Lisa Baxter, Aging Service Specialist
What Are Some Considerations for Senior Citizens Who Plan to Move?
PART 2 of 2
(part 1 was in the January 13 issue of the D.C. Leader.)
Two of the largest determinants of where a Senior may plan to move are their health status including whether they need assistance and what type of financial support they may need. If the Senior is married often times they may be able to live independently, however their spouse may need more support than they can provide. The cost of Independent Living Communities are on the average $2,800/month. The cost of Assisted Living can run over $4,000/month and at the highest spectrum are Nursing homes at well over $7,000/month. To fund Senior Living, Seniors use assets such as retirement funds, sale of property, savings accounts, investments, Social Security income and rental of property to name a few. Some Seniors may also have a part-time job to supplement ...