Lee Tuchfarber serves as the chief executive officer of Renew Senior Communities, a senior living community with campuses in Aurora, CO, and Glenwood Springs, CO. Under Lee Tuchfarber’s direction, Renew Senior Communities offer assisted living and memory care housing options where residents enjoy a high quality of life, top amenities, and an engaging social calendar.
When seniors transition from independent living to community living, they may have questions about financing their new housing situation. Typical retirement revenue streams, such as Social Security and pensions, may not be enough to cover all costs.
Common ways to finance senior housing include selling or renting a previous residence. Using a reverse mortgage to liquidate home equity is also an option.
If policyholders require daily supervision, long-term care insurance will pay for caregiving in several settings. Additionally, some life insurance policies cover senior housing expenses. Certain government benefits, such as Medicaid and Veteran's Aid, can also go toward long-term care.
When seniors transition from independent living to community living, they may have questions about financing their new housing situation. Typical retirement revenue streams, such as Social Security and pensions, may not be enough to cover all costs.
Common ways to finance senior housing include selling or renting a previous residence. Using a reverse mortgage to liquidate home equity is also an option.
If policyholders require daily supervision, long-term care insurance will pay for caregiving in several settings. Additionally, some life insurance policies cover senior housing expenses. Certain government benefits, such as Medicaid and Veteran's Aid, can also go toward long-term care.
