Retired and single, but not alone
HERE’S WHY NOT LIVING SOLO IS IMPORTANT AS PEOPLE AGE
Where you live has an impact on how well you live. That’s especially true for older single Americans.
Forty-four percent of retirees are single (either divorced, separated, widowed or never married) and experts say they should consider early on whether they risk becoming ill or disabled without support at home.
Besides the difficulty of living alone with health needs, the less obvious “but perhaps more significant reason” to consider a move into a communal living arrangement is for socialization, says Andrew Carle, an adjunct professor with Georgetown University’s Aging and Health Program.
The continuing care retirement community or CCRC, is the popular alternative to living alone. Typically, CCRC residents live in an apartment, but are offered participation in organized activities and dining hall meals. If health needs dictate, residents move to assisted living quarters or a nursing facility on the same site.
Carle points to a recent study from Northwestern University and The Mather Lifeways Institute that showed 70 percent of CCRC residents scored higher than a peer group living alone on social, physical and intellectual data points, among other key metrics related to overall health. A number of studies “provide ample evidence on how social engagement is related to positive outcomes in older adults,” says Jialu Streeter of the Stanford University Center on Longevity.
But with some 51 percent of unmarried female retirees having an annual median income of $11,000, “shared housing arrangements are a more practical option for many,” notes Catherine Collinson, president of the Transamerica Center for Retirement Studies.
Many nonprofits help people find a homesharing arrangement, whereby a homeowner offers accommodations to another person in exchange for money or household help. Find more information at nationalsharedhousing. org.
A CCRC can charge entrance fees of “$107,277 on the low end to $427,054 according to the data at myLifeSite. net,” says Carle. Monthly service charges are also typical. Some CCRCs do not require an entrance fee, charging a monthly rental instead.