At one point in time, we all have to plan for our retirement, especially where we will live during our old age. Some people may prefer to live in a retirement community; you can view a senior living community here. Others will prefer to live with their loved ones. If you prefer living in a retirement community, you need to consider whether you can afford senior living.
Moving into a retirement community offers several advantages like connecting with your peers, access to amenities, and other recreation activities. So, let’s take a look at the average cost of senior living.
Cost of Senior Living
The cost of senior living averages between $1,500 to $4,000 if you live in an independent community. For seniors living in an assisted living facility, the average cost can range from $3,500 to $10,500 per month. The reason why the average prices tend to vary depending on several contributing factors like:
The Rising Cost of Living
According to the latest reports, Social Security recently provided American seniors with an adjustment in the cost of living of 2.8%. This adjustment was the first since 2012. While this is excellent news for seniors, this increase is offset by energy costs, the rising cost of medical expenses, and other costs that seniors have to incur. The increasing cost of living also makes it pretty difficult for seniors to pay for senior living.
The pandemic has not only affected jobs but also created a mortgage crisis. And this has taken quite the toll on most seniors, with some completely falling behind on their payments. Others are facing foreclosure. During these challenging times, most seniors turn to their family members for help. However, that doesn’t have to be a solution, especially in assisted living.
While it can prove to be pretty expensive, assisted living facilities have several benefits like:
Preventing Social Isolation
While most people may prefer a quiet environment, more than the occasional isolation and loneliness can lead to serious health issues for seniors. An assisted living facility provides you with a community where you can meet different people every day.
A lack of community can cause depression, often leading to chronic health issues like heart disease and dementia. It can also lead to unhealthy behaviors like prescription medication abuse or smoking. With a community, you can talk to someone about anything bothering you without worrying about receiving any judgments.
Every senior has different needs. An assisted living facility focuses on each person’s individual experiences, personal preferences, and unique health needs. These facilities get to know what each resident requires. And with that information, the team can make them feel at home, understand the support they require and create an optimum environment to help them feel at home.
Most assisted living facilities also offer 24/7 nursing care, mood behavior monitoring, or medication administration services.
Hands-on Help with Daily Activities
Living in an assisted facility offers you or your loved one independence in several ways, thanks to their hands-on help with daily chores. However, the support tends to vary from one individual to another. Your loved one may need assistance with bathing, housekeeping, hygiene, dressing, laundry, and dressing.
Other residents may require help moving around or support remembering small details. Assisted living facilities can help your loved one with these tasks.
Every caregiver’s top priority is to provide their patient with safety and security. Assisted living communities to ensure that the security and safety of your loved one is their top priority. You also don’t have to worry about the safety of your loved ones, as they are in perfect hands.
Assisted living facilities also have safety features that alert them when a resident requires help. They also have monitoring and responsive care for memory care residents, as they do need support remembering different things from time to time.
Access to Hospitals
Seniors require round-the-clock health care access, as they are at risk of getting sick quite easily. Most assisted health living facilities to have 24-hour nursing care on-site. These healthcare facilities provide comprehensive medical attention to all the residents despite their medical needs.
After spending most of their lives working and raising kids, seniors need that free time to relax and do what they love. They never have to worry about heavy cleaning or maintaining the yard in an assisted living facility. With nothing to worry about, they can have more free time.
The benefits of assisted living facilities outweigh the money you have to part with for these services.