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3 Tips for Funding Senior Living Expenses

Senior couple on sofa looking for ways of funding senior living expenses.

Planning for senior living costs is an important step in preparing for your future care needs. Whether you or your loved one is facing the transition to senior living, we understand that the journey can be stressful and overwhelming at times for everyone involved.

Frontida Assisted Living is here to help make the process less challenging. We’ve been serving families since 2009 and have discovered a few helpful tips for funding senior living expenses.

3 tips to prepare for the costs of senior living

While every family’s circumstances and needs are different, you can follow three general steps to budget for your future care needs.

#1 Organize your financial documents

Find and organize your financial documents so they’re in one location. You may want to create a file folder for each type of document for easy access.

Examples of these items may include the following:

  • Bank and brokerage accounts
  • Insurance policies
  • Pensions and retirement benefits
  • Stock and bond certificates
  • Social Security payments
  • Monthly bills
  • Deeds and mortgage documents

Explore funding sources for senior care and housing >>

#2 Determine what financial roles each family member will have

Several financial-related tasks will need to be continued after you or a loved one transitions to senior living. Write down a list of responsibilities you need assistance with, including paying bills, managing health benefit claims, making investment decisions, and filing tax returns.

Once you have your complete list of financial duties, delegate roles with trusted family members. Make sure everyone is clear on your goals and needs.

Learn how the VA Aid and Attendance benefit can help pay for senior living >>

#3 Consider using a financial advisor or estate planning attorney

Navigating senior living expenses, estate planning, and investments can be complex, even with solid family support. Consider consulting a financial advisor or estate planning attorney specializing in elder care.

You can access professional assistance with the following financial matters:

  • Potential tax deductions
  • Insurance options
  • Investment portfolio with long-term care funding goals
  • Federal programs eligibility
  • Additional income sources

Take our short quiz: Is it the right time for senior living? >>

Feel at Home at Frontida Assisted Living

Frontida Assisted Living values transparency and trust in each of our Wisconsin communities, and our team is ready to answer your questions, offer support, and provide resources to help you make a confident and informed decision for your future care.

Our compassionate team strives to create a sense of community and purpose for each resident through personalized programming, life-enriching activities, and special events.

Learn how we care for our residents:

  • Private suites, bedrooms, and companion rooms
  • Fully accessiblebathrooms
  • Spacious living rooms and engaging indoor recreation areas
  • Cozy fireplaces and open-plan seating in living spaces
  • Beautifully maintained outdoor areas
  • Delicious, home-cooked meals and snacks
  • 24-hour personal care and supervision
  • Comfortable spa and salon (in specific locations)
  • Dedicated memory care communities
  • Specialized behavioral health care communities
  • Housekeeping and laundry services
  • Individualized care plans
  • Life Enrichment Coordinators to plan and schedule meaningful activities for all residents
  • Nursing staff to oversee the health and wellness of each resident

We value honesty, trust, and open communication to build relationships with our residents and their loved ones. Together, we form a partnership to ensure your loved one lives a fulfilling life, feeling a sense of belonging and purpose.

When you’re ready, contact any of our 11 Frontida assisted living and memory care communities to gather more information, or to set up a personalized tour. We’re here for you whenever you need us.

We understand that transitioning into assisted care can be an emotional, stressful and often confusing journey. That’s why we’re dedicated to helping you and your family navigate the complex world of care. Download our free “Guide to Funding Senior Living” to learn more.

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