This Is How Much Your Kids Are Worth
The average nursing-home stay, in a new study: 272 nights. But for people with kids (especially daughters), time spent and out-of-pocket costs are a lot lower.
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Michael Hurd doesn’t have a long-term-care insurance policy, but he does have something likely to prove valuable in his old age—two daughters.
Few Americans assign a dollar amount to the worth of their children—they are without price. But as lead author of a new study looking at nursing home cost and use, Hurd can quantify the value that daughters, and children in general, bring to parents facing one of life’s most dreaded prospects: a stay in a nursing home.