August 2015. Of course, the ideal situation is that anyone aging remains able to
cope with the responsibilities of home ownership. He or she or they
will be able to take care of themselves and live safely where they are.Wise
Older Americans are unlikely to remain healthy enough (and sufficiently
independent) to go it alone indefinitely. Moving in with family may be
the only option, because assisted living facilities average $3,261 to
$6,390 per month.
These numbers are a bit frightening. The closer you get to being 50
years and older, the higher the probability is that the work you now do
will be done by someone younger. You will find yourself with a serious
reduction of income, and you will likely have a need for health care
you didn't plan for.
The fact is that adult children probably won't be able to ride to the
financial rescue for their parents: They have their own bills to pay
for, the mortgage and they have to save for their own retirement.
