That's a great point we should have addressed. It's true that, while we tend to spend less as we get older, at some point most will be faced with that moment when you need additional resources for day to day living. Some opt for senior living situations. Folks entering those places average 55 years old. And those places average between $1500 and $4000 per month. Assisted living facilities, on the other hand, range on average from $3500 to $11,000 per month. The average age of people entering those places is 84. And the average "stay" in assisted living is 22months. So it's usually less than two years that folks are paying for the additional services of AL. An interesting tidbit we found in our research is that people who join senior living facilities/communities tend to live longer than those who don't. Stats show they live 7-10 years longer in fact.
You are doing great! We will are coming along for the ride. 🎉
Assisted living, or simply a retirement facility, is massively expensive. Can easily be over $10,000 a month.
That's a great point we should have addressed. It's true that, while we tend to spend less as we get older, at some point most will be faced with that moment when you need additional resources for day to day living. Some opt for senior living situations. Folks entering those places average 55 years old. And those places average between $1500 and $4000 per month. Assisted living facilities, on the other hand, range on average from $3500 to $11,000 per month. The average age of people entering those places is 84. And the average "stay" in assisted living is 22months. So it's usually less than two years that folks are paying for the additional services of AL. An interesting tidbit we found in our research is that people who join senior living facilities/communities tend to live longer than those who don't. Stats show they live 7-10 years longer in fact.