I am very confused about what I read here in regards to paying for Memory Care vs nursing home vs assisted living or home care.
We have not yet reached the stage where we need help, however that time will come. I always thought that Medicare would cover some cost of home care. Then if the person needs more than part time help, a Memory Care facility would accept their Social Security check monthly as their payment.
My spouse has some money in an IRA, however that is what we are currently living on (along w/only one SS check because I’m not 62 yet). Will care facilities take all of our IRA money? I’m very confused and worried I will not have enough income to live. I never went to college, so I do not have a decent paying skill. Am I doomed to working at a very low paying job and living out of my car in the future? I know people have to sacrifice…I just want my spouse to have the care needed and to know what to realistically expect for myself.
