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Know Your Retirement Options

Know Your Retirement Options

People like having choices in life. They enjoy selecting from dozens of flavors of ice cream, or choosing from numerous musical genres to find songs that match their unique personalities. Sometimes, however, when it comes to big choices, lots of options can seem daunting. To many seniors and their loved ones, that can certainly be the case when it comes to making crucial decisions about retirement.

Some communities only offer independent living. Some only offer assisted living. Others, like Harrogate, offer a continuum of care. For younger seniors, 55-plus communities are an option. Others might choose to age in place. The real question is: What’s the best option?

While each choice is an individual one, there are some basic guidelines to follow when thinking about that next step in retirement. First, seniors should narrow down where they plan to retire. Is it close to home? Maybe in a destination city? Whatever the case, figuring out the where factor will considerably ease the pressure.

The next question seniors should consider is what they’re looking for. Seniors should try to answer this one as specifically as possible. Discussing it with family and friends, and examining various viewpoints, is helpful.

If a 55-plus community sounds interesting, consider the steps down the road. These communities are a great option for younger seniors and can provide years of happiness. It’s important, however, to create a plan for life after independent living.

The same can be said for communities that exclusively offer assisted living. What skilled nursing options are available if, or when, they’re needed?

One of the more popular choices among seniors is Life Plan Communities. Like Harrogate, these communities offer a full continuum of care, all at one location. Whether seniors move in as independent living residents, or need a little extra attention each day, they never have to move off campus, no matter what health needs arise later in life.

Many seniors say what they’re looking for is a way to age in place, or with a loved one, usually a son or daughter. When considering this option, calculate the cost of home improvements that might be necessary to accommodate unforeseen needs later in life. When planning to live with a loved one, consider the impact on their life, as well as the lives of their spouse, roommate, children or others. If these situations can work out, that’s great. However, the reality is they aren’t always best for everyone involved.

Choices are made every day, but few are as important as the ones about life after retirement. Many seniors are satisfied and happy with their decision to move to a senior living community, so it’s certainly an option to consider.