Originally published on Wed May 23, 2012 9:51 am
Walk through any nursing home, and your first thought might be: "I need to take care of Mom myself."
Few people want to turn over a loved one to institutional care. No matter how good the nursing home, it may seem cold and impersonal — and very expensive. But making the choice to provide care yourself is fraught with financial risks and personal sacrifices.
Those who become full-time caregivers often look back and wish they had taken the time to better understand the financial position they would be getting themselves into.
Read more