Long-Term Care: talking, deciding, taking action Home

An important step in planning for housing options is to consider the costs. Use Compare Current Monthly Spending with Potential Later Life Housing Choice PDF download to think through which costs will increase and which may decrease.

Write down
Your Later Life Housing Goals PDF download

List your financial and non-financial later life housing goals. Then review your results with your significant other and/or other family members.

Housing Goals

Can you afford your later life housing choice? Once you have narrowed your choices, you need to see if you can realistically afford them. The activity Compare Current Monthly Spending with Potential Later Life Housing ChoicePDF downloadwill help you compare your current monthly income and spending with future potential housing and location costs. The more accurate your current and projected financial figures, the better you can estimate whether you can afford your later life housing option choice. If you feel your finances will run short for your later life goals including housing, then:

Now that you have had time to think through your housing options and complete the related activities, you’re ready to do the activity Your Later Life Housing GoalsPDF download. This activity summarizes your responses from the other six activities to obtain your financial and non-financial later life housing goals.

Resources that may help you when considering later life housing options include:

2003 Retirement Confidence Survey by the Employee Benefit Research Institute (EBRI) and the American Savings Education Council, 2003.

America’s Best Low-Tax Retirement Towns, Eve Evans and Richard Fox, Vacation Publications, Inc., 1502 Augusta Drive, Suite 415, Houston, TX 77057, 2008.

American Chamber of Commerce Researchers Association (ACCRA) – Council for Community and Economics Research

Comparative Climatic Data for the United States, by the National Climatic Data Center (NCDC), Ashville, North Carolina.

Retire in Style – 60 Outstanding Places Across the USA and Canada, Warren R. Bland, Ph.D., Next Decade, Inc., 39 Old Farmstead Road, Chester, New Jersey 07930-2732, 2005.

Retirement Housing Options for the 21st Century, by Katherine Reuter, Extension Educator, Consumer and Family Economics, University of Illinois Extension, Countryside Extension Center, 2005-2007.

The 2009 MetLife Market Survey of Nursing Home, Assisted Living, Adult Day Services, and Home Care Costs.

Your Best Places to Live: AARP’s Location Scout.