How to Finance Your Stay at Resort Lifestyle Communities

Aging in place is becoming increasingly important for many American families. According to an AARP survey, more than half of Americans aged 50 and older plan to remain in their homes throughout their aging journey. And its no surprise whyaging at home offers familiarity, comfort, and, with proper planning, can be a more economical option that promotes independence for longer.However, the decision to age in place comes with its own set of challenges, particularly financial ones. Rising healthcare and long-term care costs make early and open financial planning crucial for families.If your parent or loved one is considering aging at home, this guide offers practical tips to support their independence while avoiding unnecessary financial strain.1. Start the Money Conversation EarlyTalking about finances with aging parents can be uncomfortable, but its an essential step to ensure their comfort and security. Approach this discussion with empathy and openness, focusing on how you can work together to maintain their quality of life.Here are key topics to cover:Income Sources: Discuss pensions, Social Security benefits, and retirement savings like 401(k)s or investments.Monthly Expenses: Understand their current spending and where adjustments might be needed.Future Costs: Highlight potential costs like home modifications, in-home care, and medical expenses.Creating a clear picture of their financial standing helps families plan effectively and reduces future stress.(Need help starting this discussion? Check out our blog, Tips for Convincing Aging Parents to Accept Help.)2. Understand the Costs of Aging in PlaceWhile aging at home is often more affordable than senior living facilities, its not without significant costs. For context, senior facilities can cost $4,500 to $5,300 per month on average, according to the National Council on Aging.Aging at home avoids some of these expenses, but families should still anticipate:Home Maintenance and Modifications: An AARP study revealed that 52% of out-of-pocket costs for aging at home go toward maintenance and accessibility updates, such as grab bars, ramps, or stairlifts.In-Home Care: Costs for personal care or medical support staff vary depending on the level of assistance needed.Medical Emergencies: Unexpected healthcare needs, especially for conditions like dementia, can lead to surprise expenses.Understanding these costs early allows families to budget appropriately and avoid financial shocks.3. Explore Long-Term Care InsuranceGiven the high cost of long-term care, investing in a long-term care insurance policy may be worth considering. These policies can cover in-home care, nursing services, or assisted living facilities, reducing financial stress when care needs arise.Timing Matters: The earlier you purchase a policy, the more affordable it will be.Evaluate Carefully: Not all policies cover every type of care, and premiums can be expensive.If insurance isnt an option, families can explore alternative strategies, such as hybrid insurance plans that combine life insurance with long-term care benefits.4. Prioritize Home Safety ModificationsCreating a safe living environment is key to helping your parent stay independent at home. Start with basic home modifications:Install grab bars in bathrooms.Add ramps or stairlifts for improved mobility.Ensure good lighting throughout the home to reduce fall risks.These changes can cost anywhere from a few hundred to several thousand dollars but are crucial for safety and peace of mind.Beyond modifications, consider investing in medical alert systems or fall-detection technology to provide an added layer of security.5. Plan for In-Home Care NeedsAs your parent ages, their care needs may increase. Early planning ensures that youre ready for the transition:Start Small: Part-time help from a home health aide may suffice initially, covering tasks like meal preparation or light housekeeping.Scale Gradually: If full-time or overnight care becomes necessary, families should prepare for costs that can exceed $100,000 annually.For lighter support, consider intermediary services like Naborforce, which connects aging adults with Nabors who assist with everyday tasks, such as transportation and grocery shopping. These services can extend independence and delay the need for more intensive care.6. Understand Medicare, Medicaid, and Additional ResourcesNavigating government programs can be daunting but essential for offsetting care costs:Medicare: Covers limited short-term in-home care, typically after a hospital stay, but not long-term care.Medicaid: Offers comprehensive coverage for long-term care, though eligibility is income-based and requires a detailed financial review.Additionally, research state-level programs, veterans benefits, or caregiver compensation opportunities that may be available in your area.7. Stay Flexible and Plan for the UnexpectedEven with careful planning, caregiving can come with unexpected twists, from sudden health changes to financial surprises. Build a cushion into your budget to account for emergencies and remain flexible in your approach.ConclusionHelping your loved one age comfortably at home requires careful planning, open communication, and the right resources. By addressing finances early, making necessary home modifications, and utilizing services like Naborforce, families can create a supportive environment that fosters independence and comfort.Aging at home is not just a choice; its a commitment to ensuring your parents dignity and quality of life. With a solid plan in place, you can navigate this journey together, providing your loved one with the care and security they deserve.And when you need a helping hand, remember that Naborforce is here to support you every step of the way.

Managing your finances can feel daunting, especially as lifes expenses add up. But with the right strategies, you can take control, stretch your dollars, and enjoy peace of mind. Here at Seniors Helping Seniors, we believe financial independence is empowering, and were here to help! From grocery savings to solar panels, these practical tips will guide you toward a brighter, more secure future.1. Shop Smart and Save at the Grocery StoreMany grocery stores offer senior discountsan easy way to save on everyday essentials. Pairing these discounts with meal planning can help stretch your weekly budget. Need a hand? A Seniors Helping Seniors caregiver can assist with planning nutritious meals while keeping costs down.2. Tap Into Free or Low-Cost Community ResourcesYour community likely offers a variety of free or low-cost services designed for seniors. Think meal delivery programs, recreational activities, or transportation services. Staying active and connected doesnt have to break the bank, and these resources can add tremendous value to your lifestyle without adding to your expenses.3. Take Advantage of Senior DiscountsFrom restaurants to retail stores, discounts for seniors are everywhere! Many establishments offer lower prices or special deals for older adults. Whether its a favorite coffee spot or a hardware store, these small savings add up, making it easier to enjoy your favorite things while staying within your budget.4. Use a Budgeting App to Track Your SpendingSimplify money management with a budgeting app. These tools make it easy to monitor your spending on groceries, utilities, entertainment, and more. If technology feels overwhelming, your caregiver can guide you through setup and show you how to track your finances effectively. Its a small step that leads to big financial clarity.5. Automate Savings and Bill PaymentsAvoid late fees and grow your savings by automating your finances. Set up automatic transfers to your savings account or schedule recurring bill payments through your bank. This hassle-free approach helps ensure your bills are always paid on time, leaving you more time to focus on what matters most.6. Work With a Caregiver for Personalized SupportA Seniors Helping Seniors caregiver can be your budgeting buddy. From spotting local discounts to helping you navigate government programs, your caregiver can provide personalized assistance. Together, you can create a financial plan that fits your needs, so you can spend less time worrying and more time enjoying life.7. Save on Energy with Solar PanelsIf youre ready to invest in long-term savings, consider solar panels. They harness renewable energy, reducing your electricity bills and your carbon footprint. With available tax credits and rebates, going solar might be more affordable than you think. Plus, its a great way to contribute to a greener planet.A Brighter Financial Future AwaitsYour golden years should be filled with joy, not financial stress. These tips are designed to help you budget smarter and save more, empowering you to live life fully and confidently. If youre feeling overwhelmed, our Seniors Helping Seniors team is here to help. With expert guidance and a caring approach, well work alongside you to create a plan that fits your life.Lets tackle those finances togetheryouve got this!Seniors Helping Seniors Making Life Easier, One Step at a TimeFor more tips and support, visit our website or contact your local Seniors Helping Seniors office.

AltaVita Senior Residences is a dream come to fulfillment for the Macy Family. The longtime Longmont locals desired a way to give back to the community in which they grew up. And what better way to deliver on that commitment than to provide a multigenerational housing opportunity for Colorado families: three levels of continuing senior care on one campus in an unmatched, upscale environment. Filling a niche for older folks who want a place to call home for years to come, AltaVita has thought of every lifestyle element that seniors desire and deserve in an adult living community. Here a foundation for a brighter future is built on a unifying philosophy: Always put the resident first. This means providing for all aspects of the aging process 24 hours a day, 365 days a year. People are living longer and healthier lifestyles, and theyre remaining active, says Linda Berens, the campus Executive Director. Because of that many are looking for a multi-tiered campus offering continuing care within the familiar lifestyle. From involving family members in each residents life to creating a secure residence for those with advanced memory-related illnesses, AltaVitas well-designed campus and comprehensive services are built from the ground up to address and enhance every moment of daily living. One AltaVita residents family member said it best recently: I cant truly convey the appreciation I have for all that you have done. You have all been such a blessing to my mom and our family. The AltaVita team holds one another to a higher standard, which honors the important work they do, assisting the people who need them most. Enrich and enhance the lives of everyone we serve with respect and excellence: the AltaVita mission is confirmed daily by all the smiling faces. Three levels of care on one campus AltaVitas Longmont campus consists of the Memory Care Community, which opened in 2012; the Assisted Living Community, which followed in 2016; and the Independent Senior Living Community, which opened in June 2019. By building the community in three phases, planners have been able to thoughtfully design each building with residents in mind, taking into consideration the type of care they need and the amenities that will best suit them, explains Don Macy, owner.Memory Care Dr. Haleh Nekoorad-Long, M.D., a certified geriatric psychiatrist, is the medical director of AltaVita Senior Residences and works primarily with aging adults and issues regarding dementia, depression, and bipolar disorder. Recognized by the Alzheimers Association as a Leader in Dementia Care, the AltaVita Memory Care Centre is setting a new standard in Colorado for exceptional care for people with memory-related issues. AltaVita Memory Care Centre runs an adult day program, with respite services in suites specially designed for residents with Alzheimers and dementia. Additionally, care is customized for every residents level of dementia, ranging from acute medication management to the sense of freedom that comes with visiting AltaVitas beautiful garden patios and spacious, secure courtyard.Assisted Living With access to the same welcoming outdoor landscape, the AltaVita Assisted Living Community offers an upscale service focused intention. On the main level a great room welcomes visitors with a cozy fireplace, tavern, bistro and ice-cream parlor, and plentiful seating areas. The second floor overlooks the great room and features a large community room for varied activities as well as a comfortable lounge. Inclusive to the Assisted Living lifestyle are three meals every day, housekeeping and laundry services, social and recreational activities, 24-hour staffing, medical transportation, and emergency and nurse call systems. Independent Senior Living This is AltaVitas newest addition to the campus, a community for active adults who would like the enrichment of community life free of the responsibilities of home repairs. This maintenance-free lifestyle, including housekeeping, dining and transportation services, is designed to maximize that freedom and minimize those pesky daily duties. The new three-story building contains 84 stylish apartments with nine different floor-plan designs ranging from one bedroom, one bath to two bedrooms plus den and two baths. All include full kitchens, walk-in closets, large showers, washers and dryers, and private patios. The independent lifestyle program includes top-notch services and amenities like a full-service salon, fitness center, wellness programs, Tai chi classes, bistro and bar, housekeeping, and restaurant-style dining room. And when the outdoors beckons there is easy access to hiking, biking, and walking trails. On behalf of the family, we wish to extend our gratitude to such an excellent place for Vern to live, report family members of the experience of their loved one at AltaVita. The friendliness of the staff is beyond compare. We are very impressed with the quality and freshness of the food; the execution of meals; the presentation of such meals.Whole-life WellnessAltaVita believes one of the most important aspects of maintaining good mental and physical health among an aging population is lifestyle. And thats where AltaVita really shines. Supporting every part of the individual, AltaVita subscribes to Whole-Life Wellness. The methodology is envisioned to enhance residents health through seven critical aspects of wellness: social, emotional, spiritual, environmental, vocational, physical, and intellectual. For more information on AltaVitas progressive approach to maximizing the lifestyle of seniors, visit altavitaliving.com or call 888.745.8268 to schedule a free tour.