Paying for 62+ Apartment Communities in Seattle


Cost-of-living for most Americans has gone up over recent years, Making it more difficult particularly for those seniors on fixed incomes. If you're living off retirement, chances are you're drawing from diminishing resources. Most seniors today want to remain as independent as possible, but Aging doesn't make it easy on them to keep up with the pace of life.

If you are still in a home that you've had for number of years, your first step to a more financially secure place, would be to evaluate the cost of your mortgage and taxes to see if there is a benefit to selling and moving into a fixed cost senior living community, where all services and amenities you need are included in one rate. You could also check to see if you have any equity in your home or assets that could be liquidated to pay for your move and new place. The best way to get a good overview of your finances is to sit down and list out every asset you have as well as every bill that you have to see what decisions might need to be made moving forward. Don't just fly by the seat of your pants, expecting that everything will be OK without any close consideration. If you want to make the best decision for your life as a senior, be honest with where you are.

Here are some things that you can do to find ways to help pay for your senior living.

You might qualify for mortgage relief

If the payments you're making on your mortgage or more than a certain percentage of your gross income, you might qualify for some mortgage assistance. You need to document if you're experiencing a final hardship. Also it's best to seek assistance before it's too late and you risk losing your home and the equity in it. There is a government website called makinghomeaffordable.gov that can help you with information for your situation.

Try consumer credit counseling

Don't be intimidated by the term "credit counseling." This can be very helpful to anyone trying to evaluate their financial circumstance in order to make the best decision for their family, their business, or their life. If you're looking for the right company to work with try the Federal Trade Commission website about consumer protection.

Getting prescription drug and healthcare assistance

There over 2000 benefits programs across the country that could help you lower your health care costs and other living costs. CVS pharmacy has a site called benefits check up. Add your information there and you can see what programs you might qualify for.

Coming out of retirement... Well sort of, with senior employment

Once you've evaluated your needs and your current cost of living and compared it with your income both now and over the next several years, you may be at a place where you need to get a job. Fortunately, there are many employers and companies who have specific programs for hiring seniors. Depending on your skill set and your experience, you could be an incredible asset wherever you go. The other benefit to part-time employment is the relationships with others that you can build. People who have meaningful relationships and a vibrant social life tend to live longer and those who live in isolation.

Seattle is home to multiple options for senior living. Whether it's a luxurious 62+ Apartment Community or a senior living community like The Savoy at Lake City or another senior housing option, the options abound, as well as the ability to do it affordably.

Posted by The Savoy Lake City 62+ Community Seattle on 11/24/2016
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