The Impact of the Economic Downturn on Consumers and Providers.
I find the mention of moving out of the country to save money on assisted living most interesting….gotta look this up. Remember, the older people get, the more likely they are to move into an institution. Currently, anywhere from 1 – 1.5 million adults over the age of 65 live in an assisted living or nursing home. In 2009 1.1% of persons ages 65-74, 3.5% ages 75-84, and 13.2% ages 85+ lived in a care facility (source: U.S. Dept of Health and Human Services, Administration on Aging).
Update: I spent much of this afternoon looking for countries that might provide cheaper assisted living facilities than the United States. Couldn’t find much. The countries most often mentioned for retiring were Mexico, Canada, Panama, Costa Rica, Ecuador, Thailand and Malaysia. The assumption in these articles were the individuals were healthy and mobile. Census figures show only a 38% increase from 2000 of Americans living abroad.
