New Article: Senior care is crushingly expensive. Boomers aren’t ready

New Article: Christopher Rowland, Senior care is crushingly expensive. Boomers aren’t ready., Washington Post, (March 20, 2023). Overview below:

Beth Roper had already sold her husband Doug’s boat and his pickup truck. Her daughter sends $500 a month or more. But it was nowhere near enough to pay the $5,950-a-month bill at Doug’s assisted-living facility. So last year, Roper, 65, abandoned her own plans to retire.

To the public school librarian from Poquoson, Va., it feels like a betrayal of a social contract. Doug Roper, a longtime high school history teacher and wrestling coach, has a pension and Social Security. The Ropers own a home; they have savings. Yet the expense of Doug’s residential Alzheimer’s care poses a grave threat to their middle-class nest egg. At nearly $72,000, a year in assisted living for Doug, 67, costs more than her $64,000 annual salary.

“It’s devastating,” she said. “You can’t wrap your head around it.”