This blog was originally published in 2021. It was updated in June 2022.
One of the top questions individuals looking to make a move to a life plan community ask themselves is, "Can I afford it?”
From an outside perspective, it can seem like quite a simple question, but for those who are fully engrossed in researching their options, this question can become much more complicated.
Planning for Your Future
In all senses of the word, those who are interested in moving to a life plan community, like Otterbein Granville, are making a plan for the future.
That plan consists of detailed lists, strategies, and desired outcomes, for the objective of living in a life plan community. A big piece of that plan is being certain that you’re financially secure to see this plan to fruition.
MoneyGauge Calculator at Otterbein Granville
At Otterbein Granville, a resource is available called the MoneyGauge financial calculator, which can give preliminary results of one’s financial ability to move to the community, all in a matter of about two minutes.
In seven simple and straightforward questions ― like “What is the approximate household total of savings and retirement accounts?” ― the tool will provide you immediate feedback based on your responses.
It’s accurately called MoneyGauge, because it “gauges” what floor plan may be your best fit in the form of a speedometer graphic with green, yellow, and red colors to indicate one is very likely, likely, or not likely to financially qualify. This leaves some of the guesswork out and allows you to continue ahead on your intentions to secure a plan for your future.
This tool was made possible in collaboration with Brad Breeding, co-founder of MyLifesite, whose business surrounds empowering people with his vast knowledge and research surrounding senior living. This website is chock-full of blogs and resources incorporating his financial planning background with a knack for traversing the wide industry of senior living, more specifically life plan communities. He and Otterbein Granville understand the potential benefits that life plan communities provide, but also the desire that people have to know that they’re making a sound financial decision.
“By utilizing the MoneyGauge Calculator, our prospective residents get a quick, easy glance at how our financial qualification works, and for many, they receive the peace of mind that they can afford a life plan community and have a variety of floor plan options available to them,” said Derik Kroeze, director of marketing at Otterbein Granville.
How the MoneyGauge Calculator Can Benefit You
The financial calculator has already given many people the opportunity to further investigate their ability to make a move to the community, in a no-hassle and non-obligatory way. If you’re curious to learn more, please check out the financial calculator here.