Why You Should Invest in a Retirement Community that Invests in its Residents
When you’re ready to make the move to a senior independent living community in Fort Worth, there are a number of factors to consider. Of course, cost, location and whether or not you can picture yourself there are at the top of the list. Another question that might matter to you: who operates this community?
Some senior living communities might be run by a for-profit company, while others might be operated by a faith-based organization or a non-denominational non-profit. Knowing this information about a community can provide insight into what the community prioritizes and where their values lie. We even recommend asking those questions directly when you go for a tour — our team members love to talk about our mission!
Planning Ahead for Retirement
Many of us start saving or thinking about saving for retirement early in our careers, when retirement is still a ways away. Even if you’re been saving for decades, it can still be scary to think about life without a steady paycheck or hard to wrap your head around what exactly your expenses will look like in retirement. Our best advice? Start talking over your retirement wishes with loved ones and a financial advisor, then educate yourself now on the cost of those options. If your wish is to age in place, consider the costs of long-term care insurance and in-home health aides. If you’d rather ditch the trappings of homeownership for a luxury senior living community, inquire about entrance fees and monthly fees at nearby communities.
The American Association of Retired Persons (AARP) suggests evaluating four primary factors when planning for life in retirement:
- How much will you spend?
- How much will you earn on savings?
- How long will you live?
- How much can you withdraw from savings each year?
Retiring in a Lifespace Community
The Stayton is a Life Care community in Fort Worth, Texas. This means our residents have the full continuum of care available to them in one convenient location. Upon securing a home at The Stayton, independent living residents pay a one-time entrance fee that covers the cost of care as long as they live in our community. This provides significant peace of mind to residents and their families alike, knowing that future care is planned for. After that, there is simply a predictable monthly fee that covers living expenses like dining, activities and maintenance.
If through no fault of their own, a resident’s financial situation changes, our Benevolent Care Promise is our commitment to residents that we will continue to support them for the duration of their time at The Stayton.
The Benefits of the Lifespace Foundation
The Stayton at Museum Way is owned and operated by Lifespace Communities, a non-profit organization that has 40 years of demonstrated financial success. Part of that success is due to The Lifespace Foundation, the charitable giving arm or our organization. The health and happiness of our residents is at the core of everything we do. Lifespace Communities focuses on this in the context of the bigger picture, including team members and community maintenance and improvements. The Foundation’s sole focus is on our residents and their experience at our communities.
Lifespace Foundation Passion & Purpose
The Benevolent Care Promise is our unwavering promise that if, even after years of careful planning, a resident outlives their financial resources, we will support that resident for the remainder of their life. Through this promise, The Foundation supports an average of 40 residents each year. While benevolent care is the cornerstone of The Lifespace Foundation, it is only one of the many ways The Foundation focuses on improving the lives of our residents. The Lifespace Foundation provides opportunities for residents to make smart financial investments as well as making meaningful investments in The Stayton itself.
We partner with The Stayton residents to learn more about what they would like to see in their own community, because who knows this community better than the people who live here? It is our goal to help residents own their experience during their time on our campus. From updates to the library’s book collection to scholarships for beloved team members, The Stayton’s Foundation Advisory Committee works hand-in-hand with The Foundation to advocate for and invest in our community.
Want to learn more about life at The Stayton or schedule a tour? Please fill out the form below or give us a call at 817-349-7140.