Pros and Cons of Home Care vs. Assisted Living Retirement Facilities

The majority of the planning that we do for our retirement years involves various aspects of finances. We focus on paying down our debts, putting our children through college without breaking the bank, and accumulating enough of a nest egg that we’ll be able to continue living comfortably even after we stop working.

But there are other aspects of retirement that we should be considering besides just personal finances. One important aspect of retirement is where we’ll be living, and whether we’ll need assistance with certain aspects of our daily lives. Most often this means home care or some type of assisted living or retirement center situation.

Here are some pros and cons of home care versus assisted living facilities.

The types of services that can be provided in a home care setting range from non-medical professionals who provide domestic services (help with errands, transportation, shopping, meal preparation, companionship, etc.) to health-related services (which may be provided by physical therapists, massage therapists or medical social workers) all the way up to full medical care provided by doctors or nurses.

The primary downside of home care is the fact that the caregivers are not located close by or always on call. This may not be particularly significant for someone who only needs non-medical home assistance, but it can be a problem for seniors who anticipate needing a little more medical attention.

On the other hand, these types of facilities are often much more expensive than many individuals can easily afford. There may be certain types of government assistance available, but in many cases the total financial burden is simply too high for many retirees.

When moving into retirement, there are different choices available for those who need assistance in their daily lives. The marketplaces for home health care, as well as assisted living centers, are both growing, so retirees will have many choices going forward.