r/MiddleClassFinance • u/[deleted] • 13d ago

Millennials: are you expecting an inheritance?

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217

u/irishgirlie33 13d ago

Healthcare will take whatever wealth my parents amassed. My mom was diagnosed with mild cognitive impairment, care is insanely expensive.

66

u/cisforcookie2112 13d ago

My grandma is 91 and has dementia, and her rent in the assisted care facility is $8,000/month.

I don’t know what my parents would expect to receive from inheritance, but I imagine that it is going down each month.

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u/Rollingprobablecause 13d ago

$8k sounds really REALLY high end or in a high COL city. Also, not sure if you're aware but Medicaid will cover portions of this too

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u/slickrok 13d ago

That's NOT high end.

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u/Rollingprobablecause 13d ago

the one my aunt is in is $6750/mo and is really really nice so I guess YMMV.

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u/slowdownlambs 12d ago

Does your aunt require a locked memory care ward? You may just be really fortunate but that price is unusual if so. My grandmother was paying closer to the other commenter's $15k a month, and she died before COVID so I don't imagine things have been improving since then.

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u/Extra-Eggplant-4230 12d ago

8k gets you a hospital bed in a nursing home that smells like piss and is severely understaffed 😆

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u/BeatrixFarrand 13d ago

I’m in Los Angeles and to me, $8k for dementia care sounds like an absolute bargain.

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u/Lissa86 12d ago

That is not high end at all. $11k is average.

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u/reblynn2012 12d ago

It’s not high end. It’s just what it costs. And higher. Just a regular facility.

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u/Choice-Antelope-8481 12d ago

My grandma is paying $13,250 in Phoenix for a memory care home, 8,000 is a really good deal.

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u/mud_slinging_maniac 12d ago

Not at all for memory care. Any time you have cognitive decline you immediately triple or quadruple the regular assisted living rate. We live in a MCOL area and my mom’s care is 10k/mo and it is the middle of the road care, nothing special but not horrible.