Budgeting for elderly care and the costs of senior living facilities are as varied as seniors themselves. We will take a look at the things you need to consider when determining what you can afford and how to pay for it.

Most people hope and plan to live independently in their own home for the rest of their lives, but at some point, you or someone in your family will likely need some form of assisted living. Determining what it will cost can be confusing and daunting. Following are some factors to consider.

When it comes to aging loved ones, looking to the future can often be overwhelming and full of unknowns. The prospect of transitioning your elderly parent out of their home is difficult and emotional from the start and without a clear understanding of your options can be downright agonizing.

If your parent is not able to live independently any longer, your first thought may be to place your loved one to go into a nursing home, but that is not your only option. Assisted living communities offer a long-term care option for adults who can retain independence but need to receive some level of care on a daily basis. To help you understand the services offered by an assisted living community and how it differs from a nursing home, we’ve put together a list of the top differences.