Deciding Where to Live After Retirement: Some Options

According to a survey by the AARP, the majority of people say that they would prefer to spend their senior years in their own home. However, it is worth considering how issues of health, mobility or finances might affect one’s preferences. Many other retirement living options exist for different needs.

Downsizing one’s home is a popular choice for many seniors. A home that was the right size to raise a family may involve more expense and work than one wants in retirement, and the money saved by moving to a smaller house can help pay for other retirement expenses.

A senior living community is another way to change one’s home to match one’s lifestyle. Retirement communities combine independent living with activities and services geared toward seniors.

If additional care and accessibility are needed, then assisted living communities combine independent living and a home-like setting with personal care and health care services.

Of course, when planning for one’s retirement, one may have no way of knowing what level of care may be required as one ages. One solution to this issue is continuing care retirement communities, which are structured to provide a range of care, including independent living, assisted living and full nursing care, all in the same complex or campus.

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