The decision to relocate to a retirement community is never easy. Our emotions attached to the house besides uprooting oneself from familiar surroundings can be a challenging decision to make.
I always suggest seniors to do a needs gap analysis before deciding. We normally compare the financial implications of shifting to a senior living facility but rarely do we put a value to the safety, well-being and health care. Living amongst like-minded people in a vibrant sheltered housing can have it’s own advantages.
To give an idea on the comparative expenses, please see the slide below showing a typical middle class home expenses.
Hope it can help seniors who are unable to make an informed decision. The costing are generic and would differ from city to city and household to household.
Pankaj Mehrotra