Simple Savings: Independent Living

By Eric Shangraw

July 15, 2010 Updated Apr 29, 2008 at 10:50 PM CDT

Many people would like to know if living in a retirement community could actually be a savings?

Jean Daily with Westminster Village said, "Many people don't think of retirement living in terms of savings. But if you compare the cost of a nursing home compared to what it would cost to have the same care in your own house, a nursing home is often less expensive."

"That's because you are still paying for your home plus the cost of care being brought in to you. A retirement living arrangement has a fixed monthly cost."

"Your utilities do not change. Your taxes are included. Your insurance is included. You have other services at home to consider: yard maintenance, snow removal, home repair. If a furnace goes bad, that is an unexpected cost. Those type of expenses are already included in a set monthly expense."

"So retirement living be it in an apartment or duplex can be a savings. You just have to figure up your expenses and compare with the cost of a retirement living arrangement."

If you have any questions for Jean, click on features and experts on line.

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