Nursing homes should be growing an an incredible rate, no? Think about it, the number of people eligible to file for Medicare is growing by 65,000 A DAY in the US. Shouldn’t the number of nursing homes follow?
Turns out the answer is…duh…duh…dahhhh… NO!
In fact the number o beds available in the US has dropped nearly 10% since 2000! I find that incredible. Over the past 15-20 the numbers of elderly people have increased dramatically yet the number of beds available have declined.
That simply doesn’t make any sense.
Yet, it does. I mean, would YOU rather age in a nursing home around people you don’t know or in a local assisted living facility or even better your home?
I imagine nearly everyone would rather stay local and in their own home if possible. Even better, is when you do remain local , in an assisted facility or at home, it costs less. MUCH LESS than it does to go to a nursing home.
So, it’s a win/win.
What this means is you may need to revisit your planning. Are you planning for the expectation that you’ll need a million billion dollars to live in a nursing home? If so, why?
The stats simply aren’t there to validate such a concern.