Retirement Residences - What you NEED to know

We hosted a webinar, “Retirement Residences - What You NEED to Know” with Sonia Ojha from Amica Erin Mills last Thursday evening.

There were over 15 questions in the Q&A and we have already received several kind comments that the session was insightful and valuable.

While there were lots of useful insights, one stuck out the most.

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The Cost of Living - A Comparison

When we polled our webinar audience, most voters assumed that living in a retirement residence would be MUCH more expensive than living at Amica Erin Mills. However, the chart below shows two important facts:

1) People underestimate the cost of living in their house because of the property tax, maintenance, utilites and food. This is true even if you don’t have a mortgage or rent bill.

2) The cost of additional health care at home can add up quickly. See the chart below.

Obviously, everyone’s situation is different. Including yours.

We encourage you to fill in the left side of the chart for yourself to have a clear understanding of your true housing and medical costs.

You can find this chart on page 8 of the webinar presentation document which is located here.

You can also watch the discussion that Anuja and Sonia have about this topic at the 28 minute and 30 second mark of the video recording on YouTube here.

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Here are some other helpful links related to the webinar.

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1) Sonia’s Presentation slides

A link to the slides from Sonia. Click here to download.

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2) Tax Credits for Seniors

Here's a link to the tax credits available for seniors from government both federally and provincially. Click here to view.

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3) How To Evaluate Retirement Residences

Sonia was kind enough to provide us an online booklet that shows the different features to consider, the costs and the questions you should ask as you evaluate different retirement options. Click here to view.

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4) FREE lunch with at Amica

Sonia has generously offered a free lunch at Amica Erin Mills, meticulously prepared by a certified Red Seal Chef. While you’re there, you’re welcome to take a tour.

To book your free lunch, get in touch with Sonia at sonia.ojha@amica.ca or (905) 816-9163.

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Let’s Talk About What’s Possible

If a retirement residence is a possible place for you to call home, we have relationships with many of them in the Peel and Halton area and would be happy to co-ordinate a tour or answer questions.

📞 Call or text anytime at 416-659-6011. Or send an email to info@seamlessrightsizing.ca

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