← Back to Blog

What Are the Chances I’ll Need Assisted Living in the Future?

Female pushing male in a wheelchair to view community garden

As you research your retirement options, you know you wouldn’t be where you are today without planning. If you want to ensure you’re able to enjoy life your way now and into the future, consider a Life Plan Community that offers a Life Care contact like Regency Oaks. We give you an engaging lifestyle today with access to higher levels of care like assisted living, memory care, skilled nursing and rehabilitation, if ever needed. If you don’t think you’ll ever need a higher level of care, consider these numbers:  

  • A 2024 MassMutual study found 48% of retirees retired earlier than planned and of those that did, 25% of the time it was due to an illness or injury. 
  • Among assisted living residents, 42% develop Alzheimer’s or dementia, eventually requiring a move to memory care. 
  • Forbes Health found the median stay for assisted living is 22 months, with 20% of seniors needing more than 5 years of long-term care. Some states have limited assisted living availability, so planning now is important. While some seniors choose to receive care in their home, Forbes found 24/7 in-home care is much more expensive than assisted living. 

What is Assisted Living?

An assisted living community offers a maintenance-free lifestyle with a care team available 24/7 to help with activities of daily living (ADLs) when and where needed. (ADLs include everything from getting dressed and bathing to medication management and eating.) Assisted living communities can also feature chef-prepared meals and a calendar full of activities, classes and programs. Plus, there’s scheduled transportation for group outings, shopping and doctor appointments. Residents have their own apartment homes and they’re free to enjoy all the services and amenities the community offers.  

Choosing Between Care at Home and Assisted Living

The effectiveness of in-home care depends on your needs. For example, if you need help with dressing or bathing, a home care professional can stop by your home to help. However, once you go beyond two or three main areas of focus, in-home care becomes more expensive and harder to organize.  

Assisted living provides access to round-the-clock care and help maintaining your highest level of independence. You’ll also have a range of services and amenities to help you make new social connections.  

The Advantages of In-Home Care and Assisted Living

When it comes to choosing between in-home care and assisted living, both offer benefits you should consider.  

Benefits of in-home care: 

  • Ability to stay in your home  
  • One-on-one attention for your specific care needs  
  • Freedom to choose your caregiver 

Benefits of assisted living:  

  • No home modifications needed  
  • Don’t have to manage, plan or schedule care  
  • Opportunities to socialize and explore your interests  
  • Personalized care plan  
  • Easy access to higher levels of care, if needed  
  • 24/7 security 

The Drawbacks of In-Home Care and Assisted Living

There are also limitations to in-home care and assisted living.  

Drawbacks of in-home care:  

  • Expensive home modifications are often required 
  • Increased risk of becoming more isolated in your home 
  • Management of your caregiver and monitoring other aspects of your health  
  • Difficulty in having caregivers take on additional tasks  

Drawbacks of assisted living:  

  • Challenges of leaving your home and downsizing  
  • Cost varies depending on the types of community amenities  
  • Takes time to adjust to your new home  

Benefits of a Life Plan Community with Life Care

All Life Plan Communities offer higher levels of on-site care, but not all communities offer Life Care, a contract option that provides access to higher levels of care at predictable monthly rates. Advantages to picking a Life Plan Community with Life Care like Regency Oaks include:   

  • Savings: You’ll see substantial savings compared to the average cost of private assisted living, memory care and skilled nursing. 
  • Asset preservation: By paying lower prices for higher levels of care, you’re preserving your assets over your lifetime. 
  • Tax savings: A portion of your entrance and monthly fees could be tax-deductible as a prepaid health expense. As with all financial decisions, check with your financial advisor before deciding. 
  • Peace of mind: If your physical or mental health changes, you’ll have a plan in place. By pre-planning your future now, you’re maintaining control over those decisions. 

Fully Enjoy Today with a Smart Plan for Tomorrow

Not sure if you’ll need assisted living, but want to play it smart and prepare for life’s what ifs?  Then choose a Life Plan Community with a Life Care Contract like Regency Oaks. That way you can focus on enjoying a fun-filled, worry-free retirement in independent living knowing that care will be available at a predictable monthly rate if you ever need it. For more details or to schedule a visit with us today, use our Community Assistant chat feature or contact us here.