Why Financial Professionals Recommend Senior Living

A financial professional’s recommendation and opinion on senior living is most valued by seniors because they:

• Act as a neutral third-party for families to discuss finances and plan for the future
• Assist with estate planning and structure assets to protect you from inflation and legal issues
• Build trust with you and your family, ensuring you are an active participant in your life decisions and are advocated for
• Customize retirement income plans that are sustainable and long-term
• Manage complex healthcare and tax needs, such as long-term care, Medicare planning, and tax-efficient withdrawal strategies
• Provide behavioral coaching so you don’t fall victim to market volatility

Financial Professionals Who Recommend Senior Living

There are many reliable professionals who know you well enough to recommend senior living because they evaluate your asset protection, expenses, lifestyle, and tax optimization:

• Certified Daily Money Manager (CDMM)
• Certified Financial Planner (CFP)
• Certified Public Accountant (CPA) or Personal Financial Specialist (PFS)
• Chartered Advisor for Senior Living (CASL)
• Elder Law Attorney
• Retirement Income Certified Professional (RICP)

Why Senior Living is Recommended

Your financial professional recommends senior living for abundant reasons that support many ways of wellness:

• Asset Protection and Potential Tax Benefits: Downsizing can free up home equity to fund your lifestyle and care, and some fees may be tax-deductible as medical expenses.
• Early Advocacy and Control: Planning ahead allows financial decision-making to be in your control and on your terms in case of changes in circumstances or cognitive decline.
• Growing Demand: Senior living is a high-growth sector with significant investments in housing accommodations and services driven by the large population of Baby Boomers according to the United States Census Bureau.
• Integrated Health Services: A senior living community with various levels of living and care is more comfortable and cost-effective than 24/7 in-home care becomes as your needs increase.
• Luxury Lifestyle: You’ll get to focus on your health and happiness with access to exclusive amenities and services, including home maintenance.
• Predictable Long-term Costs: Choosing a senior living community, especially a continuing care retirement community (CCRC), gives peace of mind with a stable, planned budget.

When Senior Living is Recommended

Your financial professional might recommend looking into senior living options if they notice:

• Cognitive decline or signs of Alzheimer’s or dementia
• Decline in managing daily financial responsibilities
• Inability to maintain health, home, hygiene, or safety
• Increased social isolation and depression
• Physical decline, including frailty and an increase in falls
• Rising costs of care and living expenses are greater than those in a senior living community
• Susceptibility to exploitations and scams

Start the Conversation About Senior Living

Go to your trusted financial professional, or find one on ElderLife Financial, and ask for their opinion about your future with senior living based on your:

• Assets, government benefits, and income
• Equity, mortgage, networth, and tax optimization
• Estate plan and will
• Lifestyle preferences and retirement plans
• Long-term needs for various levels of living and care
• Timing to move into senior living

Start the conversation about the future with our free ebook, Planning for Your Long-Term Future!

At Life Enriching Communities (LEC), we’re committed to ensuring patrons feel well-equipped to plan their future and age how they wish. Explore more resources on senior living or contact us today to learn more about our legacy of services and programs that bring meaning and purpose to every stage of life.