How Much Does Long-Term-Care Cost?

I retired June of 2008. During the fire storm in San Diego County in 2007, my mother's house burned. She cam to live with me. She needed a lot of care I couldn't give and work at the same time. She didn't want care from a stranger and asked repeatedly, "Can't you just stay home now?" There was also a retirement incentive being given by my employer. It wasn't much, just my employer paying a premium to an insurance company so they will give the retiree $75000 in an IRA over 5 years. I tightened my belt all the years I taught, yes, one of those lazy, unprepared, incapable people who can't do, so they teach. Well, I retired, took the incentive, can't get my job back and my mother is now gone. The current rumor is that my former employer is going to quit paying the premium to the insurance company, and they will quit putting money away. I can't afford my house on my retirement. I can't get HomEq to adjust my loan because, GET THIS, I make TOO little money. Over all the years I taught I saved $290,000. It is now worth about $160,000. I may lose my house, but I'm robbing my savings to pay for my house each month. My grown daughter and grown grandson are moving in with me because they have lost their jobs. So here I am impoverishing myself to be able to stay in my home. All the money I saved for when I couldn't work is being spent now. I'm desperately looking for work. I'm over qualified and over-educated for almost anything. The Golden Years are not looking so golden. Retirement was not a good choice for me in the state of our economy.

Sharon of CA 4:16PM February 13, 2009