Similar to a college financial aid office, Senior Living Financial Specialist’s are 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 Loan
Real Estate
Life Insurance Cash Value
Move Management
Tax Deductions
Veteran's Benefits
Long Term Care Insurance
For anyone about to make the move into a senior living community, understanding what resources are available to you can be an overwhelming topic and difficult to find on your own.
The good news is that you don’t have to go through it alone; our Senior Living Financial Specialists are experts and here to offer their support throughout the process. They understand that everyone’s situation is unique, so they take an individualized approach to ensure that seniors discover every resource available. In just one call, your personal Financial Specialist will provide tailored advice on how best to allocate funds and make use of applicable qualifications and options when financing senior living. With their timely guidance, you’ll feel confident with your decisions and prepared for life in your new home at our community.
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.
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.
Moving is one of the top stressors in life. Senior move managers make it easier for seniors to transition from one home to another. They help relieve the burden associated with moving and offer services like free-in-home consultations, personal transportation to the new residence, a comprehensive moving plan, room by room downsizing, and shipment of personal belongings. Certified move managers are licensed, bonded and insured to help take the stress out of moving.
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.
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.
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.
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.
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