Nursing Home Fees – Can You Pay Them?
If you find your self in a situation that your pension can’t cover nursing home fees, you have two options, short of moving to a cheaper home. Either ask your children to chime in or sell your home and buy care annuity.
This will make paying for care mush easier, as it will provide you with additional funds, for which you will pay one time lump sum from the money you received from the sale. And since you are already living in a nursing home, you have no use for your house anyway, not to mention that you won’t be bothering your children to support you.
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