Planning for Assisted Care

[JJReyes]

I think many retirees conceal their true income for fear there won't be enough for the remainder of their life. 

The value of the statement, "With $1,000 you can live like a king." is not the accuracy. It is some sort of reassurance that with this amount as a minimum, you can survive. If you have $3,000 to $5,000, a month, that would be terrific in a place like the Philippines. 

[bows00]

33 minutes ago, JJReyes said:

If you have $3,000 to $5,000, a month, that would be terrific in a place like the Philippines. 

Yes, but even with a decent income, this thread has reminded us of a significant concern if you are ALONE.  With the level of poverty in the Philippines, the odds are even higher that you will be taken advantage of, especially when your health has dilapidated. 

So I guess this is another good reason for a bachelor to seek a significant other or family.    

[mark ocallaghan]

so true, and she will most likely swindle you as well. love is lost on the older man when he is decrepid and of no use to her. so, have a will stating that she receives a monthly allowance while you are alive and very little on death. do it before you are too much in love the think straight. if you are loaded then it doesnt really matter but if only having 100k to your name, be careful.

 

[davewe]

1 hour ago, bows00 said:

Yes, but even with a decent income, this thread has reminded us of a significant concern if you are ALONE.  With the level of poverty in the Philippines, the odds are even higher that you will be taken advantage of, especially when your health has dilapidated. 

So I guess this is another good reason for a bachelor to seek a significant other or family.    

Being alone (or without people you can trust) is the key if you are incapacitated or in an end of life situation. A good friend of mine wrote a book about the deaths of her's and her husband's parents. Horrible! His mother was in her 90s and lasted in assisted living far longer than anticipated. Her children harassed her daily for money, things, to change the will, to change the executor, etc. Despite her money that readily allowed her to pay for 24-hour care, it must have been a terrible way to die.

Of course in the Philippines if you are alone and dying and your nurse is stealing your furniture it might not matter too much, since you're dying!

I would have to hope that the best scenario is to have a wife you love and trust and that she hires help. That would be my plan in the Philippines. But frankly the best way might be to get hit by a jeepney 

Edited July 7, 2016 by davewe

[bows00]

13 minutes ago, davewe said:

I would have to hope that the best scenario is to have a wife you love and trust and that she hires help. That would be my plan in the Philippines. But frankly the best way might be to get hit by a jeepney 

A jeepney?  Ouch, that might hurt.  I would prefer a brain aneurysm in my sleep. 

[davewe]

2 hours ago, bows00 said:

A jeepney?  Ouch, that might hurt.  I would prefer a brain aneurysm in my sleep. 

OK, that's a little dramatic. Something in my sleep sounds better. I only know that we won't own a gun in PI since I am confident my wife would use it on me 

[chris49]

20 hours ago, davewe said:

I would have to hope that the best scenario is to have a wife you love and trust and that she hires help. That would be my plan in the Philippines.

I think, given the ongoing value of our SS or pension checks, that might be an added incentive to give good care.

Without considering the cost of medical supplies, which could add up, I would say a graduate caregiver working full time in conjunction with a loving wife could do the job. 5-6 k salary, plus room and board plus all personal needs. Hiring 2 would double the cost. Depending on the situation, help from the children or perhaps other family members.

As for me, I hope not. But if it came to pass, that's better than a nursing home.

[davewe]

7 minutes ago, chris49 said:

I think, given the ongoing value of our SS or pension checks, that might be an added incentive to give good care.

Without considering the cost of medical supplies, which could add up, I would say a graduate caregiver working full time in conjunction with a loving wife could do the job. 5-6 k salary, plus room and board plus all personal needs. Hiring 2 would double the cost. Depending on the situation, help from the children or perhaps other family members.

As for me, I hope not. But if it came to pass, that's better than a nursing home.

A couple of years ago we went and saw a house for sale in Alcoy. A very nice place but what was interesting is that the patio was the size of the living room and faced the ocean with a spectacular overlooking view. It was explained to us that the owners were a mid 70s couple and the guy spent his days on the patio looking out at the vista. This sounded like a great way to get old and die, I thought.

So what happened? The wife died first and the old guy moved to Cebu, no doubt to look for a cute replacement/nurse 

Edited July 7, 2016 by davewe

[mogo51]

There is good and bad caregivers all over the world, whether Filipinos are any worse would be debatable.  Same stories in Australia.  My mother has Alzimers and has been in a nursing home for 30 plus years!  Whilst it is not ideal, it is the best option available.

From what I can see (which is limited I agree) Thais and Filipino women are in high demand here as care givers.  They seem to show consideration and attention to the care receiver.  One thing I am certain of, they would get a better deal than from an Aussie care giver, for a lot less cost here.

[mogo51]

8 hours ago, JJReyes said:

I think many retirees conceal their true income for fear there won't be enough for the remainder of their life. 

The value of the statement, "With $1,000 you can live like a king." is not the accuracy. It is some sort of reassurance that with this amount as a minimum, you can survive. If you have $3,000 to $5,000, a month, that would be terrific in a place like the Philippines. 

There is good and bad caregivers all over the world, whether Filipinos are any worse would be debatable.  Same stories in Australia.  My mother has Alzimers and has been in a nursing home for 30 plus years!  Whilst it is not ideal, it is the best option available.

From what I can see (which is limited I agree) Thais and Filipino women are in high demand here as care givers.  They seem to show consideration and attention to the care receiver.  One thing I am certain of, they would get a better deal than from an Aussie care giver, for a lot less cost here.

 

There is no way you can 'live like a king' in a main city in Thailand, in fact, I would think it would be a pretty miserable life.  In the provinces, maybe but again it would be rather miserable I would suggest. 

I live on my pension here and a small subsidy from a small super fund.  Whilst we live ok, it is far from 'royalty' O cam assure you.  I have to budget carefully to get through each month.  Always some unexpected cost arises that strains the budget.