As your parents get older, you begin to see signs of decline, and you have some awareness that they may need help. They may forget to pay bills or lose things. You may begin to see that everyday tasks become difficult and frustrating for them. You also know that while they may be frustrated by these things, they also do not want to become a burden to you or anyone else. If you’re faced with choosing the best living situation for your aging parent, you should consider all of your options for them. Here’s some more information that may help.
Staying at Home
This is often seen as the best choice for aging parents because they are able to stay in a familiar place with people they know. It is often the best option when it comes to finances since seniors typically do not have large amounts of money. However, this option requires more hands-on help from family and friends.
Village Concept or Independent Living
This type of community is often called a 55 and older community or a retirement community. This is usually a place where older adults move to before they require assistance. Then, when they need help, it is available to them in a place where they already live. In the US, there are 5,000 continuing care retirement communities. In 2012, the exact number was 4,815. A continuing care retirement community is unique because your aging parent does not need to move when the time comes for skilled nursing care or assisted living. However, from a finance aspect, there is usually an annual cost for the services provided.
Assisted Living
This type of community is a series of apartments contained in one building. This type of community is ideal for someone that can still live on their own but may require some assistance in specific areas, like cooking, cleaning, or bathing. Assisted living has a social community feel to it. There is often a common area for social activities and games. The cost of this living arrangement can be high, depending on the type of care needed. From a finance perspective, not everyone can afford this type of living arrangement. There is not typically a large amount of medical care provided in this community. Depending on the area, it may be challenging to find room in assisted living. There are many adults, about 20%, that believe our health care system is not adequately prepared for dealing with the population of aging adults.
Nursing Home
This is typically for someone that requires constant care and support. Adults in nursing homes need assistance with meals, medications, health management, and activities. This is the highest level of care you can find. There is always medical personnel available. Some facilities offer occupational and physical therapy. Unfortunately, the cost is often high.
Assessing Their Needs
When determining the right living communities for your aging parents, you must honestly assess their needs. In doing so, you can decide whether you are able to provide the help they need. While it may be challenging to face putting your parents in assisted living or a nursing home, it may truly be in their best interest. It would be best if you considered factors like can they feed themselves or take medication on their own. Does your parent require some type of assistive device? About 11.6 million people use crutches, walkers, or canes. This number does not factor in the number of people requiring a wheelchair. If they need this type of assistance, is your home accessible?
In addition to understanding the available options, you should consider the needs and desires of your parents. You also must look at it from a financial perspective to understand what you and your parents can afford. Knowing the available options may help make the decision slightly more manageable for you.
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