Weighing the benefits of staying home or moving to a retirement community
It’s time – or nearly time – to start considering your or a loved one’s retirement living plans. With so many senior living options out there, it is easy to feel overwhelmed and even confused by the choices, especially when each choice comes a different cost.
Here are three items to consider when evaluating what you or your senior loved one will spend on retirement living.
Senior living is a lifestyle choice. Individuals have the opportunity to look for senior living options with as much or as little assistance and independence as they need or want. The choices can vary from independent senior living to assisted living to more round-the-clock care options like Alzheimer’s and memory care. For every senior there is a lifestyle option that will fit his or her needs. Depending on the amount of care you or your loved one needs, the cost associated will fluctuate. But remember, the cost of remaining independent can be priceless for many seniors.
2. Emotional well-being
This is tough to calculate and measure, but equally as important to consider when planning retirement living. When weighing the pros and cons of your or your loved one’s retirement living decision, consider location. Is the senior living community close to family members and friends to allow for regular visits? If not, share the plan you have to visit with your aging loved one so he or she does not feel lonely. Another important consideration is the level of activity and engagement at a chosen senior living community. Does the community offer events and activities for its residents? What are some of the current residents like? What may seem like fluffy considerations can have a big impact on how much you enjoy where you choose to live in retirement.
3. Aging in place
Most seniors plan to live in their current homes for the rest of their lives, but often the home inevitably becomes difficult to navigate, expensive to maintain, and inconveniently located to meet a senior’s daily needs like running errands or visiting with family. There are more obvious costs to consider when deciding whether to age in place or age in community. However, you also want to consider the costs of these two options, like having a loved one or family member care for the senior. When mapping out your or a loved one’s retirement, take into account how expensive it may be to stay put. For more information on weighing the benefits of staying home or moving to a retirement community, download a free e-book.
When it comes choosing the right senior living community, it is clear there is a lot to consider. Budgeting and ensuring an income lasts through retirement is a top concern for most seniors and their loved ones. Take advantage of cost of living calculators that allow you or an aging loved one to compare the cost of living at home to the potential savings of an all-inclusive senior living lifestyle.
When you are ready to visit a senior living community, bring along a comprehensive checklist outfitted with all of your requirements and needs to make your senior living experience the one you have always imagined.
Interested in learning about all of the great features of a Holiday Retirement community near you? Contact us today!