Understanding Senior Living Expenses

Planning for retirement can be a complex process, especially when considering the various associated senior living expenses. An active retirement community like Cumberland Crossing by OceanView offers a vibrant lifestyle alongside financial benefits that can help you make the most of your retirement years.

Understanding Senior Living Expenses

When planning for retirement, it’s crucial to consider the various expenses you’ll face. These can include:

Housing Costs – Whether you plan to stay in your current home or move to a retirement community, housing is one of the largest expenses for retirees. Costs include mortgage or rent payments, property taxes, insurance, and maintenance.

Medical Care – As you age, healthcare costs tend to increase. Medicare covers many medical expenses, but it doesn’t cover everything. Out-of-pocket expenses for prescriptions, dental care, vision care, and long-term care can add up.

Daily Living Costs – These include food, transportation, utilities, and other everyday expenses. Depending on your lifestyle, these costs can vary widely.

Leisure and Travel – Many retirees plan to travel or pursue hobbies, which can add up. Budgeting for leisure activities is important to maintain the quality of life you desire.

How Cumberland Crossing Can Help Manage Senior Living Expenses

Choosing to live in an active retirement community like Cumberland Crossing by OceanView can offer several financial advantages that help manage these senior living expenses.

Predictable Monthly Costs

At Cumberland Crossing, residents enjoy a maintenance-free lifestyle, which includes many services and amenities within a predictable monthly fee. This fee covers property taxes, home maintenance inside and out, landscaping, and snow removal, which can fluctuate significantly when living independently. Having these expenses bundled into one monthly payment eliminates the financial surprises that can come with homeownership. A bonus that is also included is monthly housekeeping!

Access to a Healthcare Continuum

Cumberland Crossing by OceanView provides access to a continuum of care at sister community OceanView at Falmouth, including independent living apartments, assisted living, and memory care. Having healthcare services readily available within the community can reduce the need for expensive, out-of-pocket medical costs. Additionally, the peace of mind that comes with knowing you have a plan for future healthcare needs can be invaluable and can prevent the financial strain associated with unexpected medical events.

Reduced Transportation Costs

Living in a well-located retirement community often means being closer to amenities like shopping, dining, and entertainment. Cumberland Crossing’s proximity to these services reduces the need for frequent long drives, cutting down on transportation costs. Additionally, Cumberland Crossing offers scheduled transportation services and personal transportation, further reducing the cost for gas and the wear and tear and maintenance of your personal vehicle..

Social Engagement and Wellness Programs

Maintaining an active and engaged lifestyle is crucial for long-term health, and Cumberland Crossing offers a range of wellness programs, fun social opportunities, and fitness classes. Residents can enjoy a fulfilling lifestyle without the extra costs associated with gym memberships or external social clubs; Cumberland Crossing even offers a unique Golf FORE Life program, which gives residents complimentary access to two different local golf courses.

Planning for a Fulfilling Retirement at Cumberland Crossing

Retirement financial planning is about more than just saving money—it’s about making strategic choices that enhance your quality of life while managing senior living expenses. With predictable costs, access to healthcare, reduced transportation expenses, and a wealth of social opportunities, Cumberland Crossing provides a financially sound option for those looking to enjoy their golden years with peace of mind. Reach out today to learn more about how Cumberland Crossing can support your financial and lifestyle goals in retirement.