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Retirement Home Investment

A retirement home investment may involve a few different forms of care. This makes dependent care a more affordable investment for the senior population. This is particularly true because it tiers care into various degrees of dependence on professional care. Each tier or option carries varying degrees of cost with it.

Basic Activities

A hallmark that denotes when a retirement home investment needs to be made is based upon an individual's ability to perform activities of daily living (ADLs). ADLs are defined as those tasks everyone needs to be able to complete during the course of a day. The need for a retirement home or at home care surfaces as you, your spouse, parents or grandparents become permanently dependent upon others to help complete activities of daily living.

This ability or increasing inability to function is technically referred to as the functional status of a person. In order to qualify for a retirement home, medial professionals will evaluate an individual's ability to perform ADLs. The basic activities of daily living include basic hygiene and grooming, feeding oneself, dressing and undressing, getting out of bed, controlling bodily elimination and ambulation, or walking and mobility. Having difficulty completing even two of these tasks can signify a medical need to finally make a retirement healthcare home investment.

Quality of Life

There is another level of basic tasks called instrumental ADLs, which contribute to the quality of an individual's life. These include the ability to perform housework, prepare meals, managing personal finances, shopping, taking medications and using technology. For instance, those who are beginning to have difficulty using the kitchen to cook nutritious meals may suffer from a degree of malnutrition as a result. This may result from their reduced ability to use their hands from, for instance, rheumatoid arthritis.

It makes sense to take a look at making a retirement home investment at this point, because once daily sustenance comes into jeopardy, the rest of the balance of life can start to teeter. Though, there are a few options to consider for the retirement home investment, there are a few stops before that point. That is where an occupational therapist comes into the picture.

Professional Evaluation

Doctors may assess ADLs for basic functioning, though occupational therapists will step in and take the assessments one step further. They will check the ability individual's have to complete instrumental ADLs. The occupational therapist may be one of the points of contact who the retirement home employs to evaluate the level of care that a future retirement home resident will require.

This is additionally to ensure that you or your family is provided sufficient care. This will prevent you from paying for care that you or your loved one do not yet require. The point is to focus on establishing a balance among money, level of care required and dignity.

Finding Balance

Once it is established that some form of retirement home investment will be required, it is time to determine where to live. There are some who have endless funds to pay the $4,000 to $15,000 per month to afford in-home 24/7 dedicated at-home care. Others may instead want to ensure instead that their parents or grandparents or their spouse can live comfortably in a retirement home that does not require such a great financial investment.

The investment instead can be in the form of an assisted living facility, where there are central, shared facilities. This might include a dining room, where meals are provided three times per day. There are options to have medical staff come into your loved ones apartment daily to administer any necessary medications also. As they require greater care, the level of care is increased until 24/7 nursing care becomes a requirement. This is the most reasonable way to make the investment of care into those you love.

Finding the Money

If at-home options can run up to $15,000 per month, then you may be wondering just how expensive it is to keep your loved one in an assisted living center. Even those who did have foresight and the funds to purchase a long term care insurance plan may find themselves falling short financially. That is where Medicaid can come in to help out your loved one. It can be the greatest investment in your loved one, to see that their retirement continues happily and without great financial worry.

Compare quotes to make the most of your retirement home investment. There are all kinds of centers out there and different retirement home investment expenses. Keep family as active as possible longer. There are often social activities, and even group outings to local stores and restaurants.

A retirement home investment can secure the future of your loved one. It can be less expensive than you expect. Those are the basics that your investment in care will provide.