NEW YORK (CNNMoney.com) -- Sure, we've all heard the quips: Behind every successful man is a disbelieving mother-in-law.
One cannibal to another: "I can't stand my mother-in-law." Second cannibal: "Forget about her. Just eat the carrots"
Q: How many mothers-in-law does it take to screw in a light bulb? A: None. She always gets the son-in-law to do it.
But, despite all the hostility exemplified in those jokes, most people really do love their mother-in-laws. You do, don't you?
Well, even if you don't, you want what's best for her. But, even under optimal conditions, you probably prefer she not live under the same roof with you. And you know what? She probably feels the same way.
Retirees are more active, self-sufficient and independent than ever. She has her own friends and way of life that she would probably like to maintain. And many seniors want to stake their own claims to privacy.
There are more seniors all the time. Life expectancy has increased to 77.9 years in the United States, according to the latest stats from the National Center for Health Statistics. Today, there are more than 35 million Americans aged 65 or older.
With the leading edge of the 76 million baby boomers now turning 60, the number of Americans "aging in place" will balloon over the next few decades. By 2030, there will be 70 million seniors. Between now and then, the number of seniors requiring some living assistance will expand as well.
That's where the mother-in-law apartment comes into play. Having one on your property provides a great balance of privacy and proximity; both parties get what they need.
Your mother-in-law is able to see her family without compromising her right to live as she likes. And she can come and go freely.
For you, it's easier to check in on her, and you don't have the hassle of driving across town to change a light bulb or fix a leaky faucet for her.
You receive other benefits as well: Your mother-in-law is there to receive packages, check on the cats while you're on vacation or look after your teenagers when you're out on the town. It's like having your own housesitter - an annoying, cranky, demanding one perhaps, but it's still very helpful.
Even if your mother-in-law is not quite ready to move in just yet, an in-law apartment is still a major asset for a homeowner. It can be used as a guest facility or home office or rented out to offset the mortgage payments and property taxes.
When your mother-in-law does move in, it can be a money-saving choice over assisted living facilities, the cost of which is already high and continues to rise faster than inflation.
According to MetLife, the national average base rate in 2006 for an assisted living facility was $2,968 per month, or $35,616 a year. That's up 17.6% from 2004.The longer your mother-in-law can comfortably age in place, the longer she can put off paying those big expenses.
At prices like that, the mother-in-law apartment can be an economical alternative. And that's no joke.
