Senior Living Costs and How a Continuing Care Retirement Community Can Make it More Affordable

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    Two seniors sitting at a table, calculating the cost of paying for senior living.

    COMPARING THE COSTS OF SENIOR LIVING VS. STAYING AT HOME

    Surely senior living costs more—or does it? The key is to remember the long list of amenities and services covered in senior living that you would pay for out of your pocket at home. And don’t forget value. Learn more. Then, do your own cost comparison.

    BUDGETING FOR SENIOR LIVING: 3 STEPS TO FOLLOW

    Budgeting for the cost of senior living gives you a head start on planning a safe and happy future for you or a loved one. Follow these 3 steps to make an informed decision about senior living and long-term care. Read more about why you want a plan so you are not blindsided by future costs, and how a CCRC gives you control of your future.

    PAYING FOR SENIOR LIVING: HOW A CONTINUUM OF CARE HELPS

    A Life Care Community gives you and your family a plan, not only for a Continuum of Care as your needs change, but also for future financial security. At St. Mark Village, you have the Life Care Promise—enter our community through Independent Living and receive the care you need for as long as you need it, even if your financial situation changes. Learn more. And check out all the benefits of Life Care at St. Mark Village.

    SENIOR LIVING TAX ADVANTAGE: THE MEDICAL EXPENSE DEDUCTION FOR CCRC LIFE CARE SENIOR LIVING COMMUNITIES

    Many people are surprised to learn how choosing a CCRC Life Care community can mean a significant tax advantage. Read more about how you can unlock not only a one-time deduction of part of your CCRC entry fee, but also an ongoing deduction of a percentage of your monthly senior living costs! Check out an example of how much you could save.

    WHAT IS A BRIDGE LOAN AND HOW CAN IT HELP YOU GET INTO A SENIOR LIVING COMMUNITY QUICKER?

    Decided to move yourself or a loved one into senior living, but facing a cash flow shortage? A short-term bridge loan might offer you the financial flexibility you need to act quickly. St. Mark Village has partnered with Second Act Financial Services to provide bridge financing when you want to move now, with financial flexibility and time to sell your home for the best possible price.

    FUNDING OPTIONS FOR PAYING FOR SENIOR LIVING

    Learn more about sources of financial assistance, as well as the multiple contract options offered by St. Mark Village. (We know one size does not fit all!) There’s also a tax advantage which you—and your tax advisor—should know about.

    VA AID & ATTENDANCE BENEFIT AND HOW IT CAN HELP PAY FOR SENIOR LIVING

    For those who have served our country, as well as their spouses, there is an important Veterans Administration benefit for paying for senior living. Get the facts about eligibility and service requirements, as well as common myths that keep many Veterans from taking advantage of this much-deserved benefit.

    HOW INSURANCE CAN HELP PAY FOR SENIOR LIVING

    Rather than wondering where to find the funds you will need, consider the resources you might already have, such as insurance, and how it can help pay for senior living. Learn more.

    MOVE IN NOW, SELL YOUR HOME FOR THE BEST PRICE LATER.

    Learn how Second Act Financial Services can help you enjoy the best of both worlds with their bridge financing program. Simply apply for an overall Home Equity Line of Credit amount. If approved, those funds will be sent directly to your retirement community. You’ll make much smaller, interest-only payments on the borrowed amount. Once your house sells, you’ll pay back your Home Equity Line of Credit in full.

    WHAT TO EXPECT IN THE SENIOR LIVING APPLICATION PROCESS

    St. Mark Village has simplified the application process with Senior Sign, software specially designed for seniors and their families. Smooth and safe, Senior Sign is already getting very positive reviews. Find out more. For a more detailed look, check out this webinar.

    LEARN MORE IN OUR FREE GUIDE

    Discover all available options for paying for senior living. Download our free guide, Financial Planning for Retirement Living or contact us for more information.
    Speak to an Advisor today to discuss financial options available to you!