Are you thinking about moving to a place that fits your new needs? There are thousands of retirement communities in the U.S, you just need to know a few things before starting to look around. Below, you’ll learn what types of institutions you can find, how you can pay for them and what you should ask yourself before deciding on any of the options on the market.
What you should ask yourself before choosing a retirement community
You’ve asked the manager all the right questions to make your decision, but now you need to sit back and have an honest conversation with yourself…
Will my grandchildren like to come here?
Look for amenities that are children-friendly like pools, playgrounds and swings. Also ask what’s the policy regarding children staying the night.
Do I find the activities interesting?
Painting lessons, zumba sessions and board games in the afternoon… do you think you’ll take part in any of the activities offered? Compare activities offered in each community before deciding.
Can I age in place here?
Ok, so now you feel quite independent, but can you imagine growing old here and feeling content? Is this a retirement community that offers meals in case you don’t feel like cooking? Do they provide transportation? Though it may seem pointless now, you may require these services in the future.
Types of Retirement communities
This type of community let’s you have a stress-free life by alleviating some of the loads of the home like doing the laundry and the housekeeping. Many retirement communities for independent living also include meals.
This is basically a community that caters to those wanting to bridge the gap between independent living and a nursing home. So you’ll get the best of both worlds: help for house chores and any medical attention, as well as the privacy and independency you desire. Plus, they’re usually cheaper than a nursing home.
- Nursing care: It will usually cost you an additional fee to have daily nurse care but it may become necessary in time.
- Memory care: Old age sometimes comes along with memory-related diseases, so having a professional trained to deal with this is fundamental.
Types of payment
As the name suggests, this form of payment basically let’s you pay a fee for every additional service you use, be it transportation, housekeeping or nurse care. Though fix monthly payments are a little steeper, it’s best if you want to have control over your expenses and be able to limit your budget if it’s necessary.
This form of payment is most common for continuing care retirement communities. When entering the community, you’ll have to do a large up-front payment and then on, pay monthly installments that will be calculated depending on your age and the level of assistance you need. If, in time, you require more assistance, you’ll have to pay an additional fee.
The insurance model requires a large up-front payment that will cover future medical expenses. You also have to pay monthly fee that will be estimated considering your age and health condition.