July 27, 2020 —The decision to move to a Life Plan Community (also known as a CCRC) is a big one — and finding the right fit can often feel overwhelming. When it comes to deciding where to call your future home, you deserve to have all the information. And while you probably have plenty of questions about the living options, the activities, the care, the people and the food, there’s one important question that is likely top of mind: can I afford it?
It’s impossible to know what the future holds, but we can help you determine whether moving to Kendal at Lexington is a good financial fit for you. Since making long-term plans is rarely straightforward, we have a new tool to help simplify some of the complexity.
Gauging Finances with MoneyGauge
Last year, KaLex launched a financial calculator called MoneyGauge, created by myLifeSite™. As an organization specifically focused on helping older adults research and understand their retirement options, myLifeSite™ designed this tool to address your unique life situation.
According to the president and founder of myLifeSite™, Brad Breeding, this tool was developed to help provide valuable insight early in the retirement decision making process. Kendal at Lexington is lucky to be among the less than two dozen CCRCs that currently offer the calculator.
Using seven straightforward questions, MoneyGauge will tell you whether joining the community at Kendal at Lexington is a good fit for your financial future. All you need is a general idea of your current financial situation — for instance, approximately how much do you have saved for retirement, within a range of $50,000? — and you can gain a clearer picture of your options.
MoneyGauge calculates your results almost instantly, then sends them to you via email. You’ll learn whether the community in general is a good financial fit for you (and your partner, if applicable), as well as which housing options suit your budget. However, it’s important to note that the calculator does not provide a guarantee of financial approval; instead, it is only meant to act as an informative guide.
Aiding Preliminary Decision-making
“This online calculator can offer a level of clarity fairly early in the research process about how well a prospective resident’s finances potentially align with the type of home and lifestyle they are looking for,” say Jessica Buhler, Director of Marketing at Kendal at Lexington. “The benefit of using MoneyGauge is that in about two minutes someone can get a preliminary assessment to help gauge affordability and they can do this on their own time right there on the retirement community’s website,” explains Brad Breeding.
Getting the Information You Need
Your financial future isn’t something you can leave up to guess work. Gather all of insights you need to make an informed decision for your future.
Ready to find out if living at Kendal fits your financial plans? You can access the easy-to-use MoneyGauge calculator here.
To learn more about the types of contracts offered to residents at Kendal or to request more information, click here.