Senior Finances: Costs of Differing Care, with Daphne Davis

*The following is the output of transcribing from an audio recording. Although the transcription is largely accurate, in some cases it is incomplete or inaccurate due to inaudible passages or transcription errors.

The following podcast is provided by pinnacles senior placements LLC and answers for elders radio, and welcome back everyone to answers for elders radio. And we were our back here with our Wonderful Daphne Davis from pinnacle senior placements and we are talking about the whole financial peace and I think we talked briefly in our previous segment about the emotional roller coaster that families go through, but the big motion emotional piece of this, and really what we’re getting to, is the cost of senior care, elder care. Daphne, and you probably deal with families that are in all ends of the spectrum, don’t you? I do, I do. I have, you know, story after story of your story. But I just yesterday had a phone call from in a strange nephew who hadn’t been around his uncle at all, who has no family, and he was scared to death that how are we going to afford care for my uncle who could no longer be alone? And he has about thirty five hundred to four thousand dollars a month income and not a lot. NOPE, it doesn’t have any savings, doesn’t have anything else to tap into. But I assured that family member that said we can find care, appropriate, quality loving care for your uncle. So today I’d like to just kind of deal with the elephant in the room that says, how much do things cost? Big, big question and probably the big, big missnomer, because every family’s different. Yes, it is. It’s very different. Everybody’s story is unique, everybody’s financial story and picture is unique. So please, at the beginning of this I’m just going to say these are broad brushes that you know. These are not take to the bank, and Daphne said, because everything is different, right. But generally you can think about care options in three areas, one being in home care, MMM, the second being assisted living care and the third being adult family home care or memory care. And I don’t include nursing homes in my littaney one. I don’t work with them and it’s a whole different kind of quit flying to be able to be their long term. So I don’t think of that as a long term option for most families. But when you think about in home care, it is a really nice option to being able to have someone stay in their home at the beginning of some changes that may be happening and in our market place here in the puget sound area, you can generally think of that in terms of about twenty six, twenty seven dollars an hour to its high as about forty five dollars an hour. Big Range depends upon where you are in, what county and and whatnot. It exactly. It also depends upon how many hours that you are wanting care. Usually in home care has a minimum of either two or four hours that are required to contract for care. Again, this will change from your situation and from company to company. Some companies are more flexible in that. It also depends upon if you’re having a split shift kind of thing. You need help in the morning or help in the in the evening, it might be more of a companionship that says, you know, twice a week I want someone to come and take my mom to go grocery shopping and get her nails done. Different kind of in home care. Right. So then it just depend on how many tasks are different degree of care does yes, yes, it does. It you contract for the services that you need, okay, and it’s a per hour basis. Each company will have their own protocol in terms of if they have any upfront fees for setting up or paying for, you know, so many hours ahead of time or every company is different. So one of the things that pinnacles senior placements will do is help you understand the contracts that you’re looking at or, more importantly, as I say, just know what questions to ask right. You know what things to pay attention to. Those questions are also based on whatever your highest values are as a family. That’s one form of care. Looking at assisted living, and this is going to be very broad you know, I just got some quotes for an assisted living independent studio in the Auburn area and it was one thousand nine hundred and ninety five a month for that studio. That doesn’t include any care. Right, that’s still a good deal. That’s not bad. No, but it can also and that was for studio. MMM. So generally in assisted living you can look at studios which can be, you know, maybe three to four hundred square feet to two bedrooms. That can be one thus five hundred square feet. So it really depends upon, again, what your highest values are, what supports your quality of life, and we look at all of those options. Assisted living is generally you will pay for a rent. That will include your room and board, so your meals, your utilities, housekeeping, general housekeeping, emptying the garbage. So room and board. That’s one fee and that can range, and I’m going to give you the full spectrum from, you know, the nine hundred for a studio to it could be seven, eight thousand for a two bedroom apartment. HMM, no, it ranges right an average, I would say for a one bedroom you’re probably going to look around three to four thousand dollars h assistant living. You then add on all a cart charges for your care, for your support. That support might be something as simple as an escort to the dining room that your one capacity doesn’t allow you to be able to walk to the night room, so may have somebody dinner something. So it could be something like that. It could be managing your medications, it could be helping with showers, it could be putting tedtoes on, it could be anything. Right, right, and each building has a different list of the services that they can provide. Everything that I just said to you and services are in most buildings for assistant living. When things get a little bit different is when their actual health services. That could be wound care, oxygen to person, transfers, cathe or care, your ust to May care. Things that get a little more medical may or may not be available in a given building. Right again, this is where a third party will be able to help streamline what is about. Is available for you to not one get overwhelmed or discouraged, but to always have the sense of hope and can do solutions. So get talking about you getting involved. I’m just going to reintroduce you to our guests, as we all know you very well. We are talking to Daphne Davis from pinnacles senior placements. And Daphne, you serve pretty much the entire greater puget sound area, don’t you? Yes, we do, from Olympia up to Anacortis. That’s anything? My hometown ant of Cortis, we know, and it’s just out in put and port angels last week again. Oh that’s so, we were all over the place. We’re here to serve people where they need to be served, is he lady? We are, but we still love our job. We love being able to help people and share the information that we’ve learned over the last twenty years. And how many people that I talk to is just talking to Rebecca from gardencourt and she was saying we love working with Daphne and you know, that’s the thing. I think this really great, because Daphnee knows all of the properties that are out there. So if you’re a family that’s wanting to know about assisted living, you know you are. You have an encyclopedia inside your brain on you know what to ask, what to look for, how to you know how to really narrow down the search so you’re not out there like a deer in the headlights wanting to know what to do. I was at a senior center yesterday and this woman just casually said she was, you know, trying to figure out things on the Internet and she wanted independent living, and I told her what I did and she said how come I didn’t know about you? I’ve spent weeks trying to be able to discern and so now we’re just going to help her kind of narrow it down and that assisted living rule world. That’s what pinnacles senior placements does well and I think the to the second thing is if you’re looking for independent living, you know there may be a need to eventually move into an assisted living role when you’re ready you’re not there yet right, but that’s certainly a consideration that you’re going to ask. I’m sure, absolutely, because that falls into the financial world of part of pinnacles responsibility on a small level. But we really want you to know what your options are so that you maximize your buying power of your estate and not make a buying mistake. To know what are the things coming down the road and five are years or you know, two years, or you know to look at disease processes that you might have their all in remission now or they’re not really being a problem for you. But we need to plan for that right and not exhaust your your funding for just today. I’m a big believer and live for today, but you got to have an awareness for tomorrow as well, and so that’s something that pinnacle can help you in terms of what does that look like? If I need more care and need to go into assisted living, do I need to move my apartment? Can I stay in the same building? What is a floating license? You know, all kinds of things to know about her and those are the things that pinnacle can help you with. Again, making a phone call to pinnacle is not a commitment. Sure Making a phone call to pinnacle is is finding out off where the right people to be on your team when and if you do need to make changes in your your housing and care. We’re a part of the team that you can trust to know how and what questions to ask. I want to move into the adult family home and memory care. Adult family homes, most of them provide memory care, and memory care is really something that we have to really understand. What makes the person tick, who were they in their fort s and s and how has some form of dementia affected them now in their sight s and N S and be able to streamline that. So memory care itself, if you’re looking at a large community, you’re going to be looking you can get as low as five thousand m again, that’s the low end, right, and as high as I hate to say this, but this highest fifteen, eighteen, twenty thousand a month, right, and so you really need to be aware of how to maximize your estates buying power. So that’s there. And in an adult family home, and here I’ll give you the range again, thinking Olympia tool and accord is not just the Seattle area. You’re looking at anywhere from about thirty five hundred to maybe eight hundred and ten, twelve thousand dollars a month. That’s really, really important and the key is is just pick up the phone and called Daphne. You know, ask your questions, ask a question and I promise you that you will get at wealth of information from her and Daphne. How do we read too? Easiest ways eight fifty five, seven, three four one one five hundred. Again it’s eight hundred and fifty five, seven, three four one fifteen hundred. Or website at pinnacles senior PLACEMENTSCOM. And guess what, everyone, Daphney’s coming back in the next segment. The preceding podcast was provided by pinnacles senior placements LLC and answers for elders radio. To contact pinnacles senior placements, go to Pinnacle Senior Placementscom.