“The population of American seniors is expected to double in size within the next 25 years, according to the National Institute on Aging (NIA) and the U.S. Census Bureau. As our aging population continues to grow, so does the demand for both in-home care and residential care facilities. In fact, U.S. News & World Report recently projected that for the next 20 years, about 10,000 baby boomers will turn 65 each day. This means that elder care and retirement planning are crucial to help support an aging population.”
Knowing your options and long / short terms costs provide a lot of clarity and allows you and your family to put the right financial plan in place to provide you with the proper elder care. With skyrocketing costs of living and lack of senior assets, Home Care is becoming the most affordable and all around best option for those needing non-medical or light skilled nursing care. A Place for Mom has provided a very informative article about the comparison costs between In-Home Care, Assisted Living, and Nursing Homes. If you are in the process of choosing any one of these options free to read the full article here.