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With $3,000 in monthly pension and SS income, a wholly owned $175,000 home, and $280,000 in liquid assets Mom
(73) and Dad (78) decided against the LTC insurance. Now following Dad's quadruple bypass, and then two weeks
later a stroke, they are facing LTC costs of $4,000 per month. Mom has to eat, so considering that $5,000 per month
is needed for the next five years (or possibly more?) and considering that paying for care is preferable to meltdown to
medicaid, a bond ladder on the $280,000 and a reverse mortgage would bring total monthly income to $5,000. Of
course it would be great if Mom could also afford LTC insurance premiums during the time that Dad spends in LTC.
What am I missing pixy?

The reverse mortgage will consume the house. If you can cover the shortfall by buying the house or making the reverse mortgage I would consider that.

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