I spoke to my father yesterday and curiously asked him about his thoughts on assisted living facilities. “Absolutely depressing!“, he said. I couldn’t agree more that assisted living programs are depressing given it reminds us everyday about our mortality.
Who wouldn’t want to stay put in a home they’ve lived in for years instead? I know I would. Home is a special place that makes us feel comfortable and warm. Ideally, you own your home outright in retirement and no longer have payments. However, this is a topic for another post.
We can only hope that we remain healthy for the rest of our lives, but we’ll eventually need some help thanks to injuries or illnesses. Some of us will have the financial strength to comfortably pay for our healthcare in retirement. Others might have wealthy children to rely on. But what if you do not want to burden anybody, and don’t have that much money to last?
Buying long-term care could be an ideal solution for your retirement years.