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Planning for the Future | 05/28/19
Safety is always a top priority – even as we age. And, even though we may love the houses we’ve lived in for years, there are changes that need to be made to ensure our continued well-being. Slip-resistant shower and tub surfaces, non-slip flooring and wider doorways are just a few modifications that need to be considered. And these costs add up. AARP explored the idea of staying in a long-time home and found that, even if the mortgage has been long paid off, costs of maintenance and upgrades become overwhelming and expensive.
Although “aging in place” may seem like the best plan for your retirement years, many find that choosing a continuing care retirement community (CCRC) turns out to be the soundest financial decision. Worries of unpredictable home maintenance costs and property taxes are set aside, and you can take comfort in knowing your future is secure.
After deciding a move to a CCRC is the best financial decision for you, the next question comes to mind: how do I afford this? Common ways to pay for a senior living community include personal income and savings, proceeds from the sale of a home or long-term care insurance. We suggest you talk to talk to one of our trained sales counselors to find the best fit for you.
Along with living expenses, keep in mind that healthcare needs may change over time, which will impact your budget. That’s where Lifecare comes in. Lifecare is a contract option offered by Crestwood which guarantees lifelong care with predictable monthly payments, at rates similar to those paid in independent living.
There are many options when it comes to paying for your senior living community. An added advantage of moving to a CCRC is that it allows you the freedom you want to maintain a more active and social lifestyle. Freed from the financial obligations of owning a home, you have more time to enjoy the multitude of activities and amenities offered that allow you to life a happier, healthier life.
Howard and Jean Bartlet made the decision to move to Crestwood Manor based on their desire for a secure future. They share, “[We] believe that people should educate themselves about their retirement living options before there’s a problem and look to move to a place like Crestwood earlier so they can enjoy all the amenities and friendships.”
To help decide how to fund your decision to move to our senior living community, Crestwood Manor offers our free Retire Your Way Guide. Here, you’ll learn about the many retirement options that exist today and be introduced to the CCRC model. Topics include Financial Features of a CCRC, CCRC Contract Options and a Cost Calculator. Or, contact us today to schedule your personal tour and meeting.