Ted and Martha had always planned well for retirement—about $600,000 in their RRIFs, which gave them nearly $4,000 a month before taxes. Everything seemed secure—until Ted began experiencing cognitive impairment.

 

For a year or so, Martha managed to care for Ted at home. But eventually she had to make a heart-breaking decision: move him into an extended care facility.

Today, depending on your province and whether you’re using publicly subsidized or private care, costs can vary dramatically. For example: