Neither your independence nor your lifestyle should have to be compromised when you retire. If you’d like to remain engaged in your interests and hobbies, residing in senior independent living in Cave Springs, AR is a great idea. You won’t have to worry about mowing the lawn, doing household maintenance, or doing heavy cleaning anymore. You’ll be able to enjoy your golden years in style; relaxed, but still active.
If you’ve already considered making a move such as this but are concerned about sticker shock, the following information may be helpful. More so than you may think, many of today’s independent living communities are actually quite affordable.
What to Expect
Before moving into a community, you may be expected to pay an entrance fee or a “buy in”. This is on top of service fees and rental fees that are charged monthly. For some activities and amenities, some retirement communities charge extra. If you want to save money but still enjoy a stylish lifestyle, look for a retirement community that includes numerous amenities within its pricing. They are out there!
In addition to your apartment, rent paid on a monthly basis should cover the following amenities and, hopefully, more:
- Chef-prepared meals
- Weekly housekeeping
- Wi-Fi
- Utilities
- All activities and events
Independent Living Payment Options
You’re investing in your future when you buy into an independent living community. It’s your retirement, and you should be able to live it in a manner you see fit. There are a handful of options you may be able to explore when it comes to paying for a retirement community:
Insurance
Ordinarily, private health insurance, Medicaid, and Medicare do not cover independent living. A portion of your expenses may be covered if you have a long-term care insurance policy (things like moving, meal preparation, housekeeping, and daily living activities, for example, may be covered). To find out what kind of coverage is included in your policy, check with the provider of your insurance.
Supplemental Security Income and Social Security
Starting at age 62, you can start collecting Social Security benefits if you’ve paid in while you were working and are eligible. For SSI benefits (supplemental security income), you may also be eligible. Check with your local administration for Social Security.
Annuity Payments
You may have invested in some type of retirement fund if you worked for many years. Pensions, IRAs, 401(k)s, and other retirement funds can give you predictable monthly disbursements when rolled over into annuities. Independent living apartment monthly rent can be covered in this manner.
Personal Finances
In most cases, family funding or personal funds are used to pay for retirement community living. In some cases, people actually save money living in a retirement home when the expenses are weighed against all of the combined expenses they were experiencing while owning their own home. When you add up the following expenses typical of homeownership, it gets expensive fast:
- Home maintenance and repairs
- Groceries
- Utilities
- Mortgage payments or rent or HOA fees
- Medical care
- Entertainment
- Transportation or upkeep of a car
- Internet and cable… and more
Ready to Explore the Benefits of Independent Living?
Our Independent Living community offers you the opportunity to retire in style. In a plush setting, you can lead a maintenance-free existence. No more cutting the lawn, no more heavy housekeeping, and no more household repairs. You’re finally free to enjoy life to the fullest. Take part in many opportunities for socialization through regularly scheduled events and activities. Pursue a new fitness regime with others courtesy of our health and wellness programs. Our abundant amenities make it possible for you to get the absolute most out of retirement every day.
