Thinking Long-Term
Posted on | July 17, 2007 |
My parents are part of the Baby Boomer generation and many of the first members of the Baby Boomer generation are now turning 60. If you have an older parent, you’ve probably thought about who’s going to take care of them when they no longer can care for themselves.
While you’ve thought about long-term care, it’s harder to put planning into action. But you might want to start today…
According to Genworth Financial’s 2007 Cost of Care Survey, the average annual cost of nursing home care is $74,806.
$74,806. For one year of care.
My parents are a ways off from long-term care needs [thank goodness], but in 2025, I’m sure the average annual costs won’t be any cheaper!
If you’re thinking about long-term care planning or talking to a loved one about options, here are a few helpful resources:
- Be Prepared - Senior Living
- Administration on Aging - Elders and Families
- American Association of Homes and Services for the Aging (AAHSA)
- Children of Aging Parents
- Additional Links
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