Are you or your loved ones considering a move into a senior living community? Perhaps there is a need to move into such a community. How ready are you to move in? What are the steps that you need to undertake? Most importantly, do you have the financial resources you need for such an investment? No doubt, you will be having these questions and more before you decide to join us. With this article, we hope to allay some of your financial worries.
Is Senior Living Right for Me?
Before you even undertake such a huge step for your future, you need to be sure that senior living is indeed the best option for you. This step should be carefully considered even before you think of your finances. Senior living is targeted at older adults who have retired. The misnomer is that only those with disabilities or mobility issues live in such communities, but this cannot be further from the truth. At Aston Gardens At Pelican Pointe, we have a range of senior living options: independent living is meant for people who would just like some camaraderie, assisted care is ideal for those who require assistance for daily activities, and memory care is recommended for residents with memory-related conditions such as dementia. So, whoever you are, we welcome you!
Consult a Financial Advisor for Senior Living
Speaking to professionals is extremely helpful as they can look at your finances and make a plan for your investments, savings, and assets and make a budget for you accordingly. Financial advisors are useful for anyone, especially if you are part of the sandwich generation, tasked with the responsibility of taking care of both your parents and children. You’ll need to ensure that tough decisions such as life insurance policies and even mortgages are handled by someone experienced. If you are looking for senior living options, it is never too late to speak to an expert who can give you a realistic appraisal of your finances.
Benefits You Can Tap On for Senior Living
If you have decided that you would indeed like to live in a senior living community, you are recommended to look into a plethora of benefits, discounts, and tax breaks that are offered to you. This can be a great way to get more value for less. If you are eligible for a Veterans Affairs pension or have certain disability requirements, you can tap into these resources. Medicaid is a scheme that can reduce the costs of assisted living. Do note that you should carefully check the requirements for each state as this can vary greatly.
How We Help Seniors Live Well
We take pride in helping our potential community members make the most of their finances. Thus, we have several safeguards in place. The first one is our rent-lock program, which means that your rent will not increase for 3 years. You will have an annual lease, so you are not required to make a long-term commitment. If you are not satisfied, we will even refund your community fee! We are mindful that good finances give our residents and their families peace of mind.