Investing for a 96-Year-Old
At 96, the pattern of spending often shifts: discretionary expenses decline while care-related expenses rise. Assisted living, in-home aide services, and medical costs can exceed 60,000 to 100,000 dollars per year or more. A dedicated cash reserve of 12 to 24 months of care costs prevents forced liquidation of investments at an inopportune time. Medicare covers acute care but does not cover long-term custodial care: that cost falls to personal assets or long-term care insurance.