Senior care pricing around the North Contra Costa area has been increasing on us every year and it is making growing old even harder. As you grow you are hit with both expected and unexpected costs which most of us are not financially equipped for. This isn’t good considering 53% of all seniors haven’t made retirement plans according to a recent survey performed by Genworth Financial.
Through this survey, it was also discovered that 70% people who were 65 and older would eventually need to us long-term senior care services. They also believed that it would take 1.7 million dollars to retire comfortably. Not many people realize all that is involved when planning for a happy retirement.
Here is a list of just a few things to take into consideration when putting a price to senior care:
- Senior Mobility Home Improvements and Modifications
- Medical In-Home Assistance
- Senior Home Care- Help around the Home for Simple Tasks
- Medical Expenses
- Cost of Housing
- Assisted Senior Living Facility
- Other Expenses ( Hygiene, Gifts, & Bills)
- *For Homeowners – Maintenance, Mortgage, and Taxes
Senior Mobility Home Improvements & Modifications
As we age, it slowly becomes hard to do the things we were once able to do but are now are hindered by our aches and pains of our joints and muscles in our knees, hips, and shoulders. By restoring your house to a better accessible state, we can free the frustration of our aging pains. We can install a safety ramp for our wheelchair bound elders and even a stair lift for getting up and down the stairs in your home. If you have a pool, they even have a lift that can lower you into the pool so you can practice your low impact aquatic workouts. Assistance bars also help in places where you have to get up and down like in your bathroom or by your bedside.
Technology has also progressed throughout the decades and now centralized voice command alert systems are filling up the senior households. You can call 911 just by shouting out. You can also adjust the lighting, turn on the radio, call a friend, ask a question on Google, and even unlock doors.
Medical In-Home Assistance
When you are cleared as a functional status from the hospital and you want to spend your remainder of healing at home then medical home care is necessary. This can be very costly and some of the cost may be covered by Medicare if you qualify. Tasks like helping with going to the bathroom and bathing can be extremely helpful
Senior Home Care
When it comes to the rest of non-medical assistance, this is where and elder care assistant comes in handy. A reliable Brentwood senior care helper, like those at Seniors Helping Seniors, can help with transportation, mobility, cooking meals, and even changing a light bulb
These can add up and may become very overwhelming. Depending on your needs these can grow to be un-payable putting you in deep debt that the rest of your family may have to cover. Careful budgeting pays.
Cost of Housing
You need to live somewhere and if you don’t own your renting. As an elderly citizen, you require a little more accessibility than others. This means accommodations for our aging bodies. The location is also a factor because living in the city provides closer resources like doctors offices and shopping marts, however, it usually costs more than the suburbs or country-side.
Assisted Senior Care Living Facility
If you are no longer able to live at home then a care center is most likely your best place if you don’t end up in a relative’s home. The cost of living here is, even more, expensive than living at home many times. It’s an average of $42,000 annually.
Expenditures, like paying the gas bill or buying new eyeglasses, must also be accounted for. If you’re not adding these things into your retirement plan then you’re missing some important data.
With age, there will come a point where you may not be able to operate a car anymore. Transportation can add up especially if you are wheelchair bound or you need to need to move a scooter.
If you are invested in a home then you are still required to keep up with mortgage payments, tax statements, and any maintenance that is needed. If you don’t account for an unexpected home emergency then you may be short fund when you are in your post retirement years.
Now that we have gone through just a few parts of what it takes to achieve a comfortable retirement we can easily see why 1.7 million is a fairly perceived number. I hope this convinces all of the youth and working class to keep these costs in mind and invest in your retirement today!