Ask Helen

Why Should I Move to a Retirement Community in This Economy?

BY Helen Shaham

Q.My wife and I are in our mid80’s and have lived in our own homefor over 50 years. For a long time wewere thinking about moving to a retirement community, but now, in thiseconomy, it seems to be the wrong timeto make a move. What do you think?

A.It stands to reason that in theseuncertain economic times seniors maythink that remaining in their ownhomes rather than moving to a retirement community is to “play itsafe”. Well, this may seem like a viable option as long as one is healthyand independent. However, once youand/or your wife’s needs change, (andeveryone in their 80’s knows theydo…) life becomes pretty difficult anda move at such time becomes a daunting undertaking. These are thepeople that end up saying: “I wish Imoved here sooner!”

Too often, older adults and their families view senior living communities such as The Palace as aluxury instead of a necessity. Beingcared for in a comfortable, safe and secure environment is not reserved exclusively for the wealthy. In fact,throughout The Palace’s 30 year history, thousands of everyday familieshave entrusted us with the care of theirloved ones.

Martha and Michael Backer became apart of The Palace 10 years ago whenMartha’s grandmother moved to TheThe Palace Renaissance, an assistedliving community for the past sixyears. “Most seniors want to stay intheir homes until they can’t go on anymore,” explained Michael. “Wefound that Martha’s grandmother hadwaited too long. The reality is that aretirement community is not that expensive when you consider the costsof maintaining a house such as a mortgage, utilities, home & lawn maintenance, security, housekeeping, insurance, and taxes. You also save on costly expenses such as food, entertainment, gym membership, andcar expenses (auto payment, gas, insurance and repairs)…it’s all included here.”

For Ceferino “Pookie” Mendez, anaide at home seemed the perfect solution to assisting his elderly motherand providing the peace of mind hisfamily needed. He soon realized thathis mother would frequently be seatedin front of the television with very littleopportunity for social stimulation.“That was no life. She was a prisonerin her own home,” he said. “As muchas we wanted to care for her, we didn’thave the ability (or sometimes even thepatience) to provide for all her needs.We are a working couple, and it put agreat strain on us and on our relationship… At The Palace, theyknow how to do everything, and all wehad to do was to come to visit, to joinher in The Palace’s wonderful dinnersand parties…”

Continuously, our residents talk aboutthe peace of mind our communitiesprovide for both them and their families. Jeanne Sands, a resident atour Independent Living Community,The Palace Suites, says her familysleeps better at night knowing she’ssurrounded by caring, well-trainedstaff.

And, Alicia Botero’s family doesn’tworry when she is unavailable from

4:30 to 8 p.m. every day because theyknow she’s simply enjoying all the activities, shows, programs and outingsThe Palace offers.

the global financial crisis; however,most seniors bought their housesdecades ago and may have a considerable amount of equity. Waitingfor the market to recover in order toget your dream offer can take a fewyears – years that a person in their 80’ssimply may not have… therefore it is better to either accept the market rateor ask us about our Security Agreement which is designed to helpyou in this economy. You’ll still comeout ahead and be able to enjoy carefreeliving at a senior community.

When you are in your 80’s NOW is theperfect time to do the necessarychange. Despite the downturn in theeconomy, you still have your ownneeds… You owe it to yourself toarrange for a lifestyle in a safe, comfortable and caring environment. After all, no one likes to be a burden on his family…

Perhaps resident Jeanette Sastre said itbest: “Don’t wait for tomorrow. It isnot guaranteed. There’s no better timethan today.”

Helen Shaham and her husband Jacobhave been operating retirement communities for nearly 30 years. ThePalace Suites in Kendall is a luxuryIndependent Living Community foractive seniors. In addition, The Palaceat Kendall campus is home to twoAssisted Living Residences and aNursing & Rehab Center. They alsooperate The Palace Gardens AssistedLiving Community in Homestead,Homestead Manor Nursing Home andThe Palace @ Home, a Medicare Certified Home Health Agency. Theirtwo newest projects are The Palace atWeston – luxury living for those 55 andover, and The Palace Tel-Aviv, a continuing care retirement communityin Israel. They have two communitiesunder development – The Palace atWeston Senior Living and The Palaceat Coral Gables. More information canbe found on the company website,www.thepalace.org or by calling 305-270-7000.