Thinking About a Move to a Senior Living Community?
02/01/2023 | Blog | Reading Time 3 Minutes
Some Things to Consider
Is it time to downsize and move to a retirement community?
It depends on your individual situation. If you feel ready to downsize and move to a retirement community, there is no right or wrong answer. Consider evaluating your finances and lifestyle to determine whether this is a good option for you at this time. Some things to think about:
Have a Financial Plan
Do you have a plan? Establishing a plan for retirement is essential for a happy retirement. Consider your goals, how much money you will need to retire, and how you will manage your finances. If you’re from here, you’re acutely aware that the San Francisco Bay Area is expensive. This continues into retirement. It’s best to discuss this with a financial advisor, but a good rule is to divide your assets (savings and house value) by your current spending rate and see if that lasts for you to 100 years of age.
Location, Location, Location
Where should we go? Geography can play a role in the expenses you may incur during retirement. It’s much cheaper to retire to a rural community where labor and real estate costs are less. But if you’ve lived in Marin your whole adult life, it’s going to be hard to move to rural Michigan. Plus, where are your family and friends?
What are you going to do, for heaven’s sake? It’s vital that you stay active. Retirement doesn’t have to mean sitting around all day. Find ways to stay active, such as joining a gym, taking a class, or volunteering. You’ve worked hard your whole life. Now you have an opportunity to do the things that responsibilities may have kept you from pursuing. Retirement gives you the freedom to pursue the things you’re passionate about. Whether it’s painting, gardening, traveling, or something else, find activities you enjoy and make the most of your retirement.
Time to make new friends. An all-too-common refrain we hear from new residents is, “All my friends are gone. Now what?” Retirement can be a great opportunity to make new friends from different walks of life. Consider joining a club or organization, or simply make an effort to get to know your neighbors. For many, moving to a retirement community offers the unexpected opportunity for a whole new crop of friends.
Aging in Place
Finally, where will my partner and I be with health and mobility in five, ten, and fifteen years? This is a hard topic for people to discuss, but vital in the context of planning for the future. A phrase that has come into vogue is “Continuum of Care” (CoC) in Senior Living. CoC ensures that as you progress through the stages of aging, the community has a place for you on site. At Aldersly, for instance, we provide Independent and Assisted Living, along with Memory Care and Extended Care, all on our campus.
We hope this helps spur some thoughts or dialogue on what to do next. If you’re considering downsizing and enjoying a maintenance-free lifestyle, call (415) 432-7047 to schedule a tour of Aldersly.