It’s no secret that the cost of living has been on the rise, and amidst the current trade war with the U.S., on-and-off threats of tariffs, market fluctuations, and more, there is a lot of economic uncertainty.
Retirees can be particularly vulnerable. Roughly one in four Canadian seniors report that rising prices are affecting their ability to meet day-to-day expenses, and the costs of essentials like groceries, gas, bills, and medication continues to change.
Retirement living is one way to help alleviate some of this financial stress. Here’s how.
Managing potential increases in heating bills, electrical costs, and home malfunctions can be difficult on a fixed income. However, in retirement living, these variable costs are incorporated into a single predictable bill, and any changes in expenses are shared across all the residents, rather than falling solely to you.
In retirement living, it’s our job as a business to manage changes in the prices of essentials like gas and groceries. At Sorrento, beautifully prepared, restaurant quality meals are included in your base cost, and we offer complimentary transportation service for everything from casual outings to scheduled appointments.
When living on your own, in tighter economic situations, some retirees may make decisions to cut certain non-essential personal care or private health services, which can affect their quality of life. At Sorrento, our assisted living package offers medication management, personal care, housekeeping services, and nursing services, all for predictable and manageable costs that are integrated into your regular payment. Find a full list of the included features here.
Retirement living often comes at a premium over aging in place, but the cost of predictability, service, and peace of mind are especially important in the current economic climate.
Want to learn more? Book a tour today to find out more about what Sorrento Retirement Residence offers and whether it’s right for you.