Is Senior Living Right For You?

FINANCE

By: Eric Piwowar

5 Min Quiz

Image: Geber86 / E+ / Getty Images

About This Quiz

Senior living communities aren't for everyone. Most importantly, there are age restrictions to qualify for senior apartments or communities, but additionally, there are social and economic factors that need to be considered before deciding to retire somewhere new.

If you’re considering a senior living community for yourself, parents or loved ones, it is important to know how much it costs so you can budget appropriately. The cost can vary greatly depending on factors like the location, accommodations, level of care required, and the additional amenities and service fees.

Luckily, developers have been drastically over-building senior housing developments because they’re anticipating the number of seniors in America to double in a decade. Essentially, this means that there is a surplus of senior housing right now and communities are desperate to fill their vacancies. So if you look in the right places, you should find incredible deals.

So, is senior living right for you?

How active of a social life do you have?

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What is your primary source of retirement income?

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How would you feel about someone cooking for you all the time?

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How old are you?

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Do you receive any in-home routine medical assistance?

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If you no longer had to worry about housekeeping or laundry, what would you spend your new found free time doing?

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Do you welcome the idea of no longer driving?

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Do you live alone or with others?

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Do you enjoy doing yard and house work throughout the year?

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How do you feel about retiring to a community that can cater to your needs now and in the future?

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