Day Care Cost Calculations

Day Care Cost Calculations

Part 2

Scenario for Day Care Cost Calculations:

Day Care Cost Calculations: Your spouse is 70 years old and they just received a diagnosis of dementia.

Considering that you will be needing 7 years of nursing home and 4 years of adult day care services.

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Considering the age and extent of the disease process

Calculate what the total cost will be utilizing 5 days/week for the daycare cost. Your spouse worked most of their life and was able to save $650,000 for retirement.

  1. Read the scenario above.
  2. Will this be enough money to pay for these services? (Remember: Daycare – 5 days/week and 52 weeks/years, and 7 days a week for Nursing Home/365 days a year).
  3. Comment on the prospects below for Day Care Cost Calculations:
    1. Will you have enough money saved?
    2. Are you sorry you did not pay for long-term insurance?

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