In this episode, Tim Reagan talks about the housing challenges seniors face with Kevin McGee, President and CEO of Smith Senior Living. With over 24 years of experience at Smith, McGee has seen it all – and has plenty of expertise to share on long-term living solutions for seniors.
An important part of retirement planning is choosing the best housing options for you and your loved ones as you enter your golden years. For many, living alone at home can create a socially isolating experience, as well as compounding the upkeep involved in homeownership.
Senior living experiences have changed drastically over the past few decades, and can provide a cost-effective solution to these problems. The communities available through Smith Senior Living are known as “life plan communities,” which focus on creating specific plans for independent individuals who wish to create a plan for the future.
These communities offer several levels of care depending on individual needs, ranging from independent living to memory assistance and even physical rehabilitation.
“Often, people decide to stay in their house longer than they should, and an emergency takes place,” McGee explains. When that happens, adult children are left to make big decisions and create a plan. Ideally, seniors should be creating a plan for themselves to best suit their needs.
In this episode, you will learn:
- How senior living has changed dramatically in the past five decade
- How a life plan community provides comprehensive services under one umbrella, helping residents plan for their future
- How Smith Senior Living offers a variety of floor plans, services and social activities to provide peace of mind to families and a fulfilling experience for residents
- What goes into creating a life plan, including questions you should ask as you research senior living communities
What will your living arrangements look like down the road? Listen to the full episode to learn more about how a life plan can help you make the most of your retirement.
Key Timestamps and Topics
- [1:19] How senior living has changed over the years
- [3:01] Different levels of care available in senior living communities
- [7:16] Smith Senior Living’s unique approach to resident life as a not-for-profit community
- [11:31] Assisted living vs. independent living
- [14:14] How and when you should start planning for your future housing needs
- [17:36] The costs of senior living communities vs. maintaining a home
3 Key Takeaways
- Living alone as a senior is a socially isolating experience for many. Senior living communities offer a way to reconnect with others.
- There are more options than ever for senior living communities, ranging from independent living to memory assistance programs and even physical rehabilitation.
- It’s important to build a plan for your long-term housing before you really need it – without a plan in place, you risk leaving your children or other loved ones to make big decisions for you.
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