Tomorrow’s increasing costs of senior living make it even more imperative to choose a lifestyle today that not only checks the right boxes for an exceptional retirement but also protects against future price increases.

For many older adults, the answer is a Life Plan Community. Not only does this choice shield you from having to pay more in the future, but it also guarantees seamless access to future care. Plus, a range of amenities and services covered by one monthly service fee.

Peace of mind. Peace of pocketbook! A rare combination and one that could make all the difference for you and your family.

Are worries about increasing costs of senior living keeping you up at night?

If you have retirement on your mind, you are probably looking forward to all the advantages of a maintenance-free lifestyle: more time to enjoy your hobbies. More time with friends and family. Learning a new language or traveling more. Starting a new fitness regimen. Kicking back and really enjoying every day.

It all sounds great…until you start to hear about increasing costs of senior living. Then you start to worry.

• What would happen if you moved into senior living and your needs changed, requiring a higher level of care?
• How much would assisted living cost? How much does memory care cost?
• Is there any way to predict just how much these costs will increase?
• Do you have enough financial resources to take care of it?
• Will you have to rely on your family to make up the difference?

Worry can erode peace of mind in a hurry. But there is a way to replace worries about the future with confidence.

A Life Plan Community can shield you from increasing costs of senior living

A Life Plan Community offers residents access to every level of living for each season of life. So, as your needs change, you may transition to the next level of care needed without having to leave the community. Not only does this allow you to stay in a familiar environment around familiar faces, but it also removes the costs that would come with relocation.

In addition, there is no new sticker shock in a Life Plan Community. You will not be surprised by increased charges when you move to a higher level of care. Costs are predictable,, and you are protected from price fluctuations, which can be greatly reassuring for anyone on a fixed income.

As a resident of a Life Plan Community, you have priority access to the care you need. Your family can rest easy as well, knowing they will not face a sudden financial burden that could be hard to handle.

Why aging at home can’t offer you the same protection against rising health care costs

It might be easy to assume that aging at home would be one way to avoid the increasing costs of senior living. However, the numbers tell a different story.

• In 2023, the cost of a home care aide increased 10% to an annual median cost of over $75,000, according to Genworth’s annual cost of care report. This number was actually higher than increases in assisted living or skilled nursing.

This could place a tremendous burden on you and your family and be a major blow to your dream of a fulfilling retirement. And don’t forget aging at home means you are still responsible for all the costs of upkeep, from the roof to the flooring to the plumbing to the kitchen appliances, all subject to continuous price increases.

Beyond health care: a Life Plan Community can save you money in several other ways

Moving into a modern Life Plan Community frees you from many of the everyday expenses you are paying for at home.

• Maintenance and repairs of your residence are included in your monthly service fee. You pay nothing extra.
• Each Life Plan Community offers a dining program, so you no longer have to shop for groceries or pay for delivery of food. It’s all included, and it comes with a bonus: a pleasant, welcoming atmosphere for dining with friends and family.
• Amenities in a Life Plan Community often include a fitness and wellness program, library, living rooms areas, outdoor spaces for socializing, card and game rooms, auditorium, and much more. These are all available to residents free of charge.
• Services such as scheduled transportation, security, housekeeping, and exterior maintenance are also included in the monthly fee.

Related: Today’s Senior Living Communities: Amenities That Matter

And when it comes to socializing—so important for senior health and wellness—you’ll have countless opportunities to connect with friends and family without paying any additional fees.

For example, you can see a movie, attend a party, celebrate the holidays, learn a new hobby, join a group outing to a museum or market, attend a lecture, work on your strength and balance, or just enjoy living in a setting that feels like you are on vacation—without paying extra!

At PMMA®, we care deeply about you. We value our community members as the unique, vibrant individuals they are—honoring their preferences and uplifting their spirits at every opportunity. That’s why we’re committed to offering every level of senior living and care in our network of senior living communities—so you can select the perfect lifestyle to meet your needs and help you enjoy a life of comfort, joy, and peace. In addition, we also offer a wealth of signature health services.

Download our free guide, “Mastering Financial Planning for Retirement Living in a Life Plan Community” or contact a community near you to learn more and to schedule your personalized tour.