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When retirement approaches, one of the biggest decisions to make is where you'll live, including whether to stay in your current home or move to an independent living community. One of the main ...
Independent senior living communities are the least expensive of the three primary senior living options. Monthly costs vary significantly by community type, size of apartment, location and services offered. The average total cost for a U.S. one bedroom independent senior living apartment is $2,750 per month.
Typically, all of the living options (independent living, assisted living, and skilled nursing) of a Continuing Care Retirement Community (CCRC) are on a single campus. The typical CCRC in the United States varies greatly in size, although the average is just over 330 units, made up of 231 independent or congregate living units, 34 assisted ...
Coverage costs can be expensive, when consumers wait until retirement age to purchase LTC coverage. [13] As they relate to U.S. policies, two types of long-term care policies offered are: Traditional policies are the most common policies offered. Traditional policy premiums, like automobile insurance premiums, are paid on a continual basis.
Most people turning 65 today will need long-term care at some point, but the costs are exorbitant. Learn about ways to pay. 69% of Seniors Will Need Long-Term Care.
Sources. Retirement Insecurity 2024: Americans’ Views of Retirement, National Institute on Retirement Security.Accessed September 11, 2024. Cost-of-Living Adjustment (COLA) Information for 2024 ...
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