Do You Know Your Senior Living Options?

Over the past year, we’ve had quite a few clients move into senior housing communities. We’ve also worked with more than a few baby boomer clients as they help with research to pick out the right community for their parents.

There is a broad range of housing options out there, from independent living and assisted living, to CCRCs (continuing care retirement communities), nursing care facilities and memory care units.

These communities can be a very popular alternative to aging at home, as they provide seniors with a maintenance-free lifestyle, meals, transportation, medical services and social activities on-demand.

The demand for senior housing will only continue to grow, says Beth Burnham Mace, Chief Economist and Director of Outreach at the National Investment Center for Seniors Housing & Care (NIC).  It’s a function of the “swelling ranks of older Americans, fewer adult caregivers, increased longevity and rising health needs,” says Mace.

But many people are confused about what these senior communities offer, and how they differ in levels of care and costs.

To learn more about senior housing alternatives, and how they might compare to living at home, here’s a short video (below) you might find helpful produced by ASHA, the American Seniors Housing Association.

You can also visit their website, which is chock-full of information on senior lifestyle options, helpful articles on costs, what it’s really like to live in a senior community, and how to prepare for your visit to a community that interests you.

Want to know more? Take a look at Glenn Ruffenach’s great article for The Wall Street Journal on how to know when it’s time to move into a senior community.

About Mari Adam

Mari Adam, Certified Financial Planner™ and President of Adam Financial Associates Inc, has been helping individuals and families chart their financial futures for over twenty-five years. Have a question about your financial situation? Ask Mari!

Subscribe to our updates

Stay informed about financial planning and investing issues that impact your life today AND tomorrow! (we respect your privacy)

, , , , , , , ,

No comments yet.

Leave a Reply