When it comes to being financially prepared for your future, Friendship Village is here to help make your plan simple and straightforward. As we age, it’s essential to ensure financial well-being is aligned with changing lifestyle needs. Friendship Village is the only Life Care community in St. Louis, offering a unique pricing and value structure for a worry-free lifestyle.
Assess Current & Future Expenses
Before looking into senior living communities, it’s important to have a solid grasp on your finances – both your present expenses and potential future costs. Develop a comprehensive financial plan, taking into account long-term care costs, medical expenses, and potential changes in income. Note your current expenses and estimate any potential changes. Consider factors such as housing costs, healthcare, transportation, travel, and leisure activities.
Not sure where to start? Try our cost comparison calculator to easily evaluate your expenses. By understanding your current and future expenses, you can better plan your finances and ensure you are prepared for any unforeseen circumstances.
Maximize Savings
You’ll want to make the most of your retirement savings and explore various options in your 401(k) plans, IRAs, and pension benefits. Consult with a financial advisor to determine the most tax-efficient ways to access these funds to cover your senior living expenses. Long-term care insurance can help protect your savings from unexpected healthcare costs.
About Life Care & its Financial Benefits
Aside from the fun lifestyle and security of care, Life Care at Friendship Village offers unique financial benefits. If health needs change, you have guaranteed access to a higher level of care including assisted living, skilled nursing, or memory care at essentially the same monthly fee as your current residence. This makes it easy to budget and plan for future care costs, even if you don’t know what they may be.
Another financial benefit of Life Care is a portion of the entrance and monthly service fees may be tax-deductible! We recommend speaking with your tax advisor for more details.
Finally, Life Care options include the return of up to 90 percent of the entrance fee to your estate, ensuring both your care and the preservation of assets for your family.
Ready to get started or want to learn more? We’re happy to help you confidently navigate the financial aspects of senior living. It’s our goal to find the best financial plan for you, so you can enjoy a relaxing lifestyle in our welcoming community.
Call Friendship Village Chesterfield at 636-898-8500 or Friendship Village Sunset Hills at 314-270-7700 for more information!