Have you decided that a retirement living lifestyle would make life happier, healthier and more fulfilling for yourself or a loved one? Now that you understand the benefits, it may be time to understand the cost, including seeking advice on how the numbers are adding up.
Having the conversation and planning ahead
As Ted Rechtshaffen, President and CEO of TriDelta Financial Partners, explains in his recent article,“Here’s what is costs to live in a retirement home—and the bottom line is less than you might think,”当他向客户介绍某一地区退休住宅的价格范围时，他们常常会感到“天价震惊”。Though he explains in his article that retirement living is more attainable than people think—thanks to a number of factors他补充说，讨论一些选择很重要，比如早点退休，这样才能进行适当的财务规划。他说:“这整个话题通常不会被讨论，所以即使把问题公开出来也是一个很好的开始。”不幸的是，许多家庭觉得这个话题太难以启齿，因此，有时永远无法做出明智的决定。"
This is a sentiment echoed by gerontological social worker Dr. Amy D’Aprix, who believesplanning for our later yearsis essential to leading the retirement years we want. “Choice, control and independence are things we all want for our entire life,” she says. “Planning for and adapting in our later years can help ensure we get them—as well as adventures, fun and a life of continued meaning.”
Understanding the costs
In his article, Rechtshaffen explains that it’s important for seniors and their families to remember that the cost of retirement living can vary due to a number of different factors, including:
How much health care support you require.The morepersonal support servicesyou need to live comfortably, the larger you can typically expect the cost to be. For example, an independent senior who requires no care services and who will still be cooking their own meals won’t necessarily be paying as much as an individual who requires dedicated assisted living or memory care support.
Your preference of accommodations.Retirement residences come in all shapes and sizes, and thus so do the costs. Aspects like what type of accommodations you’re looking for (i.e. a studio suite versus a two-bedroom apartment or townhome) and what amenities are available will affect the price.
Location.Geography can play a big factor when it comes to how much it costs to live in a retirement home. For example, you’ll find a residence in a rural setting may come with a more modest price tag than a residence in downtown Toronto or Vancouver.
记住这些因素会帮助你了解当你开始参观退休住宅时你会遇到的一些成本。您正在参观的Chartwell住宅的退休生活顾问也将帮助您了解不同套餐中包含的服务，说明所有的好处和便利，这样您就可以看到成本的价值。
Rechtshaffen does offer some assurances when it comes to the cost of retirement living: “The health care costs of Canadians in their later years will very likely rise, but in many cases those extra costs will not only be largely covered by expense reductions, but for homeowners who sell their property as part of the transition, the income generated from the sale of the home can often more than cover off any additional living expenses.” He concludes, “While declining health can bring many challenges, the impact to your finances doesn’t have to be too bad…or not nearly as bad as you thought.”
Trying to add up your current monthly expenses and sources of income to determine if you can afford retirement living?Chartwell’s Budget Assistantcan help.
*The following source provided reference for this blog:
Rechtshaffen, Ted. “Here’s what is costs to live in a retirement home—and the bottom line is less than you might think.” (2019), online: https://business.financialpost.com/personal-finance/retirement/heres-what-it-costs-to-live-in-a-retirement-home-and-the-bottom-line-is-less-than-you-might-think