According to a report by AARP and Harvard Joint Center for Housing, younger baby boomers might find it difficult paying for their
long-term care expenses due to the lower rates of homeownership than previous
generations.
A U.S homeowner can afford to stay in a nursing home for 3
and ½ years and they can stay in an assisted living facility for 6 and ½ years.
However, an American who only rents can only stay in an assisted living
facility for 2 months and nursing home will deplete a renter’s nest egg in just
a matter of weeks.
It is the responsibility of Americans to plan for their
future housing needs but it’s the government’s job to make this affordable for
them.
No comments:
Post a Comment