Can I Afford Assisted Living?
In order to understand the cost of assisted living it is best to fully understand your current expenses. The Morning Pointe Cost of Living Worksheet is a great tool for helping you do just that. You may be surprised by what you find. Assisted Living can be more affordable than you think.
As for funding assisted living initially or on an ongoing basis, there are many sources to help with the expense from using personal funds to veteran’s benefits to long term insurance benefits.
- Your income from retirement plans, pensions, annuities and Social Security
- The equity in your current home or other owned real estate
- Long Term Care Insurance
- Sale of stocks or bonds
- Conversion of mature Certificates of Deposit
- Family assistance
- Outside Financial Sources
- Veteran’s Aid & Attendance Benefit
- Life Settlement from the sale of an insurance policy
- Converting a life insurance plan to cash
- Elderlife Financial Services
We understand these are very personal decisions and only you can decide what is best. However, you don’t have to figure out the process on your own. The Morning Pointe professional staff at a community near you is available to answer your questions along the way and help you find the proper person or agency for additional help.