Your Dedicated Specialists
Our Community Partners
We Help You Understand Options and How to
Maximize Your Financial Resources!
Similar to a college financial aid office, Senior Living Financial Specialist is here to
help you identify and maximize financial resources that are available based on your unique situation. In a single phone call, your personal Financial Specialist will provide guidance and recommendations on the best way to pay for senior living.
Short Term Bridge Loans
A bridge loan helps you join the financial gap when buying a new home while selling your existing one. It is designed to provide you with funds to help with a down payment while you are waiting to sell. This type of short-term financing helps you meet your immediate cash flow needs. A bridge loan allows buyers to put a contingency-free offer on a new home and is considered highly attractive to a seller with multiple offers.
Veteran's Benefits
For Veterans and their spouses ages 65 and over, Veteran’s Aid (VA) benefits can help cover some long-term healthcare costs. These tax-free benefits can be used to pay for skilled nursing care, assisted living communities, specialized home care services or adult day care services. Disabled or sick veterans may also receive help paying for caregiver support, pain management, 24/7 medical/nursing assistance and daily activities like bathing, dressing, meal preparation, and medication reminders.
Real Estate
The housing market is booming right now! Selling your home may be an option worth exploring if you are looking to finance the retirement of your dreams. A senior-focused Realtor® can help you get the best price so that you can afford long-term care. A reverse mortgage provides another option for homeowners ages 62 and up. This money can cover retirement expenses and comes right out of the equity in your home.
Long Term Care Insurance
Long Term Care (LTC) Insurance can be used to pay for services including adult day care, assisted living and nursing home communities, and in-home nursing services. Monthly premiums and plans are flexible to meet a variety of needs for seniors on a budget. LTC insurance offers a daily or monthly care allowance. Seniors can also customize coverage areas to include specific services depending upon their lifestyle and needs.
Tax Deductions
For some retirees’ out-of-pocket medical costs are a significant expense. The U.S. tax code offers a special tax credit for seniors. Many can claim these expenses on their taxes with itemized deductions. According to the IRS, deductions can include only the part of your medical and dental expenses that exceeds 7.5 percent of the amount of adjusted gross income. Itemized deductions can be used to pay for property taxes, mortgage interest, and medical and dental expenses.
Life Insurance Cash Value
If you need cash to supplement your retirement needs cash value life insurance allows policyholders to access money while still alive. This form of permanent life insurance lasts for a lifetime and features a cash value savings component. A portion of the premium goes toward building up a cash value while accruing tax-deferred interest. Seniors can withdraw this money to supplement retirement expenses or as a source to pay for unexpected emergencies.
Move Management
Do you need guidance on ways to pay for your senior living community?
We help you understand your options and ways to maximize resources available to you! We believe all seniors and their loved ones should have knowledge of and access to all available resources that help cover the cost to live in the senior living community of their choice.
We have a brief survey that will help get the process started.
Schedule a time to talk to a senior living financial specialist today.
