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The stat I am recalling is specific to long term care facilities, but I need to go find it. Medicare only covers 100 days of LTC, so we are talking a subset of seniors in multi-year nursing home situations where the only options are privately paid (or via LTC insurance policy) or paid by Medicaid.
There is theoretically a large pool of Medicaid covered LTC nursing home patients, the housing room/board provider for whom would receive some monthly amount from Medicaid just as an example.
I envision a summer camp setup for seniors wherein you have very simple accommodations in a beautiful outdoorsy (cheap) location, with central dining/entertainment/nursing/ambulance services for the community, etc... Could build that for fuck-cheap, the giant unknown here is how hard it is to be certified by the state as as a facility that can accept medicaid. Also, does medicaid pay on time? May need to mix in some private clients for cashflow risk.
Regardless, we are still talking about cabins and/or tiny homes in the boonies rented out for multiple thousands$$$ /month each. Sounds good to me
Number of seniors is expected to double over next 40 years, with costs of care/housing/food skyrocketing.
There will be millions of able-bodied people in their 70s who will need a simple place to live with their limited budget.
Seniors who do not have a medical referral to a nursing facility?
you are talking about the $1200 to 2000 type SSI range?
Ugh, so shared or small rooms for 500-800?
Could they use their SNAP cards in your mess hall perhaps?
Ugh,
2019 $1 million in cash to invest. What's your plan?
Easy Peasey.
Pay off mortgage,
pay down kids' student loans.
For most people out there, who are the working Joes and not investment experts, the best thing they can do with extra funds is pay off all credit cards and similar loans, then pay down the mortgage.
B.A.C.A.H. saysEasy Peasey.
Pay off mortgage,
Why, you can make more investing it than tying it up, not liquid, in a house.
B.A.C.A.H. sayspay down kids' student loans.
Dumb, that an even bigger waste of money with less of a return. It's THEIR college, they pay for it, not you.
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