We have a full on spreadsheet here with various examples and scenarios of costs for full time nursing home living. Debbie has become a wiz with spreadsheets after all that bookkeeping. Basically the room cost is the RAD and any shortfall of that price is the interest you pay which is the DAP. There are also daily fees and essentials fees. So the DAP can be completely removed if you have the full RAD. Also 85% of the pension payment is taken to cover the daily fee which leaves the essentials fee and at $10 per day it can be negotiated to say $5 if you do not require all of these extras. This amount could be covered by the remainder of the pension. So under this scenario, living in a Nursing Home with all care provided, can be fully funded with nothing else to pay, if you can sell your Retirement Unit and recover the RAD amount needed for the room at the Inn. That RAD amount is 100% fully refundable.
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