Retirement money worries

[Queen K]

Yes, I believe a house is taxed differently if you die before it is sold as opposed to selling it while it's your main address.

Also, something I've talked about before but may as well here too, is that a lot of seniors have no idea how long it takes to down size a house. They underestimate the actual time needed to do. And who gets to do it? The "kids" often kids who have to come from out out town to do it.

Add up time off of work. Having to use up vacation days to do it. And maybe the only time to realistically downsize isn't under ideal weather conditions. Do you really want to have to do it in December or January? Add up the cost a house that has to sit empty and all the insurance issues which go with it. Also an empty house isn't a free house. Meaning say mom or dad move into any type of home, be it government care home or independent living resort, and add the cost of keeping the house to the price of the rent.

Insurance, hook ups, electrical, heat so as not freeze the pipes or allow mould to grow. Security. Property taxes. To name a few.

Seriously, downsizing early and just letting go of stuff is the best. I have a theory that we are seeing thrift stores growing to huge proportions ie ReStore and Salvation Army because people are just downsizing and not trying to eke out the cash. I saw some families in a carehome just call the Salvation Army and have them clean out moms independent living care home room of all the antiques because it's more cost effective to do so on a weekend then to find the right buyer. If the antique furniture had been sold while mom was alive or still living there, the proceeds could have bought a lot of bingo games or sundries.

[LANDM]

quote="LANDM"]More of the "hard math" you have referred to?
Where in BC is this happening?
Just one place.......the fear mongering extreme rhetoric is getting a bit silly[/quote

Partner is a care aid. I know how much it costs to stay at the Resort Retirement homes and Non-Profit homes. If you want to end up at Cottonwood it's a little cheaper than what I quoted.

Many of the care aid contracts are not being renewed and instead being replaced with TFW's. This is why many care aids are getting out of the industry and retraining before they get replaced. There is a thread somewhere on this forum in which it was discussed, lots of people chimed in to say that care aids only deserve minimum wage. Maybe you can find it!

http://www.bcgeu.ca/130_health_care_wor ... ing_Valley

Referencing another thread? Following around the forum to discredit me is your new past time I see. Sour grapes.

Nope, simply asking as I was going through this thread and noticing an interesting pattern of inaccuracy. Partial truth and then finishing with made-up dramatic rhetoric.

So, I have gone through the whole process of the aging/dying parent thing recently. Had a parent in a full pay private full care and it was expensive. Within your range but that was one of two beds in the entire facility that were designated full-pay-private. All others were income dependent and there were many folks in there paying around $1200/mo for the same room/service. Two years ago is my data, not today.

Now, for the $5.50/hr part that you didn't address, other than referencing minimum wage......is our minimum wage now down to $5.50/hr? Did I miss that legislation? Or is it "hard math"?

[Queen K]

What I'm seeing here is discussing three levels of living standard as if they are the same.

Independent living (of which the Okanagan is flooded with ads for all kinds of them).
Full pay private full care
Income dependent funded beds (facilities).

Every single independent living retirement resort style has a range of rooms, designed for a certain lifestyle expectations.
Some have two bedrooms, some have adjoining full rooms, some are tiny capsules and some are like bed sitting rooms.
All price/month levels, vary from building to building. Because once you leave your room, everything is open to you anyways, regardless of room style.

They can go from 1750/month and up to and I have seen, $3,500/month, and up.

Some offer levels of care within the same building, but that's a different

[Queen K]

Partner is a care aid. I know how much it costs to stay at the Resort Retirement homes and Non-Profit homes. If you want to end up at Cottonwood it's a little cheaper than what I quoted.

Sour grapes.

Cost for a couple in one of those "resort carehomes" is $5701.00 per month.

I can do a breakdown, believe it or not, $70 per month for lunches and $160 for suppers can be subtracted from that figure if you want to bring food in and do that stuff yourself. There isn't a parking space per month cost associated with that bill, but if they had a vehicle, it would be higher by quite a bit.

A friend of mine knows these people, I don't even know who they are or what resort this is in. But all is published with permission.

No wonder articles like this are being published today, don't count on inheritances!

http://www.castanet.net/edition/news-st ... htm#159674

[Donald G]

Atomoa wrote:
Partner is a care aid. I know how much it costs to stay at the Resort Retirement homes and Non-Profit homes. If you want to end up at Cottonwood it's a little cheaper than what I quoted.

Sour grapes.

Unread postby Queen K » Today, 7:26 am

Cost for a couple in one of those "resort carehomes" is $5701.00 per month.

I can do a breakdown, believe it or not, $70 per month for lunches and $160 for suppers can be subtracted from that figure if you want to bring food in and do that stuff yourself. There isn't a parking space per month cost associated with that bill, but if they had a vehicle, it would be higher by quite a bit.

A friend of mine knows these people, I don't even know who they are or what resort this is in. But all is published with permission.

No wonder articles like this are being published today, don't count on inheritances!

There may be exceptions but I believe that you will find that the price paid by the "client" is dependent on the level of care required.

Under a Provincial Government Program ALL clients are guaranteed a place in a home depending on the availability of rooms and beds available. The costs that the client pays as of three years ago was a MAXIMUM of eighty percent of their retirement income with the remainder of the monthly costs being picked up by the province.

There are other systems whereby seniors can be kept at home and the province will pay for a negotiated number of relief care aid hours per month,

[Queen K]

In independent living resort style places there is no level of care. It's room and board, with housekeeping and enriched living like seminars, bingo, special events, and such. But NO level of care. They pay for a level of care as an extra according to their income and over and above their rent.

Again, these places are not licensed to provide care other to call 9-1-1 on behalf of the resident.

Therefore, they charge what the MARKET WILL BEAR. If they can charge $5000/month, they do. Because someone keeps paying it. Oh and that cost does not include tenant insurance, which all residents have to buy through their insurer. That's because they live there through choice, not placed. Unlike a facility, where one is placed through a committee process based on need.

See the difference? I can, most can. Some can't.

Quite often these are CONFUSED with residential care. They are confused with residential care because they see people in scrub uniforms assisting clients and make the erroneous conclusion that because the person in the scrub uniform is in the building, therefore that person must be employed by the managers of that building.

No.

That person is employed by the resident privately, either through a private care agency or by Interior Health.

But is NOT employed by the independent living resort.

If a resident reaches the point where they need 24/7 care, or close to it, action is taken by the family to move mom or dad. Often with assistance from others, like RNs and committees. But that gets complicated to explain.

But it's not the resort style independent living place which does it. Again, I post this over and over on these boards, but here goes again. Facilities and independent living resort style places are often confused. Over and over they are confused. I hear it all the time. Even a freaking city planning employee didn't have them straight. I had to explain to him what his city had on the corner of Harvey and Ethel. NOT a facility buddy. Oh did your friend say they saw care aids there all the time? Yes? That's right. And not ONE of those people are employed by the independent living managers. Those people are privately employed by the resident themselves. Hard to explain right? Only it's true and try to keep it straight, k?

[Pat-Taporter]

[W105]

I was talking with a woman who's husband has Parkinson's disease, (both are retired, both receive CPP & SS and she receives an extra $600 per mth from a pension plan...her husband's disease is progressing very quickly, to the point of where she asked their adult son to move in with them so she can have some help with the caring of her husband/father..

she is looking into the Provincial Government Program to put him into a care home...she was told that they will take 80% of BOTH their retirement incomes for the cost of this..which will leave her with very little to live off of every mth....this is so distressing to her that they have talked about actually divorcing so she can at least keep her income..(they have been married for 45 yrs) she then asked if maybe a nurse or relief care could come to their home instead, she was told that would cost them $98 per day...

[Bsuds]

she is looking into the Provincial Government Program to put him into a care home...she was told that they will take 80% of BOTH their retirement incomes for the cost of this..which will leave her with very little to live off of every mth.....

Get her to talk with someone else, I don't think that's true.

Look here, http://www2.gov.bc.ca/gov/content/healt ... s-for-care

[W105]

she said that is what they told her...I too didn't believe this, I told her someone must have told her some wrong info, but she told me that they told her it was 80% of both of their incomes because they are married ???

this cannot be true....right ?????

[dieseluphammerdown]

she said that is what they told her...I too didn't believe this, I told her someone must have told her some wrong info, but she told me that they told her it was 80% of both of their incomes because they are married ???

this cannot be true....right ?????

Well I know for 1 person this is true.
My mother pays 80% which includes meals.
A little steep but she gets good care, and being that she is in her 90's she usually has money left at the end of each month.
Us kids each take turns doing some shopping for her so she has her own food inside her suite, mostly breakfast stuff as she doesn't like going down to the cafeteria area in the mornings.
She'd sooner watch the news and read the paper.

[LANDM]

she said that is what they told her...I too didn't believe this, I told her someone must have told her some wrong info, but she told me that they told her it was 80% of both of their incomes because they are married ???

this cannot be true....right ?????

It is "up to 80% subject to minimums and maximums"......if both are requiring care, of course it would apply to each of them. There is no "2 for 1 " deal.