Housing Options
Description:
As we age one needs to consider the overall comfort in his/ her home. This video introduces the different housing options one should consider and plan for, in addition to some home safety tips. -Source: Legg Mason, Johns Hopkins School of Nursing In fact, according to the Bureau of Labor Statistics housing costs take up to 36% of one’s income for those of 75 years old.
Questions:
- If you were healthy and your spouse required a move to assisted living or a skilled nursing facility, have you considered the impact on your retirement assets?
- Do you have family or other support available nearby?
- What type of amenities would be most important to you?
- What social, educational and spiritual activities would you like to continue to enjoy?
- How is the lighting around the home, garage, driveway?
- How many steps from the entryway to the main living room or to the sleeping quarters?
Light example – is living single and friends with the neighbors, turn on a light each evening to let them know you are ok.
Financial Plan include alternative housing options
- Independent living communities
- Continuing Care Retirement Communities (CCRCs)
- Assisted living facilities
- Skilled nursing care
John Wenzel | Archvest Wealth Advisors