Please reload

ARCHIVE

Please reload

BLOG TAGS

CATEGORIES

CAN YOU AFFORD TODAY’S SENIOR LIVING COMMUNITIES?

October 2, 2014

As you or your parents age, one of the most important and difficult decisions is to determine where you will live. Many older people prefer to stay in their homes,but sometimes they cannot take care of themselves adequately. They might even find that they prefer to live with other people their age in a senior living community that offers support for their changing needs.

TYPES AND COSTS OF SENIOR LIVING

The type of senior living community you may choose depends in part on your health and your budget. The prices for senior housing vary according to your local market and to the level of services and amenities provided.

Senior housing ranges from independent living communities for people who can take care of themselves to assisted living facilities that provide help with the daily routine and some healthcare to a skilled nursing facility—or a continuing care community that offers both types of care.Assisted living facilities can cost $2,500 to$6,000 or more per month, according to Jim Speir, owner of Speir Financial in Southfield, MI.

“The monthly fees in some communities include meals, but sometimes residents are asked to over their phone and cable bills or other incidentals,”says Dan White, owner of financial planning firm Daniel White & Associates in Glenn Mills, PA. “You need to ask whether a facility is all-inclusive or if you need to pay for services.”

In addition, there are age-restricted communities of homes typically available for purchase rather than rental by people of a certain age. There’s a wide variety of these homes, from affordable places with no frills to pricier, luxurious digs with lots of community amenities.

DOWNLOAD FULL PDF >>

Share on Facebook
Share on Twitter
Please reload

CONTACT US

Pennsylvania Office

P (610) 358-8942

F (610) 358-8943

Delaware Office

P (302) 449-0111

F (302) 449-1888

OUR LOCATIONS

51 Woodland Drive
Glen Mills, PA  19342


291A Carter Drive
Middletown, DE 19709

SOCIAL MEDIA

CONTACT US

Check the background of your financial professional on FINRA’s BrokerCheck.

This material has been prepared for informational and educational purposes only. It is not intended to provide, and should not be relied upon for, accounting, legal, tax or investment advice. Please consult with a professional specializing in these areas regarding the applicability of this information to your situation.

Andrew Wood, Dan Simon and Alison Slezak are Investment Advisor Representatives. Advisory services are offered through CoreCap Advisors, LLC., a Registered Investment Advisor. CoreCap Advisors, LLC and Daniel A. White & Associates, LLC are separate & unaffiliated entities. 

© 2018 Daniel A. White & Associates, LLC. All right reserved. Built by Atwood Sites.

CALL US TODAY!
PA OFFICE: (610) 358-8942
DE OFFICE: (302) 449-0111