Do I wan to live in New York City?

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(The building of New York Times and Andy Warhol Exhibition at Whitney Museum )

I always enjoy visiting New York City.
We can walk from my son’s apartment
to the museums, jazz concerts, and
trendy restaurants. Fun!

This time, I met with my college day’s friend.
We studied Japanese literature together in Japan.
Both of us married to the American men.
She married to the older man than her age,
I married to the younger man than my age.

She lives at one of the high-end condominium next to
the United Nations. Her husband was one of the advertising
executives who retired about 10 years ago.

My friend started to think about what to do
if her husband passes away first.

She told me that she may go back to Japan in the future.
Because, the Japanese assistant care for elderly is reasonable
in price and also, care takers pay better attention to
residents than the U.S. according to her.

My friend told me that in New York City, good senior facilities
cost $525 a day in the expensive areas. Expensive!

It means
$15750 per month and
$189000 per year.
If we live in one of these facilities for 10 years, we might
No way!

Maybe, she was talking about home care facilities
for the relatively high society people.
Remember, she lives right next to the United Nations.
And these high-end condominiums charge a substantial
amount of administration fees, too.

In different state, different story
It was almost 10 years ago, my mother in law was
paying about $4000 per month
in a southwest state we live. I ate her meals from time
to time when she did not have appetite, I enjoyed
her meals, because these meals were prepared
at the five-star restaurant. There was a music concert
once a week, a game day, parties and many
programs at that facility.

But, this was not in New York City.
Still it was considered very expensive.

Before my mother in law moved to our state,
she was paying less than $2000 per month for
the assistant care system at her native state
in the middle west.

It seems like that these numbers change by each individual’s
financial situation. Because, some people could not pay
$2000 per month.

Also, Medicare does not apply for assistant living or
home care in any state.

In New York City, prices of “assistant living”
Here is what I found the prices of assisted living
in New York state.

The average cost of assisted living in New York state:
In more expensive areas in New York state costs
$5170 - $5570/month (2018).

If we want to go to a reasonable assisted living, we need:
$5570x12=$66840/ per year.

If we live 10 years there, we should have,
Need: $66840x10=$66,400 (assisted living)

Prices of “home care” in NY City- more expensive
Home care across the New York state on average cost is:

$22.75/hour (2018) and in most expensive areas,
the prices are $24.50-$25.75/hour.
(from www.payingforseniorcare.com)

If we want home care for 8 hours a day and 7 days a week.
Our expense would be:
$25.75x8 hours= $206 per day
$206x31=$6386 per month, and
$74160 per year and so for 10 years:
Need: $741600 (home care)

No matter how we look at, senior living is expensive.
But, if you live in a smaller state, your cost of either assistant living
or home care would be less.

Unfortunately, money is not coming in every month after retirement,
but, mainly going out.

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(Cotton Club and General Grant mausoleum)

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(September 11 museum)

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(at the restaurant in Harlem)