Johns Hopkins University's Center for Innovative Care and Legg Mason recently issued a study titled "Aging and It's Financial Implications: Planning for Housing.
Kathleen Pritchard, Managing Director with Legg Mason, talks with host Roger Whitney about the importance of planning ahead for housing during retirement
There are three typical phases during retirement. The:
- Go Go Years--when you are healthy and active (60s & 70s)
- Slow Go Years--when you slow down due to health issues (70s & 80s)
- No Go Years--the late retirement years (80s & beyond)
By planning ahead for each of these phases, you can make smarter financial decisons and maintain control over your lifestyle choices.
There are five basic housing options for retirees:
- Aging in place
- 55+ independent living communities
- Continued care retirement communities (CCRCs)
- Assisted living facilities
- Skilled nursing facilities
You can find due diligence worksheets to help you find the option that is right for you at rogerwhitney.com/worksheets)
