It sucks growing old

[bbflatt]

My mother has LTC insurance, but a few years ago was given the option to convert it to a paid up policy (with somewhat limited benefits) rather than continue paying an annual premium. She had been paying premiums for about 20 years. We looked at the difference in benefits between the paid up policy and the continuing premium option and decided the paid up policy was good enough, so we opted for that.

She's 90 now and still hasn't needed the policy, so I think we made a good choice. You might look to see if there's an option like that for your relative.

[MN-Skeptic]

I think I may offer to look at their financial situation this fall. While my brother has a great income, they've paid for all four daughters to attend a private college. Moreover, they trusted a "financial advisor," who was a neighbor, to help them with retirement investing which ended up with things like deferred annuities. They need to have a realistic idea of what retirement income will look like for them.

(I've funded Roth IRAs for their daughters and have given them basic investment advice so that they don't make the same mistakes that their parents have. I'm a strong proponent of low expense ratio total market index funds.)

[jcolvin2]

My mother has LTC insurance, but a few years ago was given the option to convert it to a paid up policy (with somewhat limited benefits) rather than continue paying an annual premium. She had been paying premiums for about 20 years. We looked at the difference in benefits between the paid up policy and the continuing premium option and decided the paid up policy was good enough, so we opted for that.

She's 90 now and still hasn't needed the policy, so I think we made a good choice. You might look to see if there's an option like that for your relative.

I agree that It is important to compare the premiums with the benefits. Given how much assisted living costs on a monthly basis, I would be reluctant to drop my LTC coverage. I think I am paying about $7k/year for mine, a fraction of which is tax deductible (though that will go up when I turn 60).

My guess is that one of the long term effects of Covid-19 may be a less healthy population that needs more long term care than prior generations.

[p0rtia]

I am terrified of a disabling illness, such as dementia or a stroke. Among relatives and acquaintances the financial and emotional stress when a loved one is hospitalized/rehabbed/nursed and tended is unspeakable. Right now an elderly cousin-in-law has survived a near fatal stroke but six months later he's still completely paralyzed and unable to communicate and the bills are bankrupting his loving family. I am leaving instructions that if I should be in that sort of condition someone is authorized is put a pillow over my face, but I doubt anyone would do it.

You're a good man, Fort.

[Foggy]

Yeah, I had "the talk" with ol' Wifehorn again this week in response to this thread, and we agreed that our advance directives and wills are sufficient. We fully understand that a long illness could basically drain our estate down to nothing, but that can happen to anyone who isn't a kajillionaire. We've done what we can to minimize the risks.

But dig it: Our sons are smart, honest, hardworking, fine young men. They'll both have college degrees before the money runs out, even if we passed mañana. Nobody can make them pay our medical bills, and we won't allow it.

So they won't need to inherit a big estate. They're going to be successful anyway. They're prepared for whatever comes down the pike, and they're still strong brothers who have each other's backs. That was the plan from Day One, and it has been fully implemented.

Thus, ol' Wifehorn and I are not going to stress about it.

[Phoenix520]

Lani, you need a new agent.

[Lani]

Lani, you need a new agent.

I got a new one! She's called the agent about the unit I wanted. Asked him if he would accept my offer as a back up in case the current sale doesn't go through.

Thursday, we're meeting in person after I'm done at the hospital, walk around the neighborhood I like, etc.

[Kriselda Gray]

Lani, you need a new agent.

I got a new one! She's called the agent about the unit I wanted. Asked him if he would accept my offer as a back up in case the current sale doesn't go through.

Thursday, we're meeting in person after I'm done at the hospital, walk around the neighborhood I like, etc.

Good! Glad to hear it!! Best of luck to you

[Volkonski]

One of our relatives by a daughter's marriage posted this today-

Getting old is not for sissies. I twisted my bad ankle as I started up the stairs. In order to protect my ankle I went down with a twist of my back, knee, right ankle and bad wrist, while managing to land with my bad shoulder on the handrail.

No serious new damage.

[Phoenix520]

I SPRAINED MY JAW. Yes, it’s a thing you can do! Who knew?

I was eating the world’s best ham and butter baguette Tuesday when I… actually I have NO IDEA how it happened. One minute I was biting down on a crusty bit, the next I was in agony and couldn’t close my mouth. Doc has me icing it.

I have the stupidest injuries.

[AndyinPA]

Ouch!

[Tiredretiredlawyer]

[Estiveo]

Estiveoshot_20220426_083540.jpg

[Kriselda Gray]

I SPRAINED MY JAW. Yes, it’s a thing you can do! Who knew?

I was eating the world’s best ham and butter baguette Tuesday when I… actually I have NO IDEA how it happened. One minute I was biting down on a crusty bit, the next I was in agony and couldn’t close my mouth. Doc has me icing it.

I have the stupidest injuries.

Get better soon!!

[Tiredretiredlawyer]

Not trying to compete, Phoenix 520, but I have bruised/cracked my tailbone twice - once was the week before I went to Iceland to ride on the Icelandic horses. The tolt truly is a marvelous gait.

[Phoenix520]

Trot, trot, trot
Trot my Icelandic pony trot.

Ouch. You rode anyway, didn’t you? Brave girl.

[Tiredretiredlawyer]

Blog post from a geriatrician Hubby found on the intertoobs when he first began caring for his mom.

https://betterhealthwhileaging.net/

Also, her YouTube on Covid and aging adults.

[John Thomas8]

60 years old, tonight is the first in 21 years I'm sitting in an ER, this time with chest pains

[Phoenix520]

Do what the nurses tell you JT. Please be ok…

[Estiveo]

keep us updated as you can

[p0rtia]

60 years old, tonight is the first in 21 years I'm sitting in an ER, this time with chest pains

Fuck.

[AndyinPA]

[MsDaisy]

[Volkonski]

[Frater I*I]

Get well soon JT8