8 ways to help with the emotions of moving

As you consider where life will take you next, you may be contemplating a move to an independent living community in Pennsylvaniaand for good reason! This state is celebrated for its retiree-friendly policies, including no state tax on social security and other retirement incomes such as 401(k)s and IRAs, making it an ideal location for senior independent living.Does this move make sense for you or your loved one? Heres what you need to know to feel confident about your decision.Benefits of Living in PennsylvaniaPennsylvania is a top destination for retirees looking for independent living combined with significant financial advantages. The states commitment to providing a retirement-friendly experience is evident through its favorable Pennsylvania retirement taxes and the many senior living options.Pennsylvania Cost of LivingOverall, the cost of living in Pennsylvania aligns closely with the national average, though expenses can vary. Urban centers like Philadelphia and Pittsburgh may cost more than suburban areas like Upper St. Clair or the picturesque rural regions. These variations make Pennsylvania a flexible choice for retirement, catering to different lifestyles and budgets.Is Pennsylvania Retirement Friendly?Absolutely! Pennsylvanias approach to retirement is designed to maximize comfort and security, making it an excellent choice for anyone considering independent living. The states policies make it easier for seniors to enjoy their retirement years with peace of mind and financial stability.When Is Independent Living Right for You?The timing of moving to independent living is different for everyone. However, many seniors regret not moving into their community sooner. While there may be some apprehension in the face of such a big life change, moving to a senior living community as soon as possible can be beneficial for many reasons. As our care needs evolve, relocating to a Life Care community that provides comprehensive on-site health servicesincluding memory care, skilled nursing, and assisted livingcan offer enduring security and comfort. Choosing this type of community means you wont have to move again if your needs change, allowing you the comfort and familiarity of living in the same community.The Cost of Independent Living in PennsylvaniaCosts for independent living in Pennsylvania can vary significantly by community type and the services, amenities, and care provided. Some communities require a one-time entrance fee alongside monthly payments to secure priority access to comprehensive care options in the future. When evaluating different communities, consider the quality of accommodations, the range of services offered, and the levels of care available, all of which are crucial for getting the most from your long-term investment. Its also important to factor in the rising healthcare costs, which can impact overall expenses.In addition to care and accommodations, another significant benefit of independent living is the consolidation of expenses. Most communities bundle care, specific dining options, amenities, and other services into a single monthly payment, simplifying financial management and reducing the burden of handling multiple bills.Costs and FeesThere are over 700 retirement communities in Pennsylvania to choose from. These communities range from small rental options to continuing care retirement communities and senior living buy-in options. Each community will have its own fee and payment structures. Some may require an upfront entrance fee in addition to monthly fees. Monthly fees often include utilities, maintenance and access to on-site amenities and services. Choosing the Best Independent Living Community in PennsylvaniaMoving to a senior living community is a big step and may feel overwhelming, especially if youve lived in a large family home for a while. However, moving to a new community opens up a world of possibilities. Community life is all about supporting your independence, not limiting it.  LocationChoosing the right independent living community means finding a place that aligns with your lifestyle and personal needs. When exploring independent living options in Pennsylvania, consider how each communitys location will impact your daily life.Is it important for you to be close to family and friends? Staying nearby can make it easier to maintain those vital connections and receive support when needed. Alternatively, consider how the location might influence your access to city amenities. Will you miss the vibrancy and variety of events and activities available in a big city if you opt for a quieter suburban setting?Community ServicesEach communitys services and amenities also play a crucial role in ensuring your comfort and satisfaction. Look for communities that not only meet your current needs but are also capable of adapting to your future needs. This can help support a seamless transition through different phases of retirement.Having a checklist of questions and things to consider can also be helpful as you tour different communities. This pre-planning can help you feel more confident and comfortable as you determine the best fit for your lifestyle.Why Choose Friendship Village of South Hills?At Friendship Village of South Hills, upscale amenities and expert care come together to enhance your lifestyle. Enjoy personalized health and wellness services, diverse entertainment options, and essential services like housekeeping and maintenance. The result? A carefree living environment that lets you live fully each and every day.Our supportive community offers numerous social events and activities to build connections and help combat loneliness among seniors, but dont just take our word for it. We invite you to contact us today to schedule a visit to experience Friendship Village of South Hills for yourself. Were looking forward to meeting you and answering any questions you may have.

In the popular imagination, receiving an inheritance always sounds like a good thing after all, who doesnt want a financial windfall? And inheritances can certainly be life-altering events. But they can cause challenges, so youll want to help your heirs be prepared.            To assist in this preparation, try to address some key questions affecting your heirs:             Do they know whats in your estate plans? Your family and other heirs will be much better prepared to deal with an inheritance if they know what to expect. Thats why its so important that you share your estate plans with everyone involved. You need to let them know the wishes and decisions youve expressed in your will and other legal arrangements, such as a living trust. Of course, sharing this information doesnt necessarily mean that all your heirs will be completely satisfied with your choices but at least they wont be surprised, and perhaps will be less likely to cause disputes when the time comes to settle your estate.             Will they know what to do with the money or other assets? You may be planning to leave your grown children a sizable amount of assets, possibly including cash, stocks, real estate, IRAs, 401Ks or other types of valuable personal property. But this inheritance brings with it several possible questions: Do your heirs already have an investment platform ready to accept inherited stocks? If you do leave behind rental property or a vacation home, can it be easily sold? These types of issues are generally not hard to resolve, but the more prepared your heirs are for their inheritance, the quicker they can take whatever actions are needed.               Are they prepared to handle any taxes that may result from the inheritance? Unless you have a very large estate, your heirs likely wont face federal estate taxes. (In 2024, the first $13.61 million of an estate is exempt from federal estate taxes.) However, other types of taxes may apply. A few states assess state inheritance taxes, and your heirs could incur federal and/or state income taxes when they withdraw money from inherited assets funded with pre-tax dollars, such as some retirement accounts. They could also face capital gains taxes when they sell inherited assets, such as stocks, for more than they were worth at the time of the inheritance. In any case, inheritance-related taxes can be complex, so you and your family and other heirs should discuss these issues with your tax advisor.             Will they be liable for any outstanding expenses? If you have developed a comprehensive estate plan, it's unlikely your heirs will be on the hook for any outstanding expenses, such as credit card balances or funeral costs. If you do still carry a mortgage, though, and you are planning on leaving your house to your heirs, they may want to be prepared to act quickly to sell it.            When leaving an inheritance, theres a lot involved emotionally, financially and legally. So, do whatever you can to make the entire process as easy as possible for your loved ones. By communicating your wishes regarding the inheritance, and by considering all the issues that may arise, you can go a long way toward achieving the outcomes you desire. Chad Choate III, AAMS828 3rd Avenue WestBradenton, FL 34205941-462-2445chad.chaote@edwardjones.comThis article was written by Edward Jones for use by your local Edward Jones Financial Advisor.

If youre a parent, you want to do everything you can to help your children succeed in life. Therefore, you might think that one of the best things you can do is to save for your childrens college education. And this is certainly admirable, but could it conflict with your ability to prepare for another key goal your own retirement?Of course, this would not be a problem if you had unlimited means, but most of us dont fall into that category. So, given the financial resources and income you do have, how should you approach the college-versus-retirement issue?Fortunately, its not necessarily an either-or scenario. However, it may make sense to prioritize saving for retirement over college, for two reasons.First, your children have a lot more time to pay for college than you have to save for retirement. In addition to any grants or scholarships your children may receive, they might need to take out loans. While its a good idea to keep this debt load as manageable as possible, its also true that most student loans can be repaid over a long period of time.And heres the second point: One of the best gifts you can give your children is to be self-sufficient in your retirement. You could easily spend two, or even three, decades as a retiree, so you will need to build considerable financial resources to pay for all those years. Your adult children will have their own financial needs to address, so youll be doing them a great favor by relieving them of any financial responsibilities on your behalf. Taking these factors into account, you may want to direct most of your saving and investing efforts toward achieving a comfortable retirement. Consequently, think about putting away as much as you can afford into your IRA and 401(k) or other employer-sponsored retirement plan. Even with this focus on retirement, though, you may find opportunities to save and invest for your childrens education. For example, if you receive bonuses or income tax refunds, or your salary goes up, or youre able to free up money from your budget by reducing your debts, you could use these funds to invest in an education savings vehicle, such as a 529 plan. When you invest in a 529 plan, your earnings and withdrawals are federally tax free, provided the money is used for qualified education expenses such as tuition, room and board, books, and computers. Depending on where you live, you may also get some state tax benefits from your 529 plan. And a 529 plan isnt just for college it can be used for K-12 private school tuition costs, plus expenses from qualified apprenticeship programs, such as those found at trade schools eligible for Title IV federal student aid.It might not be easy to save and invest consistently for your retirement and your childrens education. But both goals are worthy after all, retirement can last a long time and college is expensive. So, try to develop a financial strategy that can allow you to make progress in both areas your efforts may well be rewarded.               Chad Choate III, AAMS828 3rd Avenue WestBradenton, FL 34205941-462-2445chad.chaote@edwardjones.com This article was written by Edward Jones for use by your local Edward Jones Financial Advisor.