Most seniors would prefer to remain in their current homes as they age. According to AARP, 75 percent of adults 50 or older want to age in place. But although it’s an appealing choice, it comes with certain financial considerations that may not be immediately apparent.
But what are these considerations? From health issues to the type of home you live in, a plan needs to be set that accommodates your lifestyle and your finances.
Planning for Aging in Place
The time to plan is when you’re healthy. In fact, the more you can do before you retire, the more successful you'll be at staying in your home. This not only means financing your care but also future-proofing your home, which comes at a cost.
Updating Home for Aging in Place
Having a home that can accommodate your changing needs is imperative. But too many people wait until a crisis before making changes.
Anne Johnson
Author
Anne Johnson was a commercial property and casualty insurance agent for nine years. She was also licensed in health and life insurance. She went on to own an advertising agency, where she worked with businesses. She has been writing about personal finance for 10 years.
