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nursing homes September 29, 2016

Smart financial planning for senior living

By: Country Meadows | Uncategorized

“We all make mistakes.” It’s a truism that comforts all of us at one time or another. And nearly all of us, at some point, make financial mistakes.

Julia Valentine, author of Joy Compass: How to Make Your Retirement the Treasure of Your Life, says retirees make a lot of the same errors regarding financial planning. Here are the four most common ones:

  1. Replacing financial advisors with family
  2. Having inadequate long- and short-term plans
  3. Turning a blind eye to the possibility of scams
  4. Keeping a portfolio stagnant

Your finances should match the way you plan to spend your retirement. A nest egg (401k or substantial savings account) and guaranteed income (e.g., annuity, pension, Social Security) will help ensure a financially secure retirement. Plan for unexpected health care expenses and understand your coverage by Medicare and private insurance.

Smart-money options at senior communities

At Country Meadows Retirement Communities, we host financial planning programs on topics such as property tax and rent rebates, tax deductibility of personal care, fraud and scams, veteran benefits, reverse mortgages and long-term care assistance.

If you’re thinking of choosing a retirement community, you will want to get rate information for each one on your list. We can help you compare costs of an independent living community or assisted living vs. remaining in your current residence. Seniors and their families sometimes have a false impression that a retirement community costs more than remaining at home. That is often not the case.

Unlike nursing homes, where Medicare covers a portion of skilled care for a period of time, the resident pays the full costs for a retirement home community. However, rates vary for the different levels of care. We work with residents and families to find the most appropriate living arrangement and care level—style and size of apartment, level of personal assistance and single or double occupancy.

At Country Meadows, we offer all-rental, month-to-month retirement apartments with no buy-in fee. We provide affordable retirement living with a wide range of programs and amenities. Your monthly service plan includes your apartment, meals (per level of care), social programs, weekly housekeeping, maintenance, transportation, laundry, cable television, WiFi and many other services—all included in one simple monthly bill.

We would be glad to discuss cost specifics with you and, if needed, financial resources to help you. We have partnered with organizations for a variety of financial options to fit many needs.

We invite you to contact us to learn more about our senior living communities. You may also schedule a tour so that we can acquaint you with our wide array of services. If you’re considering retirement at senior independent living communities, or are looking for an assisted living or a personal care home, visit any of our 10 retirement communities in Pennsylvania (in Lancaster, York, Hershey, Lehigh Valley, Reading area, York, Mechanicsburg and Pittsburgh) or our Frederick, Maryland retirement home. On each campus, you will find active residents leading full lives in a family-oriented, caring environment.


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