

I digress, welfare will always be taken advantage of.
 

MJ74

Old Mossy Horns
And they do get the exact same care.

Yep, unfortunately I've had a few family members have to finish up their life in those places.
I dont think its right that they lose everything when others dont have to pay a dime.
Like many others, I hope I drop dead before having to lay up in the nursing home. Your definitely not living just waiting to die.
 

woodmoose

Administrator
Staff member
Contributor
Its not right that someone who worked their whole life and saved what they could will have to lose it all in the rest home, but the person laying beside them can be a piece of crap who never worked a day in their life and they get the same care but lose nothing to get it.

Well thats the system in place,,,, thank your politicians
 

30/06

Twelve Pointer
Where does long term care insurance fall into the scheme of things. It’s not cheap and I’ve heard it only covers a few years of nursing home care. My in-laws have been trying to figure out how to handle this stage in their life. They looked into and signed up for one of these communities that takes care of you in your last stage of life with whatever care you need. Ended up being much, much more expensive than originally presented to them. They pulled out of the deal.
 

woodmoose

Administrator
Staff member
Contributor
Where does long term care insurance fall into the scheme of things. It’s not cheap and I’ve heard it only covers a few years of nursing home care. My in-laws have been trying to figure out how to handle this stage in their life. They looked into and signed up for one of these communities that takes care of you in your last stage of life with whatever care you need. Ended up being much, much more expensive than originally presented to them. They pulled out of the deal.


Long term care insurance is what people should get if they plan to use a nursing home or other long term care - just like you pay your own insurances for house, car, life, etc

as far as length of stay,,, most don't stay in one long (and yeah, I know, everyone has the exception),,,

nursing home stays.png


Results: The mean age of decedents was 83.3 ± 9.0; 59.1% were female, and 81.5% were white. Median and mean length of stay before death were 5 months (interquartile range 1-20) and 13.7 ± 18.4 months, respectively. Fifty-three percent died within 6 months of placement. Large differences in median length of stay were observed according to sex (men, 3 months vs women, 8 months) and net worth (highest quartile, 3 months vs lowest quartile, 9 months) (all P <.001). These differences persisted after adjustment for age, sex, marital status, net worth, geographic region, and diagnosed chronic conditions (cancer, hypertension, diabetes mellitus, lung disease, heart disease, and stroke).
 

Homebrewale

Old Mossy Horns

KTMan

Twelve Pointer
Contributor
I was never suggesting that you have to dip into your own pocket to pay for the nursing home. My comment was towards people who starting setting up estates at an early retirement age to move assets soon enough to avoid the 5 year look back so Medicaid can take over paying for the nursing home. I don't have any issue with families that don't have the means to pay for nursing homes use Medicare. It is with the families who are hiding the assets.

That said, I'm not sure if you know that NC is one of those states with filial responsibility laws. I don't like the law but I know it is there.
https://www.ncleg.gov/EnactedLegislation/Statutes/PDF/BySection/Chapter_14/GS_14-326.1.pdf
I don’t disagree with your thoughts but can’t agree with them either. It’s a catch 22 for me. I believe we should pay our own bills, but should also contribute to society. I had a hard time accepting my mom being denied certain care but told if she were on Medicaid it would not have been an issue. And do watch my dad worry about losing everything he ever worked and sacrificed to get. While someone whose lived off the system gets all they need.

Everyones level of wealth is a personal choice. I chose to bust my ass my whole life to have what I got. it might not be a lot to some but I do pretty well. I plan for my children to have everything I work so hard to have. I definitely paid my dues to society. So if God has plans for me to be in a nursing home my assets will be protected.

Like ZG stated, none of us plan to go there. But I won’t break my family if I do.
 

Zach's Grandpa

Old Mossy Horns
I've never talked to anyone that likes the way the system works because it forces people to do what they have to do in making sure that a loved one gets the care they need. Until you've been through it it's hard to understand just how defeated you feel and how overwhelming it is.
 
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