The Art of Living Blog

Your Financial Guide to Senior Living

Senior Living | 08/28/19


Blog image

Making the choice on where to live during your retirement years is a multifaceted financial decision. While “aging in place” in life-long homes where the mortgage is paid off may seem to be the ideal solution for the majority, AARP finds that the cost associated with potential modifications to ensure safety in the house can be burdensome. Plus, considering the cost of property maintenance and upgrades, owning a home can be overwhelming and result in more stress than other options. And, if healthcare needs should change, you’ll want a cost-effective plan in place.

That’s when Stonebridge at Montgomery comes in. As a continuing care retirement community (CCRC), we offer a maintenance-free lifestyle and security in knowing your needs will be taken care of, now and in the future.

Retirement Costs are Easy with a CCRC

Deciding on a CCRC means choosing an engaging, vibrant lifestyle with comfort in knowing a plan is in place for your future. Not only will your predictable monthly payment make financial planning that much easier, you’ll also enjoy access to a multitude of amenities, a delicious dining experience and maintenance-free apartment living. Free from the worry of owning a home, your time can be spent enjoying activities that help you achieve a happier, healthier life. You may even find that the cost of living here compares favorably to what you’re paying now, with all of the above conveniences and more.

An added financial advantage of a CCRC is the ability to transition seamlessly from one level of care into another as needed, such as from an independent living option to assisted living, rehabilitation, skilled nursing or memory care services. We offer this additional benefit by promising lifelong care through our Lifecare option, which guarantees residents the care they need, for as long as they need, with predictable monthly payments.

After deciding that a move to a CCRC is a good financial decision for you, the next question comes to mind: how do I afford this? Thankfully, there are a variety of options for you to consider when making the move. The most common ways include personal income and savings, insurance policies or even using a reverse mortgage. Considering there are many options that suit various financial situations, it’s best to discuss your options with your financial advisor or one of our trained sales counselors to find the best fit for you. We always consider if both short-term and long-term financial goals are viable, so you will stay financially comfortable now and in the future.

Talk to Financial Experts at Stonebridge at Montgomery About Senior Living Costs

If there’s one thing our residents say, it’s that they wished they moved in sooner. Of course, this is a significant financial decision, but once you make the choice that a continuing care retirement community is for you, take that leap of faith and start the conversation. Contact us today to talk to a financial advisor – you’d be amazed at how well a senior living community can work into your retirement budget.