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Financial Planning for Senior Living in Canada

Resources on retirement living finances and affordability

Are you ready to embark on tours of seniors’ communities—or perhaps you’re already comparison shopping between your top choices for your next home—but still feel uncertain that you can afford the monthly rent?

We understand that affordability is a personal matter and can look very different to each of us. That’s why we’ve compiled a collection of financial resources related to retirement living that can help you determine if the lifestyle option will not only work for your unique needs, but your budget too.

We’ve partnered with Financial Educator Kelley Keehn to bring you expert advice on a range of financial topics we know are important to you and your family members, including:

  • Financial strategies that can help you afford the monthly rent at a retirement residence
  • The cost of retirement living in Canada and factors that influence the price
  • The cost of retirement living versus private homecare
  • Why aging at home isn’t “free” and the expenses that will disappear once you move into a retirement home
  • How to switch to a “spending” after years of saving so you can live well in your later years
  • The overall value of senior living and how it can simplify your expenses and lifestyle
  • Shopping for the right financial advice

Through cost calculators, videos, and informative articles written by financial experts, you’ll find some of these common questions answered about senior living affordability:

  • How do current residents afford the monthly rent in a seniors’ community?
  • How can I invest the proceeds of the sale of a home to offset the monthly rent at a seniors’ home?
  • How can I afford retirement living while also preserving an inheritance for my adult children?
  • How far will my money go in a retirement residence? Will I run out of money?
  • How do I broach a financial conversation with a parent or loved one?
  • How do I support my senior loved one with their finances so they can achieve the level of support they need?
  • Who can I speak to for advice on my financial situation?

Ready to get the financial information you need so you can make an informed decision on next steps for yourself or a loved one? Browse some of our most popular resources today!