Patriot Wealth - October 2018

HOW TO REWIND LIFE’S CLOCK USING SOCIAL MEDIA THERE’S AN APP FOR THAT?

One of the hardest challenges of aging isn’t coping with the physical changes or new limitations associated with getting older; it’s finding new groups of people with similar interests, especially for empty nesters. Many adults build their peer networks around their children, making them the focal point of conversations with other parents in similar situations. But as children grow older and eventually leave home, parents are forced to adjust to their dwindling social lives. While some adults thrive in meeting new people, many struggle to find ways to connect with their peers. Fortunately, there are apps for that. EASY FACEBOOK FOR SENIORS The mothership of social media can sometimes be more of a maze

than a way to connect with others. Facebook took notice of this and created a simplified version of the app specifically designed for those who want to avoid all the distractions. Ease of use makes the opportunity to connect with others who have similar interests simpler than ever. OURTIME Dating in your 50s can be tricky, especially when many singles are looking for specific

It’s a great way to find new people to share the golden years with.

SKYPE You don’t have to wait for the holidays for your next group gathering; Skype allows you the opportunity to have video chats with anyone who has a smartphone. Maybe your

conversation about the football game got cut short at church, or maybe you never finished your discussion at book club. Whatever the occasion, Skype gives you the option to connect with the

requirements in a partner. Some are seeking casual relationships, while others are looking for someone to grow old with. OurTime is a dating app that allows seniors to find partners with similar values, priorities, and passions.

people around you, even when you don’t feel like leaving the comfort of your house.

THE REAL COST OF ASSISTED LIVING HIDDEN FEES AND ADDED SERVICES

According to the U.S. Census Bureau, the population of seniors is growing. Projections indicate that 56 million seniors will inhabit the country by 2020 and 74 million by 2030. As the number of seniors increases, so does the need for senior living facilities. While you can still find plenty of traditional nursing homes, assisted living facilities have soared in popularity over the years. While this type of community has many benefits for seniors and their families, it can be difficult to parse exactly what you’ll be paying for. The pricing structure and contract details require careful consideration before you decide on an appropriate facility for your loved one.

services included in this cost, but as a rule, you can expect that any extra services will increase the price.

Add-ons for assisted living services can range from basic hygiene needs to medical costs. If your loved one needs help dressing, you can expect an additional fee. The same goes for medication reminders, escorts to meals, incontinence care, and many other services. On-site activities are usually folded into the base rate, but be sure of that before signing. Access to a gym, pool, or pharmacy, for example, may incur extra charges. One advantage of the pricing model of assisted living facilities is that you can add services at any time. Many care facilities house seniors of varying health and ability levels. In the event that your loved one needs more services, they are easy to add to your payment package. However, it’s important that you read the terms and conditions detailing any services you decide to include. Otherwise, you may end up paying for a service your loved one doesn’t need. The most important piece of advice when it comes to the hidden costs of assisted living is to read your contract thoroughly. You can also consult an estate planning or elder law attorney to ensure that you’re fully aware of all charges and possible future costs.

Prices for assisted living facilities vary significantly. Because they offer a slew of services, you need to be fully aware of what you’re paying for. The base price you are quoted will usually include rent, meals, and activities offered on the premises. Some companies may offer a few additional basic

P2 | PATRIOTWEALTHNC.COM

Made with FlippingBook flipbook maker