As we age, many of us will need assistance with daily activities. For some, the option is to try assisted living in Southeast Denver. However, paying for such care can be a daunting task. Fortunately, there are ways to make affording assisted living a possibility. Today, we will cover some tips to help you pay for a future stay in an affordable assisted living facility.
Research Your Options – Many types of assisted living facilities are out there, and their costs can vary widely. Start by researching facilities in your area to get a sense of what is available and what different options will cost. Many facilities will offer tours so you can get a first-hand feel for what living there would be like. Also, don’t be afraid to ask questions about what is and isn’t included in your fees.
Consult an Expert – For many of us, paying for assisted living will require some form of financial planning. Consider consulting a financial advisor or eldercare specialist who can help you navigate the process. They can help you determine what options are available to you and what resources you can tap into.
Consider Downsizing – One way to offset the cost of assisted living is to sell your current home and downsize. This can help you free up funds that can be used to pay for care. Downsizing might also mean lower property taxes and utility bills. Consider what is important to you in a new living situation and look for places that meet your needs and budget.
Plan Ahead – Finally, the best way to afford assisted living is to plan ahead. This means starting to save and prepare for the possibility of needing care early on. Consider long-term care insurance or setting up a fund to cover expenses down the line. Don’t wait until you are facing the need for assisted living to start thinking about how you will pay for it!