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Preserving Your Independence in Retirement

Preserving Your Independence in Retirement

December 14, 2022
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As you near retirement, this could be a convenient time to consider moving into and living in an independent care facility. This housing option, or one like it, could allow you to preserve your independence while providing the resources and amenities you want, now and in the future.

What is Independent Living for Seniors

Independent living communities offer a housing solution for people around the age of retirement that allows them to maintain recreational freedom and social living while adding in the convenience of services like housekeeping, social activities, transportation, and other assistance. Resident options can vary greatly so finding a solution that works for you can be simpler than you might expect. Living options range from private homes to apartments to suites. In independent living facilities the main focus is on helping people maintain their independence for those who are self-reliant but also desire community living but don’t need daily access to nursing or personal care assistance.

Types of Independent Living

There are several different types of independent living facilities, all with different amenities and services. Depending on the level of independence you want and the services you would like in the community in which you live, you may find a few options that might work for you. A few options you might consider are:

  • Retirement homes
  • Retirement communities
  • Senior apartments complexes

Choosing Your Independent Care

Along with the different types of living facilities comes the decision of what services and amenities you are looking for in a long-term housing solution. As a way of maintaining your independence in retirement, selecting amenities can help you use the services you need without giving up your freedom. Know what your “must-haves” are before looking at retirement housing options. You might consider receiving home maintenance help, prepared meals, educational opportunities, planned social activities, onsite amenities or just a community of people, all around your age and life stage. When you’re deciding on independent care, you should also consider the future. How might your needs change as you get older? What services will become more of a priority for you to have?

Making the Transition to Independent Living

As you begin to consider this decision, use these tips to minimize your anxieties and make the transition to independent living that much easier.

  • Talk to your family and loved ones about your options.
  • Research independent living institutions in the area.
  • Compare prices and care levels for different institutions.
  • Provide yourself with enough time to make an informed decision – don’t rush into a decision.
  • Start considering what you want to take with you.
  • Talk to people who have already made this decision. They can provide first-hand knowledge.

As you’re making this transition and considering what the next several years may look like for you, contact the office to discuss how this change may impact your estate plan.

This material was developed and prepared by a third party for use by your Registered Representative. The opinions expressed and material provided are for general information and should not be considered a solicitation for the purchase or sale of any security. The content is developed from sources believed to be providing accurate information.