Here's my hard take on the risks of aging in place for non-multi-millionaires:

Remember that we have lived with uncertainty for our entire lives and have made it through to now with our personal mixes of joy and sorrow, pleasures and pains, successes and failures, seeking enough meaning to feel it's worth the effort.
And that's what it will be like until our last breath.
So far it has been more than good enough for me, and I deeply hope it is like that for everyone.

For me, aging in place means building a home and life that offer hope to continue with the most positive balance possible.

Money is part of this. It would be nice if we had a little more, but we do have enough to manage.
We looked into continuing care communities and found that the ones we can afford would require loss of our greatest joys (pets, woods, garden, fruit trees, river nearby, wild animals in our yard, family visits, favorite foods, musical instrument workshop) in return for a guaranteed bed in memory care.
The aging care professional we consulted felt we that with preparation we could have a far better life aging in our home, even with serious illness.

We have Social Security, some annuities and retirement investments. We can live without withdrawing funds for our usual expenses, and we have long-term care insurance.
Fancy vacations aren't likely.
We've always lived within our means, and sometimes those means were very slim, so we know how to find the joys of parks and the public library! In case of early death of one of us, a housemate is possible, as has been done in several nearby homes of similar design.

It's not a guarantee that our last days (or months or years) won't be difficult, but by staying where we are, I have had, since turning 70, five of the richest years of my life, so I feel the "wager" is worth it.

Looking at my balance sheet, if I had to choose between money and friends, the friends are what I need to nurture most because friends give my life more meaning, purpose, knowledge and sharing of world views, and without that, money is worthless.