When An Assisted Living community is the Only Option:
Tips on How to Financially Afford it
Tips on affording an assisted living community and how to financially afford it
An assisted retirement community can truly make life easier for individuals who are having a difficult time taking care of all of their necessary daily tasks. These communities enable residents to remain as independent as possible, but they also make it easy to get assistance as needed. For example, if you or a loved one are no longer physically capable of taking care of lawn work, you can remove this burden by moving into an assisted retirement community.
What is an Assisted Living Community?
Although each assisted retirement community has different features, they all provide their residents with the opportunity to live in individual units. Additionally, most of these communities will provide three meals a day to ensure that everyone's nutritional needs are met. Some communities will have trained medical personnel on staff, but even if the one you select does not offer this benefit, it will still be much easier to get assistance during an emergency.
Benefits of Moving into an Assisted Retirement Center
There are several benefits of moving into one of these communities. For example, each community has regular programs and social events that will make it easy to stay active and make new friends. It is also beneficial for many older individuals to downsize their living space so that they do not need to spend a lot of time keeping everything clean and in good repair.
As previously mentioned, meals and access to emergency medical services are typically provided, and you will still have enough independence to structure your own daily routines. However, even if you choose not to participate in daily activities, there will still be someone who ensures that you are okay on a regular basis.
How can I Afford an Assisted Retirement Center?
Many people are concerned that they will not be able to afford an assisted living community. Although it is true that these communities are more expensive than living in a standard apartment, it is important to recognize all of the ways that assisted living can make your life easier. Fortunately, there are several ways to make these communities more affordable.
1) Your Bills will be Consolidated
Whether you currently live in a home or an apartment, the odds are high that you pay for all of your utilities separately. Most assisted retirement centers, like at Dogwood Forest, an assisted living in Stockbridge, GA community, bundle all of these expenses into one monthly payment. In other words, you need to consider the cost of your utilities when you look at the rental rate of an assisted living community.
2) Pension and other Retirement Funds
Many seniors use their pension, social security and savings account to help pay for their move into an assisted living community.
3) Financial Services
There are several financial services available specifically for seniors who have made the decision to sell their home so that they can relocate to an assisted retirement centers.
4) Companion Apartments
Some communities will let you reduce your expenses by signing up to live with a roommate.
There are several other options that can help you afford to live in an assisted living centers, including a life insurance settlement, reverse mortgages and tax deductions. To learn more about these solutions, you should discuss your specific situation with a staff member at your preferred community.
Lisa Coleman encourages assisted living community options when living at home becomes too demanding, allowing one to still maintain independence but have assistance when needed on a 24 hour basis. She understands that, though expenses are a bit higher, with the right planning and help from a quality community, such as Dogwood Forest, an assisted living in Stockbridge, GA community, it can be financially feasible and a terrific option for an elderly loved one.
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