Thirty Dollars, Hundred Thousand Dollars, Million Dollars discussed on Assets and Aging w Bob Scrivano

Automatic TRANSCRIPT

Area this week to help this family if if the if you need help now then I suggest you call now and get in to see me because the days of just waiting for it to happen our over by the way the hospital wanted to send my clients parent home to her she's on a Walker because she's getting ready for hip surgery I don't make these things up folks they happen every day so let's talk about back to basics your what what I'm going to pick on dad we were losing dad dad is starting to lose and he's becoming that can happen to anybody I'm just gonna use that you have three choices you only have three choices dad can stay home and you can pay for home care at fifteen thousand a month dad can go to assist the living this is the living is sixty eight thousand a month or dead could wind up in a nursing home if you can find a bad because nursing homes will lie to you and tell you they don't have any beds when in fact they do what we have for ten to twelve thousand a month does your choices there are any other choices those are at there's not there's there's a BNC now what happens what I mean what happened to Bob well dad needs home care number I I said I'm picking on data could be mama could be Graham all don't be a literalist fear my point is somebody is ill somebody is frail somebody is losing so the issue is and this is always the issue what we do what we're gonna keep that at home we promise Daddy and mommy though we would keep them at home okay is twelve to fifteen thousand dollars a month for round the clock no it can't be that much bongo prices it's twenty five to thirty dollars an hour let me see I have my little calculator my calculator out so he knows about making up these numbers so it's thirty dollars an hour thirty dollars an hour hi my name's twelve hi my name's thirty days in a month equals fourteen thousand dollars won't now I don't know about you but that's a lot of money how many of you have an extra fourteen thousand float around to keep that at home well mom's going to take care of willful let me know how that works your eighty year old mother is going to take care of for eighty two year old husband well I'm gonna quit work and I'm going to take care well okay so you're going to do it for free but you're not working anymore so you're losing pension you're losing social security hours and you're losing sixty thousand dollars a year in salary so how's that going to work out everybody wants to stay home nobody actually thinks through what that means well I just told you what it means it means somebody somebody somebody somewhere is going to pay a lot of money every month now how do you feel statistic from diagnosis of Alzheimer's till death is an average of eight years notice I said diagnosis of Alzheimer's not on set so you're gonna take care data home at twelve thousand a month let's just say a hundred thousand dollars a year for eight years that's eight hundred thousand dollars and you're gonna get that where where what what jar do you keep that in if you're like me I have a change of all of all of jar and you know all my wife and myself we put our pocket change in there and and one once every six months it fills up a big Ole jar and we take it down and go put it through the coin counter at the bank and put it in the back now helping you got you got a coin jar with a hundred thousand dollars in what if he doesn't still more to go through sister living okay assisted living let's six thousand what that seventy thousand dollars year times four years is over a quarter of a million dollars what do you have a change jar with a quarter of a million dollars in a.

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