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How Far Does Your Money Go in Lakewood?

Posted by Michelle Cemental on Oct 2, 2018 2:04:00 PM

Senior couple reviewing finances

When budgeting as a senior, it's important to know how much different living arrangements can cost. Finding a location and accommodation that fit your budget is not necessarily easy, but it is vital to ensuring that your money lasts long enough to cover the care you may need. Knowing what you will be paying for senior care in Lakewood will help you make the most of every single doll and stretch it to meet your needs the best.

Basics About Lakewood, CO

Lakewood is the largest municipality in Jefferson County with a population of about 142,000 residents. Lakewood was originated back in 1889 by Charles Welch and it was a 13-block area along Colfax Avenue west of Denver in Jefferson County. The town today has expanded to a much larger and thriving metropolis.The cost of living is about 25% higher than the rest of the US, meaning that budgeting as a senior is even more important.

Assisted Living Costs

If you are looking for an assisted living accommodation in the Lakewood area, you can expect to pay an average of about $2,850 per month. Depending on what you are looking for when it comes to accommodations, amenities, and location, you can expect to pay in the range of $2,080 and $5,100 per month.

Nursing Home Costs

If you are looking for a nursing facility, you pay a lot more for the accommodations and around-the-clock care. If you are looking for a semi-private room you can expect to pay about $5,700 per month or about $190 per day. If you are looking for a private room, you can expect to pay about $6,450 per month or about $215 each day.

In-Home Care Costs

If you are looking for something a more affordable option, then you might consider a home health aide or in-home caregiver. In-home care can work with you in the comfort of your own home, so you can stick to your own schedule and get only the care you need.

Considering that the average home health aide in Lakewood makes about $19 per hour you could hire a part-time health aide for about $380 per week or about $1,520 per month, which is a fraction of what long-term nursing care would cost.

Learn more on affording long-term care, what your care options are, and how to navigate the road toward excellent care with your family. Get your free comprehensive guide to long-term care.

Quick and easy guide to long-term care - Download Now

Michelle Cemental Blog Author

Topics: Finances, Long-Term Care

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