Finances Articles

How much does it cost to live in a senior community? This is the first and most important question for most families beginning their search for senior living options. Understanding your loved one’s typical expenses and then budgeting appropriately are necessities with which a Senior Living Advisor can provide help. After reviewing the costs of living alone or with in-home care, you may find senior community living more affordable than you would expect.

Study Shows Long-Term Care Insurance Relieves Stress

shutterstock_2636655A majority of Americans share a common worry: how to pay for long-term care if the need arises. A Harris Interactive/HealthDay poll verifies this concern, with more than two-thirds of respondents saying they are “anxious and uncertain” about how they’ll pay for a senior community or home care costs should they need them in the future. …Read more ›

Low-Cost Summertime Décor Projects for Your Assisted Living Home

shutterstock_178015808Decorating your Assisted Living apartment can help you adjust to your new living space and make you feel more comfortable. However, home décor stores and hobby shops can run a little pricey, depending on where and how you shop. With so many great do-it-yourself activities online, you can easily find inexpensive projects to make your apartment cozier. Check out the following DIY projects to fill your home …Read more ›

10 Senior-Friendly Part-Time Jobs to Help Save for Senior Living

shutterstock_127409048According to the United States Department of Health and Human Services, approximately 70 percent of people over the age of sixty-five will require some form of long-term care in their lifetime, but many fail to adequately prepare for the cost of that care. When it comes time for them to move into an Assisted Living or Independent Living community, many seniors turn to financing methods such as …Read more ›

Choosing a Senior Living Option You Can Afford

shutterstock_89095468Determining the cost of senior living requires more than just a review of your loved one’s finances and the current marketplace pricing. You also need to gaze into the future, taking into account such factors as the impact of inflation, likely projections for your parent’s health and longevity, and what income/assets will be available for senior living expenses. …Read more ›

Paying for Senior Care with Crowdfunding

shutterstock_177843716When it comes time to move your parent or loved one out of their home, you may need help financing the cost of a senior living community. Many people will turn to more conventional methods such as long-term care insurance, retirement accounts, and government funding. However, an overlooked, out-of-the-box option includes crowdfunding, a relatively new trend that involves collecting small sums of money from a …Read more ›

2016 Trends in Senior Living Costs

shutterstock_353531531The costs of long-term care are rising, but did you know that the cost of Assisted Living is growing more slowly than for other types of care? (more…)

The Average Cost of Assisted Living in Five Major US Cities

shutterstock_288591023Cost remains the most pressing concern for the family members of those who require Assisted Living. Nationally, the average monthly cost is $3,500; however, your expenses depend on a variety of factors that include care types and amenities. Luckily, VA benefits and similar programs help you and your loved ones accommodate the costs of Assisted Living. See below to learn more about the average monthly …Read more ›

Decoding the Secrets of Senior Living Pricing

shutterstock_39878653When considering a senior living community for yourself or a loved one, you must know what expenses to expect. The variety of pricing options can make it difficult for families to budget appropriately. Below, you’ll find the most common community expenses. Be sure to consider these items in your budget.  (more…)

Financial Planning for the Assisted Living Resident

shutterstock_314438072Many seniors sell their home when they transition to Assisted Living and use part of the equity for move-in costs and other initial expenses. However, this regularly means a leftover sum from the home sale and uncertainty regarding the most effective way to manage the money. With proper planning, seniors can make these residual funds last for many years to come.  …Read more ›

Can Memory Care Save You Money?

shutterstock_283194713 In its most recent statistical resource, the Alzheimer’s Association has revealed the costs of caregiving, highlighting the financial strain on families.  (more…)

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