Aging in Place is becoming more important even as long term care costs continue to rise. While some retirees or future retirees consider, and insist, on moving, others want to stay where they are comfortable, in a place they have called home for many years.
It’s becoming increasingly difficult though, especially with the cost of living rising daily, mortgage payments becoming higher and previous forms of retirement incomes depleting.
The AARP is in agreement, and has announced that aging in place will be a critical component of long term care in the future, at a hearing of the Commission on Long-Term Care.
Executive Vice President Nancy LeaMond said:
“The Commission has to vote on […] the importance of expanding consumer choice of quality care options, increasing access to home and community-based services that would allow more people to stay in their homes and communities, and bolstering support for family caregivers.”
The Commission is already working on a proposal to Congress that will establish plans for future Long-Term Care legislation, highlighing the important of home care.
The amount of older Americans that prefer to age in place is growing. The fact of the matter is, many retirees prefer the freedom of their own home as opposed to retirement homes or communities with established rules. The swift change in retirement habits have made aging in place options more necessary than ever before.
The connections you establish in your communities, after a lifetime of living there, are just as important as financial security during retirement. It’s an important to feel accepted and comfortable where you have decided spend your retirement. New aging in place options can make staying in your current home a more attractive option for retirees now or in the future.
Presently, a reverse mortgage can help you age in place providing the financial security and reliability necessary to enjoy retirement. There are many options available to you in order to supplement your retirement, or begin to plan your retirement. Planning for retirement as soon as possible is becoming more important…this is your chance to make a reverse mortgage work for you.
At PS Financial Services, a reverse mortgage company in Florida, our specialty is helping you choose the best option that fits your specific situation. If you think a reverse mortgage is right for you, give us a call at (888) 845-6630 or send us an email at info@PSReverseMortgage.com. We do not pressure those who inquire.