Tag: adult children

Finding the right senior living community starts long before someone schedules a tour. On an episode of Varsity’s Roundtable Talk, Derek talked with Brad Breeding, founder of MyLifeSite, author of Your Best Path Forward and a nationally recognized expert on helping older adults and their families navigate senior living decisions.

Brad shared why so many families struggle to compare community options, the questions people should ask themselves before beginning a search, and how financial concerns often go far beyond monthly costs. He also discussed the growing influence of adult children, why community culture matters more than flashy amenities and the trends he believes will shape the future of senior living.

Check out the full episode here.

WHAT MAKES NAVIGATING SENIOR LIVING SO CONFUSING FOR FAMILIES?

There are so many different options, but from the outside many of them look the same. Independent living, assisted living and life plan communities can differ significantly in services, pricing and long-term value. Then you add the industry’s terminology, much of which is used differently from one community to another. It’s a lot for families to sort through, especially when they’re making a decision they’ve never faced before.

WHAT ARE THE BIGGEST FEARS PEOPLE HAVE WHEN CONSIDERING SENIOR LIVING?

Cost is one of the biggest concerns, especially what the decision might mean for someone’s estate. Beyond that, many people worry they’re making their final move. They wonder if they’ll like the community or regret the decision after selling their home and leaving familiar surroundings. That’s why spending time in a community and getting to know the people before moving is so valuable.

WHAT ROLE DO ADULT CHILDREN PLAY IN THE SENIOR LIVING DECISION?

Many adult children have firsthand experience with caregiving and understand how emotionally and physically demanding it can be. The question isn’t simply, “How do I care for my parents?” It’s, “What’s the best way to care for them?” Sometimes that’s providing support yourself. Other times it’s helping them find a community that can meet their needs while allowing you to focus on being a son or daughter.

WHERE SHOULD SOMEONE BEGIN WHEN THEY START LOOKING AT SENIOR LIVING?

Start by asking what’s most important to you and why. What concerns do you have? What gives you peace of mind? Once you’ve answered those questions, you can evaluate the different options available. The goal isn’t simply to compare communities. It’s to find the option that best aligns with your priorities and future plans.

WHAT ARE SOME OF THE BIGGEST MISCONCEPTIONS ABOUT THE COST OF SENIOR LIVING?

Many people assume senior living is simply expensive, but it’s more complicated than that. Different communities include different services and use different pricing models. Especially with life plan communities, it’s important to look beyond the entrance fee and consider the lifetime value, future care costs and overall financial picture.

WHAT DO TODAY’S OLDER ADULTS REALLY WANT FROM SENIOR LIVING?

People often assume they’re looking for luxury amenities, but that’s rarely what I hear. They want a place that’s well managed, where they feel respected, connected and comfortable. They want flexibility, meaningful relationships and confidence in the organization. When I ask residents what they like most about where they live, the answer I hear most often is simple: the people.

QUOTES

“We’re trying to reduce confusion among consumers, and we’re trying to help reduce financial anxiety around this decision.” (Brad)

“If people are confused about senior living or have concerns about affordability, they’re not going to move forward. Those are the things that delay the decision process.” (Brad)

“People don’t often understand that two communities may look very similar but actually work very differently and may be priced very differently.” (Brad)

“It’s so important to think not just about today, but about the future. Not just what it costs today, but what it could cost over your lifetime.” (Brad)

“Moving to a life plan community used to be celebrated as the last move you’d ever have to make. Over the years, I think that almost became a negative because it felt like such a final decision.” (Brad)

“It’s more important than ever to spend time in a community before you move, getting to know residents and making sure it feels like the right fit.” (Brad)

“Caring for a loved one is a privilege, but you also can’t deny how incredibly difficult the caregiving role can be emotionally, physically and even financially.” (Brad)

“What’s really important to me in my life right now, and why? That’s the real starting point.” (Brad)

“Nobody just wakes up and says, ‘I’m going to go check out senior living today.’ Something has caused them to start looking, and that’s what you have to understand.” (Brad)

“We feel the sales counselor should be the best resource someone has in this decision—not just someone representing a community, but someone helping them find what’s truly best for them.” (Brad)

“People just want a place where they feel comfortable, can be themselves, live with people they like, get up every morning, get involved with something and just be happy.” (Brad)

“When I ask residents what they like most about living here, the most popular answer I get is, ‘The people.'” (Brad)

NOTES

Brad Breeding is founder of myLifeSite, author of the newly released Your Best Path Forward and a nationally recognized speaker on senior living decision-making. A former financial advisor, he has spent more than 15 years helping older adults and their families better understand senior living options, financial planning and the aging journey.

Read an excerpt of Your Best Path Forward on the Varsity website.

myLifeSite is a consumer education and financial decision-support platform focused on helping families navigate senior living with greater confidence. The company also partners with senior living organizations, providing educational content and financial planning tools that help prospects better understand their options while supporting community sales and marketing teams.

Before founding myLifeSite in 2011, Brad worked as a financial advisor, where he saw firsthand how difficult senior living decisions could be for families. His newest book, Your Best Path Forward, is the third edition of his longtime consumer guide and explores the many paths available for retirement living. 

myLifeSite’s financial tools, including MoneyGauge, are now used by hundreds of senior living communities to help prospects evaluate affordability, compare scenarios and reduce financial uncertainty.

Brad believes one of the biggest barriers to senior living is confusion. Consumers often struggle to understand the differences between community types, pricing models and industry terminology, making it difficult to compare options.

Many people focus only on what they need today, but Brad encourages families to think about what they may need years from now. The best decision balances current lifestyle with future health, care needs and long-term financial considerations.

Cost concerns are about more than affordability. Many prospective residents worry about how a move could affect their estate, inheritance or long-term financial security, making education and financial transparency essential.

Adult children play an important role in the decision process, but Brad believes planning ahead can reduce caregiving burdens. He encourages families to focus on what provides the best care and quality of life, rather than feeling obligated to provide every aspect of care themselves.

Brad says the search process should begin with self-reflection. Before comparing communities, older adults should identify what’s most important to them, what concerns they have and what peace of mind looks like in the next stage of life.

Rather than acting only as salespeople, Brad believes community sales counselors should become trusted guides who educate prospects, answer difficult financial questions and help people determine which option is truly best for them.

While amenities matter, Brad believes relationships matter more. Residents consistently tell him the people are what they value most, making community culture, resident engagement and a strong sense of belonging more important than luxury features.

Looking ahead, Brad sees wellness and technology becoming even more central to senior living. He expects communities to rely more on partnerships, concierge-style services and holistic wellness programming that deliver greater value while helping residents live healthier, more connected lives.