Assisted Living is going to cost you to start at least $3300 for a studio apartment and probably more by the time you need it. Add on someone to help you with a shower, about $200 a month; $250 medication management; add on for help with dressing, escort to meals, mobility assistance. If you need memory care, triple your costs.
Long term care is one solution, best idea is to have your kids pay for it to protect their inheritance if you have kids. Costs of LTC go up, last year we had a 50% increase which had nothing to do with us as nothing has changed for us, it is that the companies are fewer and fewer who are providing it because of the payouts.
If you are a Veteran, you and your spouse may be eligible for up to a few thousand dollars a month as a couple, less as an individual, and that application takes about 6-12 months and cannot be applied for until you need it.
There is Medicaid support for people who do not have enough but that covers the assistance and not the rent.
There is no easy answer to this. Also the proceeds of your home can go toward monthly rent payments but if you want your spouse to stay in the home you may not have enough for Assisted Living.
The Villages has no shortage of Assisted Living. There are many here now and many in progress of being built. They are all expensive.
As I have said many times before on this forum, don't just look at how beautiful the building is. Talk to residents, talk to families, and also find out about staff turn over. If staff leave in droves, there is a problem. Who is the Administrator and what is their personality ( I am a licensed Assisted Living Administrator but not running a property at this time) Make sure the Administrator has personality and is approachable and cares as much about mission as margin.
Look at past surveys of the property, ask for them, they are public documents. See where the facility is strong and weak.
If you need help, call me, I am a sponsor on this site.
The Other Daughter: Assisted Living and Elder Care Services
Jane Bloom
The Other Daughter