The vast majority of adults want to live out their lives at home, but aging-in-place goals take planning, help and money to balance the burdensome costs of both housing and long-term care. As many as 77% of adults 50 and older want to age in place in their homes, according to AARP, yet 70% of older adults will need some support to age in the home of their choice, said Samara Scheckler, a research associate at Harvard University’s Joint Center for Housing Studies.
Support could range from assistance with activities of daily living, like dressing and bathing, to more advanced care for someone with dementia or Alzheimer’s disease. The median cost of a home-care aide is $27 an hour, according to Genworth’s Cost of Care report, putting those services out of reach for many older adults. From the archives (September 2021): ‘I’m taking care of everybody, and now I want somebody to take care of me’: The high price of America’s care-worker crisis In addition to long-term-care costs, housing costs also often place a burden on older adults. In 2021, an all-time high of nearly 11.2 million older adults were “cost burdened,” meaning they spent more than 30% of their income on housing, according to the Joint Center for Housing Studies. Those who were cost burdened included a wide range of older adults, including renters, homeowners with mortgages, and households age 80 …
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Support could range from assistance with activities of daily living, like dressing and bathing, to more advanced care for someone with dementia or Alzheimer’s disease. The median cost of a home-care aide is $27 an hour, according to Genworth’s Cost of Care report, putting those services out of reach for many older adults. From the archives (September 2021): ‘I’m taking care of everybody, and now I want somebody to take care of me’: The high price of America’s care-worker crisis In addition to long-term-care costs, housing costs also often place a burden on older adults. In 2021, an all-time high of nearly 11.2 million older adults were “cost burdened,” meaning they spent more than 30% of their income on housing, according to the Joint Center for Housing Studies. Those who were cost burdened included a wide range of older adults, including renters, homeowners with mortgages, and households age 80 …nnDiscussion:nn” ai_name=”RocketNews AI: ” start_sentence=”Can I tell you more about this article?” text_input_placeholder=”Type ‘Yes'”]