Most people avoid thinking about leaving their home someday and moving into assisted living. But, this is a foreseeable reality for many of us and we should be planning for it financially.
Here are some interesting facts from the October 2017 Consumer Reports article, “Who Will Care for You?”
According to Genworth,1 a source relied upon by Consumer Reports in tracking care costs, the figures for 2017 and the median cost of care in Michigan are as follows:
ASSISTED LIVING - Private One-Bedroom Room - $42,000/Year
NURSING HOME - Semi-Private Room - $95,630/Year
NURSING HOME - Private Room - $103,295/Year
