Understanding the Cost of Senior Independent Living in Bakersfield
If you're considering moving into a senior living community in Bakersfield, CA, you may be wondering about the cost of senior independent living and whether it fits comfortably into your budget. With the right financial planning and choosing a retirement community that fits your needs and budget, your independent living expenses can be manageable.
Have you ever wondered if you can actually afford your ideal retirement lifestyle? When you sit down and run the numbers, the task can be daunting. After all, the prospect of exiting the workforce and subsisting on savings and a fixed income may be scary to think about.
Contrary to popular belief, budgeting for senior housing in specialized independent living communities for seniors in Bakersfield, CA, is not only possible but very doable. Here are some key tips for financially managing your retirement in the Golden State.
What Is the Average Cost of Senior Independent Living?
The price tag for senior independent living varies based on many factors. Some of the considerations include:
- Apartment size: Senior living communities often have different floor plans, from suites to two-bedroom, two-bathroom models.
- Amenities provided: Many communities come with exclusive programs and amenities that are included in the overall cost.
- Location: Cities like Bakersfield tend to be more affordable than other parts of California.
- Level of care: Independent senior living is more affordable, but other options, like memory care and assisted living, may require more hands-on care and increase the cost for residents.
- Cost of living: Expect increases in the cost of living based on factors outside of your control, which can impact how much you spend on senior housing.
The Benefits of Independent Senior Living
While independent living expenses may seem high initially, it is important to understand that the price for many communities is all-inclusive. For a set monthly fee, you can experience all that your community has to offer, from perks and amenities to lifestyle programs.
Spaces Designed Exclusively for Seniors
Making modifications to your existing space can be time-consuming and expensive. At Columbus Estates, our apartments are designed specifically for seniors, with elements such as fall prevention devices and mobility-friendly floor plans.
Chef-Prepared Dining
Do you ever get tired of cooking for yourself? Specialized diet requirements for seniors can be overwhelming as well. Columbus Estates features chef-prepared dining, where our residents can have three meals a day cooked by a team of experienced culinary staff who also provide tableside service.
Plenty of Activities and Events
At Columbus Estates, you do not have to sit at home, wondering if there is anything on TV. There are numerous events and activities within the community. With a robust calendar, there's always something to discover or enjoy.
Budgeting for Senior Housing
If you have decided to move to a senior living community, the next step is determining affordability. How will you pay for your new lifestyle, and how much will you need to budget for other areas of your life?
Consider if you are going to liquidate larger assets, such as your home or vehicle. These can provide plenty of funds to support your senior lifestyle for many years, and even longer if you invest them properly.
Speak with a financial advisor to determine the best course of action to maximize the value of your money. They may suggest investing in bonds and treasury bills, which are safer options that can return modest amounts of interest but come with less inherent risk.
You also need to budget for cost-of-living increases and potential increases in the level of care. For example, if you have dementia, you may be in the early stages, but need memory care down the road, which can represent an additional financial burden.
Frequently Asked Questions
What Do I Need for Retirement Affordability in CA?
Financial planning for retirement in California heavily depends on factors such as the type of community you choose and its location. Coastal areas tend to be more expensive, while inland cities are more affordable.
Despite being one of the most well-known areas in the Golden State, Bakersfield is actually one of the more affordable retirement areas, as reported by Islands. Seniors residing in Bakersfield can estimate an average payment of $1,800 per month, which is relatively low compared to other parts of the state.
Are There Any Special Programs for Veterans?
Yes! Columbus Estates senior living community is proud to offer special discounts for qualified former servicemembers. Veterans can receive a discount of 50% on their first month's rent annually.
Additionally, we partner with programs like Patriot Angels to offer further benefits, including a one-time $1,500 discount on your second month's rent. These types of programs also provide valuable benefits to senior veterans and help them access exclusive programs.
When Should I Consider Moving to Senior Independent Living?
The choice to move to a retirement community is ultimately up to you. Consider your everyday lifestyle and how you could benefit from retirement living.
For instance, do you find yourself struggling to maintain a larger home? You may have too much space to manage after your children move out, or you simply want to downsize. In that case, a senior living community is a perfect opportunity.
Additionally, many seniors face loneliness after leaving the workforce, which can be compounded by factors such as a lack of transportation. A senior living community can provide valuable social interactions for seniors, right outside their doorsteps.
Consider Moving to Columbus Estates
The cost of senior independent living may seem daunting, but it does not have to be. With many retirement community options, such as Columbus Estates, Bakersfield seniors can choose a residence that helps them thrive at the right price point.
At Columbus Estates, we value both cost transparency and providing premier services to our residents. With on-site amenities such as chef-prepared dining and health and fitness programs tailored toward seniors, we help our residents cultivate a beautiful and enriching lifestyle in their golden years.
Would you like to learn more about all we have to offer at Columbus Estates? Reach out to us today, or visit our beautiful community in Bakersfield, CA, to see it for yourself. We can't wait to meet you!