Innovative Retirement Plan: Man Opts for Holiday Inn Over Nursing Homes

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Innovative Retirement Plan: Man Opts for Holiday Inn Over Nursing Homes

Retirement planning can be a daunting task, especially considering its high costs. According to the Bureau of Labor Statistics (BLS), households aged 65 or older spend an average of $48k annually.

With such high expenses, innovative and cost-effective retirement strategies are gaining popularity. One such strategy is proposed by Terry Robinson from Spring, TX, who plans to retire at a Holiday Inn instead of a nursing home, citing cost-effectiveness and quality of life.

Quote

No nursing home for us. We'll be checking into a Holiday Inn! With the average cost for a nursing home care costing $188.00 per day, there is a better way when we get old and too feeble... I've already checked on reservations at the Holiday Inn. For a combined long term stay discount and senior discount, it's $59.23 per night.

Robinson's plan, which he shared in a viral facebook post, involves taking advantage of the long-term stay and senior discounts offered by Holiday Inn. He calculated that after paying a nightly rate of $59.23, he would have $128.77 left each day for meals, laundry, gratuities, and entertainment. The hotel's amenities, such as a spa, swimming pool, workout room, and lounge, would eliminate the need for additional expenses like gym memberships.


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Robinson also highlighted the benefits of living in a hotel, including complimentary toiletries, daily room service, and a staff that treats you like a customer rather than a patient. He even considered transportation, noting that seniors ride free on the city bus and that the hotel's location allows easy airport access for occasional travel.

Living in a Holiday Inn also offers flexibility. Unlike nursing homes, which often have long waiting lists, hotels can take reservations immediately. Moreover, with Holiday Inn locations worldwide, Robinson could choose to move from city to city or visit places like Hawaii.

Robinson's plan also considers the need for medical care. He believes the hotel staff, who check on guests daily, could call an ambulance or the undertaker if needed. He humorously added that if he were to break a hip, Medicare would cover the medical costs, and Holiday Inn might upgrade him to a suite.

The idea of retiring to a hotel instead of a nursing home has resonated with many, with some sharing stories of people already living this lifestyle. While unconventional, Robinson's plan highlights the need for creative thinking when planning for retirement in today's expensive world.

The news was originally reported by Distractify.

(Editorial Team / Admin)

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Specializes in oncology.

If you are able to have at Holiday Inn someone to help you shower your self, have a PT (or (PTA) to keep your mobility sufficient to care for your self. 

allnurses said:

He humorously added that if he were to break a hip, Medicare would cover the medical costs, and Holiday Inn might upgrade him to a suite.

It is all funny until when you are lying on the floor yelling out for someone to come help you. 

The humor isn't there when you need total assistance to shower with a shower chair in addition needing  someone to assist you washing your legs, back etc. , ,Will your walker get into those tiny bathrooms?  You will also need assistive devices in the bathroom such  as raised toilet set. Who is going to do your laundry, get you high protein meals to heal?

AN I think this article in the Innovative Retirement Plan: Man Opts for Holiday Inn Over Nursing Homes is in the POOREST of taste. 

 

Specializes in oncology.
allnurses said:

He believes the hotel staff, who check on guests daily, could call an ambulance or the undertaker if needed.

Most hotel staff who go into the rooms for housecleaning go in the morning..so a resident could be dead for 20 hours before discovered , 

Specializes in Critical Care.

I think the person has a misunderstanding of what nursing home care is in this day and age and is really thinking more of senior or assisted living care.  In which case it may be a more cost effective strategy than senior living or assisted living.  But then the person would still have to hire hands on help as needed.

But I have read stories of retirees living on cruises too, although I don't think that is cheaper, but has more amenities I suppose and travel options.

These are creative ways to live in retirement.  I think I like his idea vs spending an exorbitant amount on an assisted living place.  Most people don't have the money for nursing home care and in the end the government will pay via medicaid if it comes to that.

Specializes in oncology.
brandy1017 said:

ost people don't have the money for nursing home care and in the end the government will pay via Medicaid if it comes to that.

Medicare, Medicaid is not going to pay for a hotel or a cruise ship. If you are retiring and expect future Medicare look at how you can pay for caregivers coming into your home... My husband and I own a duplex, with  connecting doors between the two homes. We have planned this for 20 years, that we can employ care personnel with  their own  home, while we live privately on one side. We have conscientiously paid off the "double home". 

Specializes in Critical Care.
londonflo said:

Medicare, Medicaid is not going to pay for a hotel or a cruise ship. If you are retiring and expect future Medicare look at how you can pay for caregivers coming into your home... My husband and I own a duplex, with  connecting doors between the two homes. We have planned this for 20 years, that we can employ care personnel with  their own  home, while we live privately on one side. We have conscientiously paid off the "double home". 

No of course not.  He is trying to stretch his money in a creative way for him vs giving a fortune to an assisted living or "nursing home" in his mind.  Those places are cropping up as for profit and they usually kick you out once you run out of money.

Medicare only pays for rehab in a nursing home for up to 100 days a year and that is if you are "progressing" and provided you have original Medicare.  It has become a scandal with Medicare Advantage plans to use AI to say 16 days in you should be fine so we are ending your rehab stay.  Go home or pay on your own!  You can file an appeal and fight it out and after a year or more it might end in your favor so if you're still alive then you would get reimbursed, but what do you do if you don't have the money to pay out of pocket!

Otherwise medicare does not pay for nursing home care and you are on your own, draining your own bank accounts and the nursing homes will make you sign over your house if need be to make sure they are paid and if you end up draining down all your assets, medicaid kicks in, but then the State will come for your house when you die.

So it is a misnomer that medicare pays for nursing home care.  Only in certain limited circumstances and ironically not for hospice care.  For that you have to do hospice at home or at a fancy hospice spa and there Medicare will pay the for-profit spa!  Makes no sense to me.

But to those of us near retirement, I think original medicare is still the best option if you can afford it.  Try to avoid medicare advantage, the free dental/vision isn't worth what you are giving up.  You are giving up real medicare for a private insurance that dictates who you can see where you can go and even gets to decide what care they will approve which can lead to costly delays in care esp if you need cancer care or rehab!  And many don't know this, but you can't automatically switch back to original medicare if you are unhappy.  You have to pass a medical underwriting  to qualify for a medicare supplement and may not be able to then stuck with Medicare Disadvantage or Original Medicare and on the hook for 20% of the cost with no limit on out of pockets which can be astronomical for some drugs and surgeries etc.

But your idea is very interesting and unique.  Almost like a mother in law suite but meant for the hired helpers.  Not too many people have the money to pull this off.  Although passive income from rental properties can be a great way to have an income stream in retirement.  But it is not practical for everyone.  If you have the knowledge and maintenance skills it can be great, otherwise it can turn into a money pit.

My landlord had a small eight complex apartment with one unit for him and his wife when they visited and another for his son.  It worked well for him.  Your plan sounds like it will work well for you too.

Another unconventional way to provide in home care I've known someone to use was to hire caregivers from Poland for low pay plus room and board.  Not sure how they found them though or vetted their abilities.  Maybe they were students on a work visa wanting to come to America.  But I doubt they provided them with health insurance etc like you are supposed to when you hire nannies, for instance, so not sure this would be considered legal now.

brandy1017 said:

Another unconventional way to provide in home care I've known someone to use was to hire caregivers from Poland for low pay plus room and board.  Not sure how they found them though or vetted their abilities.  Maybe they were students on a work visa wanting to come to America.  But I doubt they provided them with health insurance etc like you are supposed to when you hire nannies, for instance, so not sure this would be considered legal now.

My grandma has a similar setup. She met an immigrant woman through church who was looking for work. After my grandpa passed away, my grandma was living in a 4-bedroom house all alone and needed assistance. She and her daughter moved in five years ago. She helps my grandma with basic ADLs, keeps her company, and takes her to appointments. In return, she receives a salary, lives in a nice home in a great school district, has all of her utilities and groceries covered, and has access to a car with free gas money. She's been able to use the money she's saved to go back to school. We love her, and she loves my grandma. We got extremely lucky finding her, but it has worked out incredibly well for everyone.

Specializes in Med nurse in med-surg., float, HH, and PDN.

I thought it sounded like a good idea, (If you are a walkie-talkie). BUT! One month of a room rental at a hotel would cost me approximately $300+ more than I get for social security each month ? ----so, not for me, I reckon.

Specializes in Psych, Corrections, Med-Surg, Ambulatory.

I had already heard the cruise ship story and I suspect these are shaggy dog stories.

For the same money you can move into a senior independent living facility and pay extra to hire an independent care-giver for your personal needs.