Elizabeth Ayoola

I left with two bags.

That was it.

That was it.

But that's an essential.

So I guess to answer your question, I think I did good this week.

I didn't buy any non-essentials, just food.

So it sounds like you get a B then, Sean.

C for chrysanthemum.

Sometimes that's the thrill, you know?

We would like to build a budget to help him understand what type of living situation he could afford and for how long.

Can you help us understand the pros and cons of these different types of payment models?

We think he has enough funds to enable sufficient time at an independent or assisted living facility, but there could be a time when he needs to transition to a nursing home where the costs then skyrocket.

When his money runs out, I know that you can apply for Medicaid to pay for the cost of a nursing home.

Can you talk a bit about what this process looks like and how we can prepare for it?

All the best.

And our listener signs it, senior living is confusing.

Listener, I second that.

Oh, hey, Kate.

So we have today with us to help us answer this question, nerd Kate Ashford, who is a certified senior advisor.

Welcome back to Smart Money.