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 NPR series on multi-generational households 
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Joined: Fri Aug 11, 2006 1:46 pm
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Location: SF Bay Area (Northern CA)
Post NPR series on multi-generational households
NPR (National Public Radio) has started a series on multigenerational households called "Family Matters." One in every six US families lives in a multigenerational household, with three or more generations living under one roof. This is a huge increase over the last several decades.

On the "Family Matters" series, three families are profiled as NPR explores the financial and emotional costs of multigenerational households. Segments from this series will air on Tuesdays. This webpage has info on the two segments aired thus far -- last Tuesday's intro to the three families and the concept of multigenerational households, and today's segment:

http://www.npr.org/series/150002308/family-matters

In today's (4/24/12) 7-minute segment, you can hear one family member making a choice to place the father in adult day care program while another family member makes a choice to quit her job to care for her grandmother fulltime at home. Listen here:

http://www.npr.org/player/v2/mediaPlaye ... =151234757


Tue Apr 24, 2012 4:31 pm
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Joined: Fri Apr 06, 2012 10:13 pm
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Post Re: NPR series on multi-generational households
I heard the segment this morning. Do you ever notice how until something is affecting you personally, you don't register it? I'm sure I've heard stories like this before, but it didn't hit home until recently.

One thing that really struck me was the cost of adult day care. We did briefly consider it for my mom, but the cost would have been prohibitive. Not that it's not prohibitively expensive to place a LO in an ALF or other facility.

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Melissa, caring long distance for her mom (70) diagnosed with LBD in 2011, symptoms arrived with a bang in 2012, currently living in memory care facility.


Tue Apr 24, 2012 5:45 pm
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Joined: Fri Aug 11, 2006 1:46 pm
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Location: SF Bay Area (Northern CA)
Post Re: NPR series on multi-generational households
The most surprising thing to me about all of this is how few people save sufficiently for their "old age," retirement or long-term care needs.


Tue Apr 24, 2012 8:30 pm
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Joined: Fri Jan 15, 2010 9:33 pm
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Location: Vermont
Post Re: NPR series on multi-generational households
I'll second that! Seems like many people spend what they make, even those who make very high salaries. It's very short-sighted and becomes such a burden to them and others when they get older and need to have some retirement income, savings, insurance, or whatever. And, for many, they cannot afford to retire. Scary.

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Lynn, daughter of 89 year old dad dx with possiblity of LBD, CBD, PSP, FTD, ALS, Vascular Dementia, AD, etc., died Nov. 30, 2010 after living in ALF for 18 months.


Tue Apr 24, 2012 9:22 pm
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Joined: Wed Dec 30, 2009 1:46 pm
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Location: WA
Post Re: NPR series on multi-generational households
robin wrote:
The most surprising thing to me about all of this is how few people save sufficiently for their "old age," retirement or long-term care needs.
Since the cost of the average nursing home [in our area] is $8K/month, that is $96K/year. The average time someone spends in a nursing home is 3 years so you'd have to have $288K. Oh, and that's not counting medications or supplies, which are billed separately.

_________________
Pat [68] married to Derek [84] for 38 years; husband dx PDD/LBD 2005, probably began 2002 or earlier; late stage and in a SNF as of January 2011. Hospitalized 11/2/2013 and discharged to home Hospice. Passed away at home on 11/9/2013.


Tue Apr 24, 2012 10:17 pm
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Joined: Fri Dec 31, 2010 3:07 pm
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Location: Minnesota
Post Re: NPR series on multi-generational households
Pat, and that is $288K left over after you have already been living on your pension and savings for, say, a decade.

Dr. Schenk said it well, I think, when he told us that medical science has gotten too far ahead of social science. We know how to extend life expectancy for the majority of our population, but we don't have the social, political, and civic structures in place to deal with that aging population.

(This was after I'd been to an elder law attorney and I was moaning about what a hodge podge our elder laws were -- certainly without any over arching philosophy or principles.)

It wasn't that long ago that many people didn't even live to retirement age, let alone have to save up to support themselves for 30 years after retirement.

Personally, I'm not surprised at all that so many of us are caught unprepared.

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Jeanne, 68 cared for husband Coy, 86. RBD for 30+ years; LDB since 2003, Coy at home, in early stage, until death in 2012


Tue Apr 24, 2012 10:49 pm
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Joined: Fri Jan 15, 2010 9:33 pm
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Location: Vermont
Post Re: NPR series on multi-generational households
All good points, and reasons that younger folks should be investigating LTC insurance NOW! I think we will probably get the type that covers a couple, but only the first one who needs the LTC insurance will reap the benefits and the other will be self-insured. That makes sense for some people but not for all of us. We also try to drill this stuff into our kids so they will save for their futures; both of them are doing that and they are in their 20's, one still in college. Financial planning should be part of all HS and college curricula, IMHO.
The point that social science hasn't kept up with medical "advances" is so poignant.

_________________
Lynn, daughter of 89 year old dad dx with possiblity of LBD, CBD, PSP, FTD, ALS, Vascular Dementia, AD, etc., died Nov. 30, 2010 after living in ALF for 18 months.


Wed Apr 25, 2012 9:17 am
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Joined: Fri Aug 11, 2006 1:46 pm
Posts: 4811
Location: SF Bay Area (Northern CA)
Post Re: NPR series on multi-generational households
Better hurry to get LTC insurance as lots of the big providers are stopping selling these products.


Wed Apr 25, 2012 12:30 pm
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