Funding Solutions Every Family Should Know About

Funding Solutions Every Family Should Know About

When it comes to healthy aging, quite honestly, there’s a lot to do. You’re supposed to make sure to keep your body active and your brain engaged all while maintaining your social connections as well. Sure, the benefits to your overall well-being are worth the effort, but retirement is supposed to be a time with less responsibility on your plate, right? Well, it turns out that in senior living you can have your cake and eat it too, so to speak. Here’s how programs like our Vivid Life make keeping active, engaged, and connected easy and fun! 

Benefits of Healthy Aging 

Good things happen when you focus on healthy aging. In addition to feeling better overall, which in and of itself is a win, other benefits of keeping active, engaged, and connected include:  

  • Improved ability to do everyday things ​ 
  • Reduced impact of illness and chronic disease​ 
  • Enhanced mobility, flexibility, and balance
  • Improved sleep
  • Increased energy level
  • Reduced feelings of depression and stress
  • Increased feelings of happiness and self-confidence
  • Reduced risk of cognitive decline 
  • Increased mental adaptability and cognitive reserve 
  • Improved memory recall and problem-solving skills 
  • Improved concentration and attention to detail  

How Senior Living Can Help 

At home, particularly when living alone, it can be hard to stay as active, engaged, and connected as you’d like. From lack of opportunity to lack of motivation to lack of transportation to mobility challenges, and more, it’s tough, we get it! That’s why we created the Vivid Life program in our senior living communities. It’s composed of three parts: Vibrant Body, Vibrant Brain, and Vibrant Connections. Here’s what each entails:  

Vibrant Body We offer amenities such as a state-of-the-art fitness center, a pool, walking trails, gardening opportunities, and even a dog park to help you stay active. A sample of activities includes:  

  • Walking club – Daily walks at different outdoor locations using pedometers to measure steps. 
  • Yoga – At least once per week for gentle yoga, and once per week for mindful breathing. 
  • Fitness classes – At least two times per week using a variety of hand weights, resistance bands, and circuit-type exercises. 
  • Tai Chi – At least once per week with a live instructor. 
  • Non-traditional exercise – Dancing, gardening, etc. at least two times per week. 
  • Physical games and sports – Golf, putting, bowling, croquet, bocce, and ping pong available daily with organized events one to two times per week. 

Vibrant Brain We offer monthly calendars filled with classes, events, creative arts, and enrichment opportunities to help keep you engaged. A sample of activities includes: 

  • Visiting lecture series – Twice per month with topics such as cultural, historical, local interest, career-oriented, etc. 
  • Creative art series – At least one per week with a theme that runs 3-6 weeks, such as poetry writing, storytelling, painting, digital photography, etc. 
  • Learning series – At least three times per month with an emphasis on learning something new such as foreign language, sign language, technology, hobbies, etc. 
  • Games – At least one time per week and may include poker, bridge, Scrabble, etc. 
  • Mindfulness – A meditation class once per week and gratitude discussion group twice monthly. 
  • Church service – At least once a week through visits by local churches. 
  • Stress reduction – At least once per month class that offers deep breathing exercises, nature walks, music appreciation, spa-type treatments, etc. 

 Vibrant Connections We offer resident-led clubs, social events, outings and volunteer opportunities for any interest to help you stay connected. A sample of activities includes: 

  • Outings – At least twice per month and may include going to concerts, art shows, museum visits, theatre productions, etc. 
  • Intergenerational programming – At least once per month and focuses on building relationships between young adults/children and residents. 
  • New resident welcome party – At least once per month to formally introduce all new residents, and includes ice breakers, social games, etc. to encourage connection. 
  • Philanthropic program – At least once per month provide residents the opportunity to give back to the community, such as volunteering for a local food bank or pet shelter. 
  • Resident-led clubs – May include game clubs, professional clubs, common interests, etc. that meet at least monthly.  

What’s more, it’s all right outside your door (or transportation is provided offsite) and all in a supportive environment with home maintenance, housekeeping, and restaurant-style dining freeing your time to make it even easier to stay active, engaged, and connected. 

Learn more about Vitality Living’s Vivid Life programs. Or find a Vitality Living community near you today to schedule a tour. 



It isn’t uncommon for a senior to want to age at home instead of moving to a senior community. For some it is due to sentimental reasons: they don’t want to give up the house they raised a family in and all the memories attached to it. For others it is due to financial concerns. They believe it is less expensive to age at home because their mortgage is paid off. .

But aging at home isn’t always the best solution. In fact, senior living communities like Vitality help improve quality of life. From better nutrition to daily life enrichment activities, older adults who make the move to senior living have an opportunity to continue to learn and grow.

Learning how a senior living community is a smart financial decision and what types of funding are available might help you and your senior loved one plan for the future.

How to lay the foundation for such a future? Here are the key elements to consider as one explores financial opportunities in support of senior living options.

Amenities and Services Offered in Senior Living Communities

One thing to remember as you are deciding whether a senior should age at home or move to a senior community is just how many of their current expenses will be included in the basic monthly senior living fee.

A few examples of included expenses are:

  • Housing — typically an apartment, villa or suite
  • Delicious, well-balanced meals and snacks
  • Transportation services
  • Basic utilities
  • Entertainment and outings
  • Wellness programs
  • Maintenance and repairs
  • Housekeeping and laundry
  • Emergency call system
  • Security system

When you factor in the savings your older loved one will enjoy by not having to pay a variety of other expenses — such as property taxes or homeowner’s insurance — it’s easy to begin to see how senior living communities are more affordable than you think!

It also helps to make sure you are aware of the variety of programs that might help finance senior living.

Funding Options to Finance Senior Living

While the majority of expenses related to senior living are paid for using a family’s private resources, there are some programs that might be of help. From special assistance for veterans to bridge loans specifically for seniors, here’s a look at a few of the funding options your loved one may qualify for.

Short-term Bridge Loans

For most older adults, their greatest asset is their house. They usually need the proceeds from the sale of it to finance a move to senior living. But it often makes the transition a little less stressful if the senior can move before the house goes on the market.

This is where a bridge loan can be helpful.

These loans allow families to finance senior living expenses while they are preparing the house to be sold or are waiting for the most opportune time to sell investments.

While these loans can be arranged in a variety of ways, one popular option requires the senior to pay only the interest on the loan in the short-term. Once the asset has been liquidated the borrower pays back the loan in a lump sum.

Some financial institutions will split bridge loan payments among several family members. This allows adult children to help repay the bridge loan while waiting for the senior’s house to be sold.

Life Settlement Companies

Another option worth considering is to work with a reputable life settlement company if your loved one has a current life insurance policy.

By entering in to an agreement with a life settlement company, a senior can sell their life insurance policy to a third party. They will then receive a lump sum payment. While the reimbursement isn’t as much as the face value on their policy, it is usually significantly higher than the policy’s cash surrender value.

It is always best to talk with an experienced elder care attorney or estate planner before signing any life settlement contracts.

Veteran’s Aid & Attendance Benefit

Another potential source of funding for assisted living is the Veteran’s Aid & Attendance benefit. Many families of veterans aren’t even aware of it! If a veteran meets the qualifications, the awards can be significant.

In 2017, a veterans and their spouse might receive up to:

Married Veteran:  $2,127 per month
Married Vet (spouse needs care):  $1408 per month
Single Veteran:  $1,794 per month
Surviving Spouse (no dependents):   $1,153 per month

The U.S. Department of Veterans Affairs has more detailed information about the Aid & Attendance Benefit on their website.

Questions about Financing Senior Living?

This guide to long-term care financing will help you learn more about the various ways you can fund senior living.

If you have questions and would like to speak to someone in person, the experts at Vitality Senior Living will be happy to help. Contact us to schedule a time to talk at your convenience.

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