How to Pay for a Move to Senior Living

    Published: 06-16-2009
    Views: 11,235
    Mark Francis of Emeritus Senior Living provides a simple overview of financial solutions for people exploring a move to senior living. The video covers some of the newer, more innovative, or often overlooked financial options available, such as senior living lines of credit, converting a life insurance policy, Veteran’s benefits, and roommate living. Mark will explain how these options and strategies can help you or a loved one afford a senior living arrangement without straining your resources.

    Mark Francis: Hello! My name is Mark Francis's from Emeritus Senior Living. When the time comes to move a loved one into an Independent or Assisted Living Community, it can be stressful for a number of reasons. Beyond all the emotions and logistics of this transition, you also may be worrying about the financial aspects of this move. Most people try to pay for their senior living care out of their own pockets with private funds, which can be very limited for retirees. The good news is that there are a variety of financial solutions nowadays that can help them afford this new living arrangement. Many of them using assets that haven't been considered are no longer useful. Remember, costs can vary significantly depending on the location, services, amenities and size of the community. Senior living costs tend to parallel housing cost in the surrounding neighborhood. Once you've identified your location and your living and care needs, you will have information you need to start your search for funds.