Whether you are in retirement, approaching retirement, or just planning ahead, you should be aware of the many choices you have when it comes to where you will live. Retirement brings many new feelings for both men and women, and learning to reinvent yourself or live a new lifestyle can be hard.
You will have many options regarding your living arrangements, each with their pros and cons. Below are the available options:
- Staying Put – one of your best options may be to just stay put. Staying in the home you have lived in for years can be very comforting and familiar as you age. This option is perfect for those that want to keep the familiar in their lives, have little to no health issues, and little to no debt. In addition, selling your family home can be devastating for many after retirement. Think it through before making the decision.
- Retirement Village (community) – these villages or communities are becoming more and more popular for retirees. These communities typically are filled with active seniors, giving you a wide array of friends and entertainment, and are located in areas of warmth and sunshine. These villages or communities have several options available, from your own small home to apartments, or even shared housing. Depending on your needs and wants, you are sure to find the perfect home for your retirement, and will have the companionship of others your age.
- Multi-family Communities – if you enjoy more diversity in the area you live, then a multi-family community may be the best choice for you. While these communities have separate sections based on your age or place in life, they are located in one community, giving you a wide range of people to interact with. Retirees can live in their 55 and over section, but a few blocks over can interact with a family of six. This is a great option if you enjoy more diverse community activities with some of the same accommodations as retirement communities.
- Assisted Living and Nursing Homes – these types of living arrangements will provide you with direct care. Assisted living still has a small component of independence, however, skilled professionals are there to provide you with assistance in meals, medication, and other tasks you may find difficult on your own. A nursing home is the highest level of care that you can obtain, outside of a hospital setting. If you are in need of constant medical care, then a nursing home may be the right option for you.
As you can see, there are many options in regards to your living arrangements upon retirement. It is best to consider all of your options, looking at not only location and cost, but what type of entertainment and other people you will have around. This is just as important as the cost.
By Tammy Moorehead, CHHP for the 50 Plus Report