Financial Longevity: Is $1.5M Enough to Age in Place?

May / June 2025
We often assume someone with a $1.5 million portfolio is “set for life.” But when unexpected health needs arise, even that amount can start to feel alarmingly small.
One of my long-term clients—now in her 90s—recently had a significant medical setback. She went from needing a few hours of caregiver help per day to requiring 24/7 assistance. She’s also transitioned from using a rollator to a wheelchair. The financial impact of this change has been dramatic.
Let’s break it down:
Caregiving Costs:
$25/hour × 168 hours/week = $4,200/week
$4,200/week × 52 weeks = $218,400/year
Even with $1.5M in the bank, that level of expense could deplete her savings in about eight years--and that’s not including inflation, medical costs, or potential wage increases.
Despite regular conversations with her longtime financial advisor, she was repeatedly told she’d be “fine” financially. But without a long-term care policy and with care costs rising, we’re now actively re-evaluating what “fine” really means.
As her Daily Money Manager, I’m helping her navigate difficult, but necessary decisions:

• Can we reduce or restructure caregiver hours?
• Should we tour assisted living communities?
• What expenses can be trimmed?
• Can we pause, stop, or adjust charitable donations?

Financial longevity isn’t just about how much you’ve saved. It’s about making strategic choices when life changes—especially when those changes happen fast.
If you or someone you know is facing these kinds of questions, I offer a free 20-minute consultation to talk through options. 🧭 I work remotely bringing hands-on help and clear financial direction wherever you're located.

Let’s make sure “set for life” truly means that.
Warmly,
Adele Tusson-Gross
Certified Daily Money Manager®

706-714-1314
[email protected]