What Age Is the RIGHT Age to Move into a Retirement Community?
Deciding whether you are at the right age to move into a retirement community can be a hard and confusing process, depending on how you go about it. How do you really know if you are ready? Is there a certain age that is best? What is a good indication that it is time. According to Cedarfield, a retirement community in Richmond, VA, the general age for a retirement community is 55 and over; however, this will differ from person to person depending on multiple factors.
Age is not the only determination as to whether it’s time to make that move or not. You also have multiple other things that you must consider simultaneously during this process. Factors like need vs. want, timing, and you and your family’s feelings on the situation all play a huge part in it. Read on to find out just how to determine if you are ready or not!
What Is a Retirement Community?
A retirement community is a residential community or housing complex that is specifically designed for aging adults that can, for the most part, care for themselves. Some of these communities do, however, allow home health agencies to aid its residents who may need extra help with daily activities.
Some of these communities even provide activities and socialization opportunities for the elderly so they have something fun to do without going too far. Ideally, this is a place where seniors can live each day as they want, without limitations, barriers, or anything else getting in the way.
Planning and Timing
Timing is everything when deciding when to move into a retirement community. It is crucial to plan and make up your mind before you are ready, since most places do have waiting lists. Ideally, you should aim to get on the waiting list a few months before you want to move to be sure you have an open spot when you need one.
Many people tend to wait for a crisis to happen to push them into the decision, but this is not the best way to go about it. People who have a crisis happen or people with progressive medical conditions are often denied housing. It is often wisest to do it before you absolutely need to.
Financial and Health Factors
Before you decide if you are ready for this transition, you not only need to be mentally and physically prepared but also financially prepared. A retirement community can be an awesome place for the aging, but it can be quite expensive to live the dream. Of course, this is depending on the state and city you live in.
A retirement community could cost anywhere from $1,500-6,000 per month. That is a wide margin, so that is one of the first things you should ask before applying. Most of the time, the monthly cost includes insurance, taxes, utilities, and repairs. Some other things may also be included in the cost, like a meal plan, entertainment, scheduled transportation, craft workshops, and so much more.
Health is a major factor to consider since because of waiting lists, you may not get approved in your time of dire need. If you have any health concerns, you should seriously consider deciding on a retirement community and getting on the waiting list ASAP.
What to Do Before Deciding It’s Time
- Research your options! I cannot stress this enough. Make sure you are choosing the best facility or community for you and your lifestyle.
- Narrow down your list and dig deeper. Take tours of your top choices to make sure you LOVE your final decision.
- Make a list of questions to ask each facility. You don’t want to go into it blindly and find out later that it doesn’t offer some important amenities or that the policies don’t align with your lifestyle. Here is a list of things you should ask about:
- Refund policy
- Contract
- Waiting list policy
- Price and what all is included in it
- Rules and regulations
- Any other concern you may have
How to Decide If You Are Ready
Although it can be hard to decide, there are some ways to simplify the process. One easy way to do this is to make a list of determining factors, including your age, housing/living situation, savings and assets, family considerations, and health, as well as anything else you see think is important.
You can also weigh the pros and cons by putting them in writing to help you get a better perspective on what’s best for you and your family.
Take the results and see what you come up with. This may push you into the decision you need to make!
Final Thoughts
Age is not the only thing to consider when deciding if you are ready to make the transition to a retirement community. Consider everything else mentioned above as well and you should have the result of a well-rounded decision. Good luck on your retirement community search!
