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Aging at Home as Part of a Village

CFP Estate Planning Financial Advisor Financial Planner Financial Planning Financial Planning for Women Financial Services Long Term Care Registered Investment Advisor Retirement Advice Retirement Planning RIA Wealth Management February 26, 2020 Author: Deborah Doyle

The Baby Boomer population is aging, and with their retirement is on the horizon, many are giving more thought to where they will be living during retirement years, accessibility to medical care and social circles. With many seniors preferring to “age at home” rather than a typical nursing facility, there has been a development of a new independent living alternative called “villages”.

What is a village? A village is different than a retirement community. It is a member driven organization serving residents over 50 to remain actively engaged in community life as they grow older. It is a growing network of neighbors helping neighbors to live a productive and active lifestyle in their homes.

Where are Villages located? They are in most cities and suburbs across the United States. Some localities even have multiple villages.  For instance, there are 18 villages in Washington, DC; 40 in Maryland; and 16 in Virginia.

What is provided through villages? Members support each other through social, cultural and wellness activities, and neighbor to neighbor services that celebrate the opportunities and challenges of aging at home. Some examples of what is offered through a village are:

  • Activities
    • Exercise Classes and Groups
    • Language, Movie and Book Clubs
    • Organized trips to Sporting Events, Museums or the Theater
  • Programs and Services
    • Monthly Birthday Events
    • Happy Hours
    • Support Groups after Hospitalizations
  • Community Engagement Opportunities
  • Assistance from Volunteers
    • Transportation
    • Prescription Pick Up
    • Technology Support and Workshops
  • and More!

The services and activities provided by villages are typically offered/provided for members only. The member-only events are brought together through volunteers and a small membership fee; which is significantly lower than the cost of a live-in retirement facility.

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The opinions voiced in this material are for informational purposes only and are not intended to provide specific advice to any individual.  Consult your legal, tax, and/or financial advisor to determine what is appropriate for your situation.

As a Registered Investment Advisor (RIA), Partnership Wealth Management is committed to providing our clients with financial planning and wealth management services to help them work towards their financial goals. At Partnership Wealth Management, we have a long history of working with the LGBT community. Among the many services we offer are financial planning and estate planning strategies for gay and lesbian couples. Financial planning is an important part of preparing for the future; contact us today to get started: www.partnershipwm.com.