Some of the most frequently asked questions related to senior care revolve around the financial elements; our residents and families begin the decision-making process often unsure about assisted living costs and how to manage the costs of assisted living over the long haul.
We offer a list of financial resources on Senior Lifestyle’s website and this blog post, where we include resources to help clarify any questions you may have about assisted living costs while providing a few additional tips on long-term financial planning.
Just as every resident is different, we recognize that each financial situation is unique; there simply is no one-size-fits-all cost calculator. With that in mind, we have created a comparison calculator tool to help you figure out how assisted living costs associated with living in one of our communities would affect your bottom line. While this tool cannot provide an exact price, many of our families have found it to be a fantastic guideline for planning and budgeting purposes.
If you require more detailed assistance, or are curious about your particular situation, our solutions experts are happy to help. Just check for one of our communities in your area or contact a Senior Lifestyle community adviser online. In addition, Senior Lifestyle has partnered with Elderlife Financial, a company that helps families craft financial plans suited to their individual needs. Our corporate partner is recognized as “the nation’s leading senior financing and solutions company [for] … home care, downsizing, senior housing and payment needs.”
Senior Lifestyle has also partnered with Life Care Funding, a company that aids in the process of using life insurance policies to defray the cost of assisted living. Keep in mind that there is no fee or obligation associated with applying for this helpful and unique service.
The government is another great resource for assisting families with the cost of moving into a retirement community. The Department of Veterans Affairs may be able to provide assistance, and we always suggest checking the IRS’s guide on medical expenses.
We also have many residents who find companionship to be the best way to support assisted living costs. Living with a roommate can help cover costs, and many of our residents have become friends for life by sharing their daily routines. Senior Lifestyle can help match you or your loved one with another resident based on compatible interests, backgrounds, and personalities.
The decision of transitioning into a new home is multifaceted, and our goal at Senior Lifestyle is to assist in that process by providing as many resources as possible to help you prepare and to ease any financial burdens. We also invite you to reach out if you have specific questions about the cost of assisted living.