With rising costs due to inflation many are concerned with finances. Seniors are even more likely to worry about rising costs. Saving for retirement and closely managing your expenses are wise choices, but how do you ensure your money goes further when costs are at a 40-year high?

Make smart investments

Experts recommend adjusting your budget, cutting back on unnecessary spending and making changes to your investment strategy. Small changes can make a big difference. Consider driving less to save on gas, postponing a vacation and making lifestyle changes to stretch your retirement dollar.

Does your current home need costly repairs or maintenance? Are food, gas and health care costs becoming too much to manage? You may also be thinking about the costs associated with updating your home to make it more accessible. As you age, it may be more challenging to get up and down those flights of stairs or get in and out of your existing tub or shower.

HomeAdvisor reports that you could expect to spend $10,000 – $15,000 on average to update a bathroom and up to $50,000 to update a large master bathroom. Now could be a great time to consider the value that senior living offers.

Consider the value of senior living

If the costs of maintaining a home, consider an assisted living facility. With stylish assisted living and memory care apartments, you pay one monthly rate and your living expenses are included. From meals to housekeeping, activities and even scheduled transportation, it is all taken care of. Most senior living and memory care communities may include:

• Passionate care staff to cater to your needs.


• Chef-quality dining.


• Housekeeping and personal laundry service.


• Clubs and activities to fill your calendar.


• Landscaped grounds and inviting common areas.


• Community events and excursions.


• Amenities that make life feel like a permanent vacation.

Fighting rising costs does not have to be daunting for seniors. Making wise investments in your care and lifestyle can have huge benefits now and in the future.