Aging isn’t cheap, especially when you factor in everything from healthcare to living arrangements. In particular, many families don’t think they can afford senior living communities.
As it turns out, however, aging in place comes with its own set of financial challenges — many of which are unknown and therefore left out of the planning process.
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Of all the decisions you make with your parents, few carry more weight than the choice of elder care. The better you are at finding a safe and comfortable elder care solution for your parents, the easier it is for them to stay healthy and happy for the rest of their lives.
One big decision you’ll likely face is whether to move your parents into independent living, personal care or memory care or allow them to age in place. In making this decision, you and your parents need to consider all the pros and cons of aging in place:
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