Independent living communities are ideal accommodations for seniors who may need a little extra assistance in their day-to-day activities - or just don't feel like maintaining a big, creaky house anymore - but many older adults tend to stumble when it comes to financing the move.
However, with a few savvy saving and spending decisions, one can help ensure that the move is as smooth and painless as possible.
Caring.com recommends first using the internet to get an idea of the general price of the community and then starting the planning from there.
Many public benefits programs can help supplement the expense. Medicaid, veteran benefits, cash and counseling and long-term care insurance can all provide prospective residents with safety cushions that can help guarantee that the cost of living at a retirement living community is comfortable.
Families may also help chip in - after all, seniors did raise them on their own dime for at least 18 years. They could also rest assured that the new home will provide an older adult with the company and care that parents may be craving, while simultaneously making it easier for family caregivers to focus on their own household.