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.

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…)

The Cost of Hiring Caregivers vs. Assisted Living

shutterstock_89095477On average, working-age households have a median retirement account balance of $3,000. This falls significantly short of the estimated $80,000 per year cost for long-term care. Instead, many families opt for Assisted Living or hire caretakers to save money. These two options offer plenty of flexibility and can cut monthly expenses. …Read more ›

A Guide to Homeowner Options for Financing a Senior Care Community

shutterstock_283140074According to the Assisted Living Federation of America, the average cost of senior living nationwide is over $3,000 per month. When many older adults and their families discover this, they begin searching for ways to help cover these expenses. A great option for generating funds is for seniors to utilize one of their greatest financial assets: their home. This guide gives an overview of some of the …Read more ›

Six Ways to Make Senior Living More Affordable

shutterstock_262076303 (1)With Assisted Living costs averaging around $43,000 annually—and the priciest locales (such as Washington, D.C., New Jersey, and Connecticut) more than doubling that figure—many families search for ways to lower their senior living expenditures. (more…)

Choosing Assisted Living Services That Work with Your Budget

shutterstock_144630188Assisted Living care varies for every person based on their needs and preferences. You can find a community for your loved one that provides a great quality of life without exceeding your monthly budget. Here’s a list of customizable Assisted Living expenses for a healthcare plan that works best for you and your family. …Read more ›

How Much Do Senior Living Accommodations Cost?

shutterstock_73623532As people approach age sixty-five, their retirement planning questions shift from how much they can save each month to how much they can afford to spend. Abstract figures such as projected Social Security benefits, savings accounts, 401(k)s, IRAs, pensions, and other investments all coalesce into a bottom line that determines the retirement lifestyle they can afford. …Read more ›

Can Staying Healthy Help You Afford Senior Living?

shutterstock_133211177We know that good health affects how we think and feel, but have you considered the fact that healthy habits can also add up to money in the bank for senior living? (more…)

The Cost of Assisted Living vs. Remodeling Your Home for a Disability

shutterstock_187933352As we move into our golden years, complications with health and unexpected injuries may require us to alter our homes to cater to age-related disabilities. (more…)

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