Daddy left Mom well off and her money should last around 9-10 years if nothing major occurs (new roof, car breaks down, etc.). She is spending quite a bit on caregivers, and I have the opportunity to take more time to be with my family if we hire either another caregiver for weekends and my husband doesn't believe we should be spending the money on it. My sister is in agreement with me that we spend it now, and if something major does come up, we can always stop the weekend caregiving and let me go back to doing it.
I know my sanity, health, etc are worth the price too...
Be grateful for mom's nest egg. Be grateful for the very generous government Medicaid program if the nest egg doesn't last.
2. I would find out if current caregivers are being paid appropriate hourly rate for your area. Also if she is paying the caregivers, is she paying them the correct amount and how are taxes, etc. being paid. If your mother is paying them under the table, then you could have a real problem.
3. Do the caregivers accountable in terms of hours and responsibilities? Sometimes if they lack accountability and supervision, time keeping can become lax.
4. You might want to evaluate whether it is less expensive to hire a caregiver for the weekend than providing the care yourself occasionally.
5. How confident that your funds will last 10 years? What if her health declines or she get Alzheimer's? Can she withstand these economic challenges. Looking at the long term possibilities is important.
I agree with the others that respite care is important, but caregiving can be extremely expensive over the long term.
Sorry this is not a yes or no answer, but I perceive caregiving to be a more complex question than yes or no.
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