This post was brought to you by Genworth as part of a campaign by the Brandfluential team. All opinions are my own.
GENWORTH Financial did a “2013 Annual Cost of Care” report, showing the average cost of services nationwide, that a lot of us will need when we are retired. This article from Fox Business breaks down some of these numbers for us:
- Homemaker services (hands-off non-medical care like cooking and running errands): $18/hr.
- Home health aides (hands-on non-medical care like bathing and dressing): $19/hr.
- Adult daycare (social, non-medical, community-based setting for some part of the day): $65/daily
- Assisted living facility (single occupancy, 1 bedroom, hands-on medical care): $3,450/monthly
- Nursing facility (semi-private room, 24-hr care): $207/daily
- Nursing facility (private room, 24-hour care) $230/daily
While having a quality facility or quality people coming into your home is EXTREMELY important, many of us can’t imagine paying that sort of money right now! I’ve always wondered how older people afford the nicer facilities (living in San Diego, I’ve seen some facilities right on the beach, in the nicest areas in town, etc. I can’t even fathom what that must cost!), but even just a nice, standard facility seems to cost a lot. And what happens if you AND your spouse have to be in Long Term Care at the same time? My husband is 9 years older than I am so I am hoping that won’t be the case for us but does that mean the money will be all gone for me, when I really need the care?
GENWORTH Financial can help you take those savings, by helping you make a plan that is right for you and even helping you to reach your retirement financial goal.
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