I have an aunt that does all that at a care home in small-town east texas, I think she gets paid like 9 bucks an hour.
60% death tax over 4 million. Let the oldies take care of themselves. If they can't, let the youngins liquidate their savings so they can buy a house Fin.
I’m getting old enough to see the dark at the end of the tunnel. I’m okay if they take me out to the pasture and pop a cap in my head.
If you think this is bad have you ever stopped and considered how much of your tax dollars go to pay for the elderly? A hint it’s far more than anything else. Medicare and Social Security are the obvious ones but 2/3 of Medicaid dollars goes to Seniors because Medicare won’t cover nursing home care. There is an entire legal industry dedicated to divesting elder assets so Seniors will qualify. Not to mention all the rest of what people consider welfare that Seniors are receiving like Section 8 housing and food stamps. Really what it comes down to is the American culture of everyone for themselves, kick out the kids at 18, and move far away from each other. Other cultures have multigenerational households where there is support for childcare and elder care saving everyone money and providing a stronger village to raise a child and dignity and respect for our elders. Good luck shifting this country to see passed whatever the next FB meme however.
If you want to get policy geeky about it, the infrastructure bill is supposed to help this problem somewhat. https://homehealthcarenews.com/2021...-still-includes-150-billion-for-in-home-care/ Mainly, Phillyrocket is right.
If you're worried about burning through your nest egg that you want to pass on to your kids get long-term care insurance.
First step in this plan should be paying the important people who do this job more than $9 an hour so there isn't a constant shortage of qualified direct care workers.
Yes - but surely you must know that your family is never going to say "Well, it's time to just let him die." And just because you're not able to wipe your ass doesn't mean death is ready to take you. I'm sure you don't WANT to live through that, but you should try to be as prepared as possible for that to happen. Saving a ton of money for retirement is extremely important. It's also important for our government to NOT try to reduce our ability to save/invest for retirement or for our government to tax us heavier on our retirement funds.
I don't have kids so I hope my nieces take pity on me If I get to that point where I cant take care of myself then I hope someone takes me behind the barn and puts me out of my misery.
another reason I moved out of Texas to one of the blue states where compassionate end of life is legal. (I believe Montana is the only Red State where compassionate end of life care is legal) Physician-assisted death or "medical aid in dying" is legal in eleven jurisdictions: California, Colorado, District of Columbia, Hawaii, Montana, Maine, New Jersey, New Mexico, Oregon, Vermont, and Washington.
I've met so many older white folk scared shitless about retirement because of the the aspect of long term care. Their children couldn't care less for them and that's a shame but obviously part of "American rugged individualism". It's a culture I will never understand but whatevs.
This. I'm guessing the OP doesn't know about LTC insurance. It is expensive, but there are investment options that provide LTC instead of interest.
It's always funny thinking about boomers who did nothing to deserve their wealth other than be born after WW2. Must be nice to feel so entitled and yet so judgmental of their children.
