March 26, 2020

10 Ideas, Tips and Tricks Keeping Your Residents Engaged and Happy While Maintaining Social Distancing.

Filed under: Caregivers,Senior Activities,Senior Housing — Tags: , — seniorlivingguide @ 2:59 pm

Senior Housing News

By Karen Cassidy

I shake my head when I see that we are using the words “community” “distance” and “social” in one sentence.

This is our new reality, at least for the time being, and it is important to keep seniors engaged and active. One of the biggest challenges is to make sure that we are doing our best to make sure that this crisis does not affect them emotionally as well.

We all know about FaceTime, Skype and other video visits with family, which are imperative. Maybe you are even doing visits through a glass window. Putting aside the family visits through electronics and glass windows, are you able to get creative with games, fun, laughter and interaction in the other times with so much on your plate?

Are you sharing the fun times and activities that you are having on your social media?

Social Media allows you to connect and share your most authentic community experience with your families and future residents.

We know that marketing right now is hard to do the traditional way. In this ever changing environment, we are forced to learn new ways to effectively engage with our audience.

These caregivers and family members are checking out your social media to see what you are doing now. If you are not sharing, are you shortchanging them?

Sharing on your Social media through images, video, and stories will not only connect your current residents’ family with their loved ones, but it will work to benefit your community in the future. Future residents will look at your social media and how you dealt with this pandemic and the activities that took place in your community as part of their decision.

Make it work for you in the future.  Our future families will be asking us about how we handled this time.

Do not forget that while we are in very strange days, marketing your community does not stop. How you market just changes.

We have loved seeing all the different ideas from all over the country shared on Social Media, our Team at SeniorLivingGuide.com has a few ideas of our own that we will be sharing with you. We hope that these are great ideas to help get your creative juices flowing and help provide quality content for your social while making happy, healthy, smiling residents!

Ideas or happy, healthy, and smiling Residents and Staff!

    1. Joke of the Day – When staff clock in, have a clipboard on the wall with Corny/Cheesy jokes – each member of the staff picks a joke a day and crosses it off the list and as they go through their day they share their corny joke of the day with everyone they meet.  (check out https://www.quickfunnyjokes.com/cheesy.html)
    2. Staff Dress Up Days – fun and whimsical for everyone (Residents can vote for their favorite Staff Member “Dress Up”)
    3. Hat Day for Residents – everyone can decorate their hat/crown – a member of staff goes around and snaps pictures – if you have a closed channel on TV post the pictures here for everyone to enjoy – post to social media (Amazon – Crowns 40 for $15 or Gangsta hats 24 for $15)
    4. Mustache Day – staff and/or residents wears a stick on mustache (amazon pkgs of 60 are 8.99) – take more pics and social media them. Print up a collage and share with residents.
    5. Resident Newsletter – If you do not have a Resident Newsletter now is the time to start one. Let the residents share pictures, recipes, stories and other items of interest in a weekly 2-3 page newsletter.
    6. Balloons – Anything you do with balloons is always fun until they pop. Plastic Fly Swatters from the Dollar Tree and some Balloons make a nice Mock Tennis game and you can maintain social distance – clear a spot in the dining room for a fun game or two. Do you have a helium tank? Do a four-five balloon bouquet and take to each resident’s room. Just having balloons make everyone happy.
    7. Storyteller… Do you have residents that are great storytellers? Readers? Put them on the intercom let them read a little story, tell a little tale. Set up a sign in sheet for those that want to participate or they can tell a joke.
    8. 6pm News Broadcast – Have residents put together the weather report for the next day, highlights of daily news inside the community and around the world. Could make it only good news “news” and put them on the intercom or closed circuit TV.
    9. Mystery Pen Pals – Program Director takes the names of those that want to participate – assign each person a “Game Name” i.e.: Doris Johnson – Game Name is Winnie the Pooh. (use Disney names/star Trek/or old rockers like Elvis) Winnie the Pooh goes into the hat – each person picks a mystery name to write to. Therefore, Winnie the Pooh may pick Donald Duck out of the hat. They cannot share their real name. At the end of the week if you have a close-knit community they can try to guess who they were pen paling with or you can post a page with pictures and their mystery name and real name.
    10. Outside Fly Time – When residents go outside to enjoy the sunshine have some balsa wood airplanes available – throwing them and retrieving them is great exercise and a lot of fun. (I love amazon – 36 Balsa-Wood Top Gun Glider Model Planes for $44 and you can spray with alcohol to sanitize)

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February 12, 2020

Independent vs. Assisted Living: What Do I Need To Know?

Independent Living vs Assisted

Sponsored by: Resort Lifestyle Communities

Independent vs. Assisted Living: What Do I Need To Know?

If you’ve been thinking about downsizing or even transitioning to a new living situation, you’re likely doing a lot of research to discover possibilities and help guide your decision.  As someone over the age of 55, those options may include an independent living community or an assisted living arrangement.  To some, these options appear to be one in the same, but while each situation is designed to simplify your life, there are a few varying features. Below, we’ve highlighted the differences that separate these two senior living options.

What is Independent Living?

As the name implies, independent living is for seniors who want to continue to live an independent lifestyle. You’ll find residence options like apartments, duplexes, town homes and condos, all in a variety of sizes and floor plans. This type of environment is designed to make life more comfortable and convenient. For example, most offer housekeeping, laundry service, dining plans, and transportation. Imagine the feeling of not having to dust, vacuum, or even mow the yard again!

Independent Living

When it comes to activities, amenities can include fitness centers, multiple on-site dining options, beauty parlors and barber shops, banking, art studios, movie theaters, game rooms, and other entertainment spaces that give you social opportunities to make new friends. Above all, you get the freedom to enjoy the retirement of your dreams.

What is Assisted Living?

Many assisted living facilities have the same features as independent living communities, such as meal preparation, laundry services, housekeeping, and transportation. There can also be planned social activities and opportunities for exercise and special outings. And there’s typically trained staff on site at all times to help with all of the above.

Assisted Living

With regard to your living space, assisted living offers an apartment-style setting with access to assistance, as needed. One of the most significant differences is assisted living is designed for those who have special needs and cannot live alone safely. It offers an environment where seniors can receive support for daily activities such as bathing, dressing, medication administration, and mobility.

Assisted living communities tend to have one or more full-time medical personnel, such as certified nursing assistants, who are trained in meeting the needs of older adults. This staff isn’t typically available around the clock like a traditional nursing home, though.

What About a Resort Lifestyle?

You may be wondering where Resort Lifestyle Communities fits into your decision-making process. RLC’s resort lifestyle is a customized experience that meets your individual needs, goals, and interests. They take the best of everything to provide an independent, simple, all-inclusive lifestyle, all for one monthly price with no buy-in fee or long-term leases. They offer all of the luxuries you’d expect: beautiful accommodations, resort-style dining, around-the-clock concierge services, housekeeping, fitness center, travel program, and much more. RLC communities are also a pet-friendly, which allows your furry family members to move with you with no extra fees!

Senior Resort Living

And should the need arise, RLC communities also offer the option of home health assistance to enable you to stay in your home and near your friends for as long as possible.  At an RLC community, you have the varying levels of support you’ll need for the multiple stages in your adult life.

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February 6, 2020

5 Criteria to Use When Choosing the Right Retirement Community for You

Filed under: Retirement Community,Senior Housing — Tags: — seniorlivingguide @ 4:45 am

choosing a retirement community

By Anita Ginsburg

When it comes time to retire, one of the first things people think about is housing. Some people have saved over the years and eventually go on to buy a place in the location of their dreams. For others, they prefer to stay where they are, however, now want to live in a place where they can kick back and relax.

If you fall in to the latter category, it’s important to know that all retirement communities are not the same. So, before you start packing, here’s what you need to be looking for in a retirement community.

Medical Care

Even if you’re in perfect health, the place you ultimately choose should be equipped with appropriate medical care. If you plan on making this your permanent home, look for retirement communities that offer both emergency and routine care. If you suffer from chronic medical conditions, like diabetes or hypertension, it’s even more important to ensure you have access to medical care.

Socialization

In addition to quality medical services, recreational activities are another important part of choosing your new place. Socialization is important at any age, so look for communities that promote social interaction. Even if you’re more of an introvert, you still need to have access to activities you enjoy doing and be able to mix and mingle at will.

When touring different prospects, take the time to speak to current residents. Ask about the different recreational options there are, whether they enjoy them and if there are any areas that need improvement.

Location

Think about the environment you want to retire in. If you’re somewhere that’s known for brutal winters, you might have set your sights on somewhere warmer. Regardless of location, unless it’s close to home, you should plan on visiting the area prior to making a final decision. Above all else, you need to ensure that you’re happy with the location, either on a part-time basis or all year round.

Consider Your Budget

Affordability is by far the most important factor you need to consider. Just like buying a home, your budget determines whether you can live comfortably. If you’re not financially savvy, enlist the help of a trusted family member or friend who can crunch the numbers.

Determine how much money you’ll need each month to live comfortably. If where you choose mandates additional monthly fees or has a mandatory entrance fee, you need to consider this as well.

Lifestyle Choices

Finally, make sure where you choose to live matches your lifestyle. For instance, if you have pets, inquire if the community is pet friendly prior to visiting the property. There’s no point in touring if the community does match your lifestyle.

Choosing a retirement community that suits both your wants and needs takes time. Make a list of everything you must have and also things you’re flexible with. Doing so will save you time, money and help narrow down your search.

Bio: Anita is a freelance writer from Denver, CO. She studied at Colorado State University, and now writes articles about health, business, family and finance. A mother of two, she enjoys traveling with her family whenever she isn’t writing. You can follow her on Twitter @anitaginsburg.

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January 8, 2020

Five Reasons All-Inclusive Senior Living Makes Sense

Sponsored by: Resort Lifestyle Communities

All-inclusive resorts have been around since the 1950s when the French-based Club Med introduced the concept to their guests. When people learned about the perks of an all-inclusive stay that would simplify vacation budgeting, the idea really took off. Since that time, countless vacation destinations, cruise ships, and even retirement communities have adopted the all-inclusive model.

For more than two decades, Resort Lifestyle Communities (RLC) has offered residents a luxurious, all-inclusive lifestyle that provides a relaxing and worry-free retirement. For many, financial considerations are a priority. Here are five reasons that all-inclusive living with RLC simply makes sense.

  1. Budget Simplicity

When your rent, utilities, meals, and entertainment are all covered with a single monthly cost, it’s much easier to map out your personal finances. You won’t have the fluctuating costs of heating and cooling your home, and you don’t have to pay for big-ticket surprises, like when your water heater fails or your dryer decides it’s had its last spin. Perhaps even more importantly, RLC’s all-inclusive monthly cost is transparent. No hidden fees! Some senior communities require a nonrefundable entrance or community fee, which is sometimes referred to as your “buy-in.” Because RLC values a worry-free lifestyle in every aspect of our business, they don’t charge buy-in fees or require you to sign a long-term lease.

  1. Effortless Healthy Eating

Meal planning, grocery shopping, and preparation can make getting three square meals a day tedious and time-consuming. With an all-inclusive lifestyle, you never have to cook unless you want to! RLC offers a signature Freedom Dining program that includes an all-you-can-eat buffet, or a fine dining experience that mimics that of a luxury resort. Professional chefs provide three wonderful, nutritious meals each day, anytime you like. And if you need a snack in between meals, their 24-7 chef’s pantry is the place to go!

  1. Free Time to Celebrate Life

Time is one of life’s most valuable commodities. When activities or chores like cooking, cleaning, or maintaining a home are done for you, that means you have more time to spend on the things you enjoy most. You can invest in meeting new friends, trying new activities like yoga, taking up new hobbies, and sampling new foods from our executive chefs. The possibilities are endless! Some RLC residents have even joined Wii bowling leagues together.

  1. Quality Conveniences

Another benefit that’s somewhat unique to RLC is the quality of services you get for your money. Residents’ comfort, safety, and enjoyment are their top priority. In order to support residents in these ways, their all-inclusive pricing includes convenience amenities, like access to live-in managers, a 24/7 emergency alert system, concierge service, gourmet chefs, housekeepers, maintenance staff, a full-time lifestyle director, and so much more. The cost of acquiring these services outside of a senior community would far outweigh the cost of your all-inclusive monthly payment at an RLC community.

  1. Things Money Can’t Buy

All-inclusive living also offers things money can’t buy. The ability to keep your beloved pet, the many friendships you can create, the feeling of freedom from chores, and daily access to delicious food (that you don’t have to cook), are just a few. When you add it up, all of these benefits equal a life of ease with the freedom to do as much or as little as you want. So, go to that happy hour, try a new fitness class, take a trip to the mall with friends, or relax and take a nap. You can live your life to the fullest – and it’s all included!

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November 7, 2019

Finding an Assisted Living Community That’s Right for You

Filed under: Assisted Living,Nursing Homes,Senior Housing — Tags: , — seniorlivingguide @ 5:31 am

Assisted Living Search

By Brooke Chaplan

If you’ve found that, as you’ve aged, you now need assistance with your daily tasks, then an assisted living facility can be a great option for you. It will provide you with the care you need to live a fulfilling life. Here are some helpful tips to ensure that you find a community that’s right for you.

Make a List of Needs

Many seniors start out by looking at the various assisted living communities and end up getting overwhelmed. Instead, start by making a list of needs. Include everything from the type of medical care that you need to the recreational activities you need in your life. When you have a list of what you’re looking for in an assisted living facility, you can better determine what facility is going to fit your needs quickly.

Set a Budget

Your assisted living care should be easily affordable for you. You should take a look at what your budget is and will be in the future. Set yourself a budget for what you can comfortably afford to pay for your cost of living, keeping in mind your retirement fund and savings. By setting your budget ahead of time, you can limit yourself to looking at facilities in your price range. If you look at facilities first, you may find yourself signing a lease for a place that you end up having trouble affording.

Take a Tour

Now, you should have a very good idea of the qualities you’re looking for in a property and what price range you can afford. Next, it’s time to get your list together of potential properties to visit. You want to take the time to tour each facility to get a feel for how it will work for you. Don’t be shy about visiting a place multiple times before you decide whether or not you want to live there.

Speak with the Current Residents

One of the best ways to get a feel for how a community will work out for you is to talk with the existing residents. See how happy they are with the assisted living facility and get some information about the daily activities that are offered for residents. You may be surprised that you can learn more from a 10-minute conversation with a resident than you’ll get from reading all the fliers about the community.

When it becomes time to move into an assisted living facility it’s likely that you’ll have a lot of questions running through your mind. Understand how to slow down and take it to step by step; this can drastically help with your overall decision on where to stay. Be sure to start by utilizing the four tips above to find an assisted living community that’s right for you.

Brooke Chaplan is a freelance writer and blogger. She lives and works out of her home in Los Lunas, New Mexico. She loves the outdoors and spends most of her time hiking, biking, and gardening. For more information, contact Brooke via Facebook at facebook.com/brooke.chaplan or Twitter @BrookeChaplan

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October 22, 2019

3 Things to Look for in a New Retirement Community

Filed under: Continuing Care Retirement Community,Retirement Community,Senior Housing — Tags: — seniorlivingguide @ 9:47 am

what to look for in a retirement community

By Brooke Chaplan

If you’re considering making a move to a retirement community, it’s likely going to be a big change for you. You want to pick a community that you know you’ll enjoy and feel comfortable being part of. Here are three things that you’ll want to include in your checklist to ensure you pick the right retirement community for you.

Medical Care

One of the best benefits that you can gain from some of the newer retirement communities is on-site healthcare. Many communities will offer nursing staff that visit your home or apartment regularly. This saves you the trouble of having to get to your own appointments. Not all retirement communities offer this. While you may not need medical assistance right now, it doesn’t hurt to look for a retirement facility that can provide you with this benefit in the future if your health changes.

Priced Within Your Budget

Since you’re likely not working a full-time job anymore, you’re going to be on a limited budget. You need to take the time to assess your financial situation and determine what the appropriate price range is for you. By determining this from the very start, you can ensure that you only look at adult community homes for sale that will fit in your price range. You don’t want to end up locking yourself into a living arrangement that you end up not being able to afford over the long run.

Recreation

It’s very easy to forget the recreation factor when deciding on what retirement community you want to live in. However, it’s one of the most vital components that you should be utilizing to choose the right community for you. You want a retirement house that allows you the opportunity to enjoy recreational activities that keep you moving in your golden years. A good retirement community will offer recreational activities all year long that you can enjoy participating in. Some include golf, biking, dance lessons, crafts, music shoes, trivia, gardening, cooking, and so forth.

Picking the right retirement community to fit your lifestyle should be a decision that you don’t take too lightly. You want to find a place that promotes your health and provides various benefits that you can utilize in your senior years. The above are three of these important factors that you should be including in your overall decision. Be sure to make a list and visit any potential communities before settling on which one you decide to stay at.

Brooke Chaplan is a freelance writer and blogger. She lives and works out of her home in Los Lunas, New Mexico. She loves the outdoors and spends most of her time hiking, biking, and gardening. For more information, contact Brooke via Facebook at facebook.com/brooke.chaplan or Twitter @BrookeChaplan

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October 9, 2019

Adjusting to Assisted Living: A Guide for You or a Loved One

Filed under: Assisted Living,Nursing Homes,Senior Housing — seniorlivingguide @ 4:18 am

Adjusting to Assisted Living

By Lizzie Weakley

As a loved one age, they may find it difficult to care for themselves or maintain their independence without assistance and monitoring. If you or your loved one has made the decision to move to an assisted living home, there are a few ways to maximize comfort throughout the transition and adjustment periods.

Find a Suitable Assisted Living Program

One of the most important steps to take with a loved one who is in need of assistance and care is to take the time to find an assisted living program that is right for your loved one. Take the time to research each individual assisted living program or home you are interested in for your loved one. Read reviews and client testimonials to learn more about individual assisted living homes in your area and to determine which facility is optimal for your loved one’s lifestyle, health conditions, and daily needs.

Help Your Loved One Get Comfortable in Their New Space

Once you have transferred your loved one into an assisted living home, it is important to help make their new space as comfortable and as welcoming as possible. Spend time decorating and adding personal belongings, decor, and various items for your loved one into their bedroom or living space. The more comfortable your loved one feels at their assisted living home, the less likely they are to withdraw socially or become depressed as a result of loneliness.

Visit Regularly

Commit to visiting your loved one regularly once they are living full-time in an assisted living home. Visiting loved ones regularly can help minimize stress and depression in the elderly. Loneliness is serious and can ultimately lead to serious and life-threatening depression and anxiety.

Ensure Your Loved One Remains Active and Social

Always ensure your loved one remains active and social while staying in an assisted living facility. Check-in on your loved one daily to make sure that they are happy and being taken care of by staff. Encourage your loved one to join social gatherings and to partake in hobbies and activities that are hosted by the assisted living facility.

With the right assisted living home, help your loved one to readjust to their new way of living without stripping them of their independence and what it means to care for themselves. By taking the time to help your loved one adjust to their new assisted living home, gain peace of mind knowing that they are in the right place.

Lizzie Weakley is a freelance writer from Columbus, Ohio. In her free time, she enjoys the outdoors and walks in the park with her three-year-old husky, Snowball.

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September 26, 2019

Considering Assisted Living? Here’s 4 Things You Should Know

Filed under: Assisted Living,Senior Housing — seniorlivingguide @ 4:28 am

Assisted Living Facts

By Lizzie Weakley

Assisted living facilities can help seniors and other individuals with physical and mental challenges lead better lives. If you’re considering entering an assisted living facility or enrolling a loved one, there are some key things that you should know in advance. Here are four things that you should know about living in an assisted living facility to determine if it’s the right option.

What’s Included in the Cost

Even though the cost of living in an assisted living facility can seem steep, the money spent for residency can cover many living expenses. In addition to housing, the costs of utilities and meals are usually included in the fee. Trash removal and ground maintenance are other expenses that may be included in the total cost of living in a facility. Total costs will also depend on the level of care that’s required for the individual.

Services Offered

The best living centers offer a variety of additional services to make residents’ lives easier. Basic services often include housekeeping, transportation and laundry. Exercise programs and outdoor activities may also be offered. It might be possible to find an assisted living facility that offers bodywork services like acupuncture and massage therapy. Any reputable assisted living facility should provide medical support and at least some basic care services to residents.

Activity is Encouraged

Assisted living doesn’t have to mean giving up independence. The fitness programs at these facilities, which often include yoga, swimming and even dancing, can help each resident maintain a sense of independence while still allowing them to receive all the needed support. The art classes and religious services that are offered at many assisted living facilities can provide further independence. Transportation can even be provided for trips to shopping malls, restaurants and local attractions.

Private Accommodations are Available

Residents can often choose to move into private apartments in assisted living facilities if they want their privacy. Even though residents can live in their own units, they’ll still have neighbors and support staff nearby in case anything bad happens. Living in a shared unit with another resident can also usually be arranged. Some of these private and shared accommodations at certain facilities even allow pets.

Moving into an assisted living facility can be a big decision. This decision can be made easier if all the pros and cons are weighed before choosing to move into one of these centers.

Lizzie Weakley is a freelance writer from Columbus, Ohio. In her free time, she enjoys the outdoors and walks in the park with her three-year-old husky, Snowball.

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July 12, 2019

What to Look for in a Home After Retirement

Filed under: Boomer,Real Estate,Retirement,Senior Housing,Taxes — Tags: , — seniorlivingguide @ 10:27 am

Real Estate After RetirementCourtesy of Anita Ginsburg 

You’ve waited for what seems like a whole lifetime to retire. You’ve pinched your pennies and are now ready to enjoy this new chapter of your life. However, buying a new home after retirement isn’t the same as buying your first home. Depending on your financial situation, it can feel impossible to finance an investment this big at this point in your life.

To make the best decision for you and your budget, read on to learn about the most important points to consider when buying a home after retirement.

Location Matters

When it comes to real estate, there is one thing that everyone thinks about: location. People who are older need to carefully consider where they want to buy their retirement home. Although a sunny area may sound good on paper, it might not be your kind of paradise for the long-term. Consider important factors such as the climate, cost of living, crime rates and access to resources before you decide on a location.

Elderly people’s homes are often prime targets for break-ins, so you want to make sure that the security in your neighborhood is safe.

Also consider the average age of the members of your new neighborhood and if there is a strong senior citizen community that you’ll be able to take part in. Staying social after retirement is an important part of health and wellness, especially if you’re considering relocating to a new state or a new country. Make sure that you choose a destination that is as practical as it is alluring.

Pick a Home That’s Right for Aging

Purchasing a multi-level home is not ideal as you get on in years. It’s a good idea to plan ahead and accommodate your changing body over the next several decades. Amenities like a walk-in shower, easy wheelchair access and no staircases are all good criteria to consider. You may want to look for ranch-style homes that offer a wide layout with everything on the same floor.

You should also consider the size of the land you purchase. Having a small garden may be nice, but caring for excessive land can be a hassle, especially as you age. Ask yourself if the landscaping is something that you will be able to manage as you get older, or if the space will fall into disrepair or become too expensive to maintain.

Don’t Put All of Your Money into the House

Many financial planners highly recommend that you don’t pay for a new retirement home with cash. Instead, use your money for a down payment and take out a mortgage. Your retirement savings have to be evenly distributed, so you shouldn’t spend every penny you’ve saved over the course of decades to buy a house.

If your current home has equity, check whether or not you can apply that to the purchase of your retirement home. Discuss your options for payment with a real estate office in your desired location; offices have qualified, experienced agents whose job is to make sure you not only find your dream home but also get the best deal for your money.

Keep Taxes in Mind

Before even thinking of moving to a new location, you must consider how much you’re going to pay in taxes. Take a look at the sales tax, real estate tax and your retirement income before deciding on a new home. You should also consider how taxes after retirement will affect your life. Taxes taken from your pension, social security benefits and your 401k may be more than you imagined.

Draw up a retirement budget that takes taxes into consideration so you have a realistic perspective of how much you can afford for a retirement home and daily living.

The Bottom Line

Regardless of age, buying a new home is difficult. Working with a real estate agent will make the process much easier, especially if you’re moving to a brand new location. The home you choose to retire in will probably be where you live for the rest of your life, so don’t worry about rushing into the first decent property you see. Take your time, lay out your finances and consider a home that you can see yourself in for many years to come.

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July 11, 2019

Can Selling Your Home Lead to Early Retirement?

Filed under: Retirement Planning,Senior Housing — Tags: , — seniorlivingguide @ 12:02 pm

Selling Home for RetirementCourtesy of Anica Oaks

The average retirement age in the U.S. is 62, but many Americans dream of retiring 10 or 20 years earlier than that. While early retirement is a dream, the pressing demands of reality and the cost of living make it too far-fetched for most. You may be on the brink of meeting your savings goal, and selling your house might be the final step you need to finally bid your days working a 9-to-5 goodbye.

If you’re contemplating selling your home for early retirement, here’s what you need to know.

Your Home’s Value Isn’t the Most Important Factor

Depending on how long you’ve lived in your house, you could wind up selling it for double or even triple its original closing cost. If your mortgage is paid off, then you’ll have even more money in your pocket to put toward retirement. However, there are a lot of other factors to consider when selling early, particularly real estate tax and buying a new property.

You will have to pay taxes on the home you sold; profits up to $250,000 are tax-free, and that figure doubles for couples who are married and filing a joint return. This could wind up putting your final amount down to a lot less than you expected, and you’ll have to use that money to put a down payment on your new home.

While having a valuable property is certainly an advantage as you approach retirement, it doesn’t guarantee that you’ll be able to retire earlier than planned.

The Cost of Living Can Change

If you want to sell real estate, you have to look at more than just the housing market. You must also consider the average cost of living, employment rates and the economy that will affect both you as a seller and potential buyers. This means that what you can afford to live off of now may not be enough in the future, especially if you decide to retire to a more expensive location.

The Final Verdict

Early retirement is possible, but it’s becoming less of a tangible reality for people as the cost of living in America continues to rise. While you can sell your house and put away a fair amount of money into your savings, you should carefully consider how much money you’ll need to sustain yourself throughout retirement before you make any major decisions.

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