Affording Senior Living in Canada: A Comprehensive Guide

Have you or a loved one determined that senior living will be a beneficial next chapter in your life, but you’re unsure if you can afford the lifestyle in a retirement residence?

Many people immediately assume as soon as they learn the monthly rental fee at a retirement community near them that they can’t afford it. We’ve heard it all—“Retirement living is too expensive!” “It’s only for millionaires!” and our favourite, “Do I look like I’m made of money?” And we understand: it’s common to get sticker shock and think, “That’s way more than I’m paying in my current home.”

But it's important to collect all the facts and weigh all the factors before disregarding senior living as too steep for your or a loved one’s lifestyle, especially if you believe the social life, sense of security, or care support can improve your or a loved one’s present situation and quality of life.