Are We Aging Gracefully?
It is no secret that Canada’s population is aging.
In fact, Canada has one of the highest average life expectancies for men and women in the world.
Many Canadians are living past 80 and there are 10,795 Centenarians (older than 100 years) living in Canada today.
Ontario and Quebec have 3,762 and 2,559 Centenarians respectively.
Eighty (80) percent of the Centenarians in Canada are women. Sorry guys.
Seniors 65 and over outnumbered children under the age of 14 for the first time in 2016.
As there were 5.9 million Canadian Seniors and 5.8 million Canadians under the age of 14.
It is predicted that by 2035, a quarter of Canada’s population will be 65 years or older.
This cohort of baby boomers is expected to reach 9.5 million and they are all planning on moving into retirement.
The housing needs for Seniors in retirement are varied and sometimes complex but there are a number of options.
Many Seniors plan to stay at home or “age in place”.
In 2018, Statistics Canada reported that 92.1% of Canadians over 65 are living in private dwellings.
Seniors that are healthy and do not need assistance with daily activities will find the active lifestyle and amenities of an independent retirement living community more attractive.
For Seniors who do need assistance with daily activities but do not require skilled care, Assisted Living communities are an option and they are available in all shapes and sizes from apartment buildings, sprawling complexes or intimate communities catering to a small number of residents.
Residential care homes offer both short-term and long-term care and are traditional private homes that have been adapted to provide assisted care to a smaller group of residents.
Seniors with dementia or Alzheimer’s require special memory care and this is provided in a secure area of an assisted living community, nursing home or specialized housing.
Prices for dementia care run from $7,000 to $10,000 per month.
Making this type of care the most expensive.
Government does offer a number of subsidized options for Seniors including: supportive housing, long-term care homes, adult day care programs, home care, and respite care (short-term stay).
The cost of housing depends on the level of service and care you need.
It is pretty simple the more services and care, the more you should expect to pay.
Senior housing costs and programs do vary by province and territory.
Are we aging gracefully? It truly depends on your retirement plan.
Do you have one?
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