Excerpts from article:
This can make the adult children of these seniors very distraught about their parents’ situation. Financially, the children may need to contribute, making matters even more complicated.
Even if seniors are just at the point where they want to downsize, the housing market is dictating what their futures will look like. The combination of time on the market and ultimate selling price of a property determine when and where seniors can afford to live.
The "housing crisis has kept thousands of older Americans who need support and care from moving into retirement communities or assisted-living centers, effectively stranding them in their own homes," the New York Times reports. Even after a lifetime of saving, many older Americans cannot afford to put a down payment on a residence in a retirement facility of any kind if their homes do not sell. The upfront cost can be anywhere from $100,000 to $500,000 to move in.
This press release contains only small excerpts from its original source. To read the full length of, New Move-In Incentives for Seniors at Retirement Communities, visit our Financial Library at http://www.csa.us/
The Society of Certified Senior Advisors (SCSA), provides free resources and tools for our members as an ongoing commitment that we have in helping professionals to understand the complex and dynamic lives of modern senior citizens.
SCSA’s mission is to educate professionals to work more effectively with their senior clients. For those who work with seniors, this means understanding the key health, social and financial factors that are important to seniors—and how these factors work together. For more information about SCSA and its educational course, please visit www.csa.us.
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Erica Ananich, SCSA
Refer a colleague today by visiting www.csa.us/CSA Referral
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SCSA educates professionals to work more effectively with their senior clients. That means understanding the key health, social & financial factors that are important to seniors — so you can find success in the senior market.