senior housing cost - preparation

Preparing For Retirement: Finances and Senior Housing

Retirement signals the beginning of your second life, which requires proper planning for the type of lifestyle you need to take. This is because even if you stopped working, the government still wants you to pay your tax dues. Thus, it will depend on where you live, the income you are going to receive, and how much.



Social Security Tax


In many states in the U.S., Social Security benefits are not subject to tax. However, it is still included as taxable income. Find out how you will owe for the income tax based on your Social Security income from the guidelines below.


  • Single retirees with a total income of not more than $25,000 will not be taxed based on the Social Security benefits.
  • Single retirees with a combined income between $25,000 – $34,000 will be taxed 50% of the benefits.
  • Single retirees with income more than $34,000 will be taxed 85% from the benefits.
  • Income of married couples filed jointly which is less than $32,000 will not be taxed. However, income ranging from $34,000 to $44,000 will be taxable by up to 50%. Also, for income more than $44,000, a taxable rate of 85% will be imposed.



It is also important to think ahead about your finances and senior housing cost. If you are going to adapt to the changing life and financial circumstances, it is best to have advanced planning, which is key in the evolution to the new changes in life.



Buying your first home, saving for the education of your children, or planning for retirement are all the same since it is essential to respond to the changing circumstances in life. That is why Social Security benefits are crucial components of any well thought out retirement plan.



If you only observe the numbers, 74% of single seniors and 51% of married couples rely on Social Security benefits in 2016. This is more than 50% of their monthly income. In fact, in the year 1960, 35% of those more than 65 years old lived in horrible poverty, which is opposite to the numbers in 2012 at no higher than 9%.




Living Retirement Life to the Fullest


In order to ensure that you gain the baseline of income, you can seek help from a certified public accountant to provide basic accounting for those that want to prepare for senior housing cost. They are able to help seniors as well as their families to have peace of mind. In this case, seniors are able to live their retirement life to its fullest.




Final Thoughts


It is important for seniors to consider proper planning when it comes to retirement preparations. Thus, seniors need help to achieve a better life without any problems involving finances and senior housing cost.




Consulting tax professionals or certified public accountants can help a lot in ensuring that they don’t live past their available income. This can guarantee retirees can stay in their own place as long as possible instead of transitioning to senior housing, nursing home, or family member’s home. Moreover, it is important since they need to have financial resources to do so.




Richmont Senior Living is proud to serve Ashland, NE and the surrounding cities: Memphis, Springfield, South Bend, Greenwood, Murdock, Waverly, Murdock, Ithaca, and Chalco

assisted living facilities

Assisted Living Facilities for Seniors Living With Diabetes

The number of people with diabetes in the U.S. alone has already reached a ratio of one out of four. Sadly, this case has been deemed to have no cure. That’s why people living with diabetes, particularly seniors, need to manage the disease as best as possible. Fortunately, managing it has now become easier even with seniors in assisted living facilities. In fact, there are smarter ways in order to live with diabetes. Take a look at how you can live a satisfying life even with diabetes.



Types of Diabetes


The first thing that you should know about diabetes is that there are different types. Moreover, it is attributed to high blood glucose levels as do other diseases, which results from the defect in the production and use of insulin in the body.


  • Type 1 Diabetes – insulin produced by the pancreas controls the glucose levels of the body. In type 1 diabetes, the pancreas is not able to produce enough insulin. Therefore, people having this condition require insulin via injection or pump. Type 1 diabetes accounts in 5% of all adults with diabetes. The symptoms of type 1 diabetes include extreme hunger, fatigue, frequent urination, unusual thirst, and weight loss.


  • Type 2 Diabetes – This occurs when the pancreas is not able to create a substantial amount of insulin or unable to use it effectively. This develops typically in people more than 40 years old. In fact, it accounts for about 95% of all cases of adults with diabetes. The symptoms of type 2 diabetes include blurred vision, confusion, depression, numbness, and wounds that heal slowly, as well as any of the symptoms of type 1 diabetes.




Causes of Diabetes


The causes of diabetes baffle even doctors, because they are unable to pinpoint the specific cause. Nevertheless, aging, genetics, and lifestyle can play a major part in the development of diabetes.



Controlling Diabetes


It might not be enough for some people to control diabetes with exercise and diet alone. In such cases, it can be done via oral medications in order to increase insulin levels or to aid in the ability of the body is responding to insulin. The drugs recommended for such cases include:


  • Alpha-glucosidase inhibitors
  • Biguanides
  • Sulfonylureas
  • Thiazolidinediones



Seniors Living with Diabetes


Here are some important tips intended for seniors living with diabetes, which has been recommended by the American Association of Diabetes (AAD) to be performed on a daily basis. In short, these tips are recommendations only, but at the end of the day, your health will depend on how you manage your lifestyle.


  • Checking the blood glucose
  • Consuming the right kinds of foods at just the right measurements
  • Get active
  • Find out more about diabetes
  • Stop smoking
  • Take medicines only prescribed by your doctor



It is also important to know which foods to avoid for seniors in assisted living facilities. According to the AAD, here are food tips to consider for those older than 55 years of age.


  • Avoid all-you-can-eat buffets
  • Choose a vegetable or fruit instead of fries on the side
  • Get dressings and sauces on the side
  • Split the dessert with your partner or eat only half of what you used to consume
  • Start eating with salad or broth-based soup
  • Utilize the plate method


Contact Richmont Senior Living for more information on our assisted living facilities today!



Richmont Senior Living is proud to serve Ashland, NE and the surrounding cities: Memphis, Springfield, South Bend, Greenwood, Murdock, Waverly, Murdock, Ithaca, and Chalco