Sometimes, the hardest part about planning a move to senior living isn’t convincing your loved one of its benefits, but rather, how your family will pay for it once they agree. However, a limited budget doesn’t automatically mean senior living is beyond your reach! You may not realize that there are a number of options to help fund senior living. Here are some of the most common, as well as some quick ways to save.
Depending on your specific circumstances, these options may be able to help your budget go further:
Another way to help fund senior living is to make some breathing room in your budget. These tips can help:
And don’t forget about your loved one’s current assets as well. Consider selling or renting their home, for example. Also check into what savings, stocks, bonds, or annuities they may have to help fund senior living.
For more information about the different senior living choices available for older adults, download our Senior Living Options Guide today!