What to Tell My Dad about Nursing Home Expenses

My step-mom was nearing the end of her ability to remain at home, and my dad was wearing out being a caretaker. They’d managed, against all odds, to find a good in-home PCA for several days a week, and my sister took one day a week, but Mom had started to do things like get up in the middle of the night to cook a rasher of bacon “for the kids who are visiting” (when […]

What is a HECM?

Anyone who plans to stay in their house into old age should consider getting a Home Equity Conversion Mortgage. If you already know you are going to need to tap the equity of your house to make ends meet, read more about the new Reverse Mortgages (renamed HECMs) here: https://www.nerdwallet.com/blog/mortgages/reverse-… http://www.bankrate.com/finance/retirement/basics-… Conversely, even if your house is paid off, anyone who is implicitly considering their home equity as a source of funds in case of […]

What is Long-Term Care Insurance?

What is long-term care insurance and does it make sense for you? Long-term care insurance (LTCI) typically picks up the tab for very expensive illnesses that leave you unable to take care of your own “activities of daily living”. You generally need to be unable to care for yourself for quite a while before they’ll step in – a typical elimination period is 90 days. It helps with caregiving for dementia patients, or people who […]