How much would it cost my parents monthly if they lived with a stranger?


Both of my parents live with me. My Mom has dementia and my Dad has limited mobility due to a stroke. My sisters want me to create a caregiver agreement so that I can be paid by my parents. I have no idea what dollar amount to set. I know this would vary depending on the area you live in. Is there an average amount? I just need somewhere to start. My sisters have suggested an amount which I think is on the high side.

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PS: you also need to factor in any medical supplies, clothing, food, etc. that you would be providing out of pocket.
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Bonnie, there are so many things that have to be considered when drawing up an agreement. For example, how will you being compensated effect your parent's situation if they should ever need Medicaid assistance (there is currently a 5yr. look back period.) I would first consult an attorney that specializes in elder law or Medicaid law.
The average assisted living center in our town costs about $3,000 per person a month. And remember that you would be giving your parents one-on-one care that they would most definitely not get at a facility. Nursing homes cost $8,000.
Add to that your trips to the doctor, errands, ER visits, etc. Just keep a log of what you are doing for your parents now, and you will see how it adds up. Do not short change yourself...your time and emotional investment are invaluable.
How nice that you have cooperative siblings!! Most of us would do cartwheels to have the same.
good luck
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