5 Words for Your Retirement Vocabulary

You are probably familiar with the terms associated with saving for retirement — 401k, IRA, etc. Senior Living Communities also have their own terms when it comes to understanding finances and lifestyle options. For instance, what exactly is a senior living community? What is the difference between Assisted Living and Memory Care? Read below for our top five words you and your loved ones should understand before reviewing senior living care options.

1. Senior Living Community: A residential community designed for older adults that usually offers several levels of care, social opportunities, and extra services and amenities.

2. Assisted Living: Senior Living Communities often offer assisted living for seniors who need extra help with daily tasks such as taking medicine, dressing, mobility, etc.

3. Memory Care: Residential care that offers 24/7 professional support to seniors dealing with mild to severe memory loss including Alzheimer’s and Dementia.

4. Resident Life Coordinator: A staff member at a community who is in charge of planning activities and events to enrich the lives of their residents.

5. Deposit Fees/Monthly Fees: Usually there is an upfront cost or deposit to move into a Senior Living community, in addition to monthly rent. Most communities also have “Second Occupant Fees” that make it more affordable for spouses to live together.

Twin Creeks is an Assisted Living and Memory Care community opening soon in Riverview. We offer both Assisted Living and Memory Care at our beautiful, scenic campus. Our Resident Life Coordinator makes every day fun and enriched with interesting events and outings. Learn more about our community here on our site or call us at 813-358-8998 to see if Twin Creeks is the right fit for your loved one.