So Much to Consider!
Deciding where to live is a major decision for anyone and senior citizens are no exception. There are a vast array of options depending on the needs of the senior as well as affordability. Whether someone decides to continue living at his or her home, move closer to grandchildren or move to a retirement or senior village, this choice brings up many questions.
There are communities across the country where Baby Boomers can enjoy living fulfilling lives rich with engaging activity and connections. Living life beyond retirement is about having fun and living life to the fullest.
Post-retirement life is more than just living in a nice home or center. It’s about being comfortable and enjoying these pivotal moments in the elder years. There are different living arrangements to explore as well as health and well-being to explore and activities to assess.
Post-retirement life is more than just living in a nice home or center. It’s about being comfortable and enjoying these pivotal moments in the elder years. There are different living arrangements to explore as well as health and well-being to explore and activities to assess.
To Move or Not To Move
The elder years don’t necessarily mean leaving the comfort of one’s nest. You have the option to stay at home, move to a more ideal location or move closer to children and grandchildren. Don’t be mistaken that seniors have limited options when it comes to real estate. Senior citizens are eligible for mortgages like anyone else. Income and credit score do play a role, so it never hurts to speak with an advisor. |
According to the Federal Trade Commission, elderly people are protected against discrimination from receiving a loan or any sort of credit based on age. It’s called the Equal Credit Opportunity Act, a federal law which protects borrowers against bias based on age, race, color, religion and a variety of other biases.
While the opportunity is available, it’s also best to get advice before selecting any loan as predatory mortgage lenders are out there ready to consume anyone willing to take a bite. Consult with a trustworthy source always.
One type of loan available to elders is the Home Equity Conversion Mortgage which is also a popular option for seniors who are current homeowners and over 62 years. As long as they have paid off or most of the current mortgage, they are eligible to participate in the program.
While the opportunity is available, it’s also best to get advice before selecting any loan as predatory mortgage lenders are out there ready to consume anyone willing to take a bite. Consult with a trustworthy source always.
One type of loan available to elders is the Home Equity Conversion Mortgage which is also a popular option for seniors who are current homeowners and over 62 years. As long as they have paid off or most of the current mortgage, they are eligible to participate in the program.
Residing & Living Together
Sometimes, those in or above the Baby Boomer age either don’t wish to or aren't able to deal with a mortgage later in life. This is where senior living and assisted living comes into play. There are different levels depending on the care needed.
These types of living arrangements include: assisted living, independent living, nursing homes, memory care, 55+ communities and home care. Of these options, Memory care, assisted living and nursing homes are for those with higher needs. Home care allows elderly to stay in the comfort of their home while receiving support in their home through an agency dedicated to caring for seniors. The 55+ communities are independent living villages with an array of activities on sight such as golf, swimming and other resort style activities all within reach. Independent living are for those who can still maintain their lifestyles on their own but want to live on their own without the upkeep of owning a home. This is almost like apartment living.
These types of living arrangements include: assisted living, independent living, nursing homes, memory care, 55+ communities and home care. Of these options, Memory care, assisted living and nursing homes are for those with higher needs. Home care allows elderly to stay in the comfort of their home while receiving support in their home through an agency dedicated to caring for seniors. The 55+ communities are independent living villages with an array of activities on sight such as golf, swimming and other resort style activities all within reach. Independent living are for those who can still maintain their lifestyles on their own but want to live on their own without the upkeep of owning a home. This is almost like apartment living.
Hands & Hearts is Here for You!Whatever decision one arrives at, it’s important to always research and always get second and third opinions to companies that may be aiming to take advantage of seniors. Talk it through with loved ones and consult trusted sources. And remember to continue living your best life! Feel free to give us a call at Hands and Hearts Home care and speak with one of our care specialists if you have questions about our In Home Care solutions for your loved one! |