Senior Living and Why it’s Important to Plan

As a Senior Living Advisor, I meet seniors and families every week in the Twin Cities. Many find Choice Connections because they have a health need. Others are curious to learn about senior living options. For both they need or want a plan.  By creating a plan, you maintain more control and choice.

Things to consider

• Where will I want to live as I age?
• What is my current lifestyle and interests?
• How much space do I need?
• What services and or care will I want or need?
• How will I pay for senior living?

Location

Think about where you currently live? If in the Twin Cities is this where you want to stay?  Geographic location is a top priority when planning. Maybe you want to stay in your current neighborhood. Perhaps you want to be closer to family.  Consider the activities you enjoy.  Whether it is fitness, movies, church, or other hobbies it will be important to stay engaged.

Downsizing

The thought of downsizing can be daunting.  Most people use less space as they age.  Take inventory of the rooms you spend the most time in.  You might be surprised about the area you use.  Hiring a professional organizer can be helpful.  They work with you to sort through your belongings and help you decide what to keep, donate or throw away.

Waiting lists

As you explore and find senior living communities you may want to live in, getting on the waiting list is important.  The more specific you are in the type of apartment you want the more likely you will have to wait for it. Many communities charge a fee to join the waiting list.  Most of the time the waiting list deposit is refundable in whole or in part if you do not move.  Being on a waiting list offers peace of mind. When the time comes to move, you are more likely get what you want and not just what you need.

Cost of Senior Housing

Rent and care

The cost of senior housing is rising. In Minneapolis and Saint Paul, the average rent increases 3-5% annually. In assisted living, the health care portion also increases annually.  Understand your finances. Talk to a financial advisor about your financial plan and paying for long term health needs.   Discuss whether you are financially prepared for your later years.  If you are planning to live to be 100, then it’s possible you may outlive your money.  Choice Connections can help you understand your choices if that may be the case.

Paying for Senior Living

Long-term care insurance can offset some of the out-of-pocket costs.  Senior housing is not covered by medical insurance or Medicare. Veterans may qualify for some assistance.  For people who qualify for Medicaid, there is financial assistance available.

It’s Never Too Early to Plan

It is a new year.  There is no better time to start planning for what you want to accomplish in 2025.  Set concrete goals.  Our team of Certified Senior Advisors at Choice Connections can assist you in creating your senior living plan.  By planning, you have more choices.  You will also maintain more control and have a better chance of getting what you want.  Start your year off right and jump into planning.