Aging in place vs. assisted living … which’s complicated

Predictably, 0 percent of people plan to age in their homes, according to data via AARP. However, planning where to live as a retiree entails considering not just the actual location of where you’ll hang your hat yet also factoring inside financial, social as well as physical ramifications of your decision.

Wanting to age at home will be a natural preference. Home feels comfortable, safe as well as easy, as well as many people probably assume which will be the more affordable option. yet will be which still the case when you take into account some of the common by-products of aging?

With age comes the general weakening of bones as well as muscles as well as a natural decline in mobility as well as energy, which could make everyday chores dangerous or impossible. While there are resources for getting help around the house, including mobile apps as well as digital marketplaces for finding service professionals, hiring help introduces a completely new set of costs, whether at a monthly or hourly rate. For retirees who need more significant help, engaging a professional homemaker may be necessary, yet keep in mind which the average monthly cost of a homemaker will be $3,994 (assuming 44 hours of care per week), according to AARP research.

The toll which aging takes on the body may also necessitate improvements to your home’s design or format. Basic home modifications — including installing grab bars, sturdy handrails along stairs, replacement rugs, better lighting as well as lever-handled doorknobs — can cost up to $10,000. Meanwhile, more extensive renovations — such as removing or reducing the height of steps, widening hallways, adding a ramp, lowering cabinets, installing no-step showers as well as installing a generator to protect against power loss — can cost up to $100,000.

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While home may be where the heart will be, living alone can also come with different age-related challenges. For example, if you need to adhere to a special diet, are you equipped to purchase as well as prepare the proper food? If you fall, do you have a way to get in touch having a family member or emergency services? If you no longer drive, will you suffer via cabin fever as well as loneliness? There are solutions to these problems (enrolling in a food-delivery program, installing a voice-activated device or using on-demand car services), yet again, everything incorporates a cost tag.

While many people might shudder at the thought of leaving home for an assisted-living facility, which’s worth weighing the pros as well as cons.

For retirees who suffer via declining health or mobility limitations as well as for whom lifestyle improvements or the expense of home renovations are not feasible, assisted-living communities can offer a certain peace of mind. The buildings as well as restrooms are designed to meet the accessibility needs of their aging residents, as well as all maintenance as well as repairs are handled by a professional. Meal planning as well as nutrition are also taken care of, as tenants are served three meals a day which are tailored to any medically restricted diets.

An assisted-living community might also make sense for people who worry about feeling isolated in older age. Most facilities have common areas to encourage socialization as well as regularly plan activities as well as outings for the residents. Plus, there will be something to be said for the camaraderie which develops among a group of people who are all in a similar situation.

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