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|User Info||Investment: Long Boiled Rope Futures; entered at 2020-01-12 20:53:07|
I'm asked to look into the assisted living thing by some army buddies. Buddies who were in the army. Not like I was in there with them. But they got access to VA business loans burning holes in their pockets already. |
The whole buzz on this industry is based on the observation that the boomers are getting old and THEY GOT MONEY.
I got the thing costed out pretty close. I got a grip on what various levels of facility cost. Getting down to the nitty gritty of the regulatory and admin burdens (binders the size of old school phone books), all that jazz. Caregivers themselves are the greatest expense besides the property.
Median price (although how you calculate median with the top end essentially being INFINITY) is tricky but it's often quoted as $3.5k/month. There's not much below $2k/month. Think of that as the "ala carte" version where a lot of things are extra.
Still dialing in on who or how this is paid for. Savings, investments, liquidation of assets, children, pensions, medicaid, insurance...meanwhile caregivers I talk to say some of their clients can only afford in-home visitation, not a facility.
There's something wrong in this picture. This should not be happening.