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Can you afford assisted living? Here's how to budget [Yahoo! Finance]

NerdWallet, Inc. (NRDS) 
Company Research Source: Yahoo! Finance
Recently, a listener of NerdWallet's Smart Money podcast submitted a question about budgeting for long-term care for her father-in-law: We are looking at how we can have him move closer to us into an independent/assisted living situation. We would like to build a budget to help him understand what type of living situation he could afford and for how long. — All the best, Senior Living is Confusing Let's tackle the question step by step. How much does assisted living cost? Assisted living costs vary wildly, depending on where you live. The national median cost of an assisted living community was $70,800 per year in 2024, and a semi-private room in a nursing home was $111,325, according to the Genworth and CareScout Cost of Care survey. Home health aides cost a median of $34 an hour. The survey is a great place to start. You can dig in by state and look at numbers for a variety of care scenarios, including home health aides, adult day care and nursing homes. “That helps t Show less Read more
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