One of the biggest questions many people have when it comes to independent living is the cost. They might imagine their plush nest egg — carefully layered over decades — suddenly feeling like it may not be enough after all, or that retirement savings may run out sooner than they think. 

Fortunately, independent living can be a very affordable option, especially if you keep in mind that it’s replacing many everyday costs you may not have considered before. Since independent living encompasses so much in one bundle, it’s natural to have a moment of “sticker shock” at first. But let’s take a look at what’s really involved in your total price.

Your specific cost will vary depending on the community you choose, your living space, and any care you might need now or in the future. But no matter what your options, be sure to remember that your cost includes these:

• Housekeeping and maintenance —you may have been outsourcing to cleaning services, contractors, and lawn companies 
• Fitness activities — you might have been paying gym membership fees and per-class fees 
• Scheduled activities — living on your own, you likely paid for numerous entertainment and social options
• Dining — this is a big one, because it includes groceries, as well as restaurant outings, and those can add up quickly
• Utilities and home costs — from electricity and heating to larger home projects like roof replacements or major repairs, it can be expensive to keep a home in good shape

At Five Star, we understand that monthly pricing is a concern, and of course you want that nest egg to stay feathered as long as possible. Talk with us about financial solutions and strategies that can make a difference when it comes to affordability.