Retirement woes continue to haunt Americans as the cost of living continues to increase. From paying for medical insurance to paying the bills, retirement continues to be a sticky subject in America. Another major concern for many citizens is finding an affordable retirement home to live in. While many retirement homes are priced to meet the needs of financially-strained retirees, others boast prices and amenities that are simply off the chart in terms of luxury and cost. With the wide range of prices and options available, one must argue the question: Do you have to pay a lot of money to be satisfied with your experience in a retirement home? Here is a look at two of the most expensive and three examples of affordable retirement homes in the United States for an in-depth comparison of whether you really need to pay a lot of money for a quality retirement experience.

SEE: The Complete Guide To Retirement Planning For 50-Somethings

Two of the Most Expensive Retirement Homes in the U.S.
Vi at La Jolla Village
A retirement home that certainly offers retirees a piece of the luxury is Vi at La Jolla Village in San Diego. Vi at La Jolla Village provides spacious floor plans available from one bedroom to three bedrooms. Some standard features of the homes include an emergency call system, expanded digital cable television, patio or balcony, and spacious closets. Additionally, Vi at La Jolla Village provides 24 hour valet parking services, weekly housekeeping, healthy dining options and Phillips Lifeline alert system in each unit. All this luxury has quite a price tag attached to it. Entrance fees start at $225,200 and max out at $753,700, while monthly costs can range from $2,720 to $4,440.

SEE: Finding A Retirement-Friendly State

Valencia Shores
Another amazing example of a retirement community that offers up luxury and relaxation with a steep price tag is Valencia Shores in Lake Worth, Fla. Some of the impressive amenities that Valencia Shores offers include a full-scale athletic club with fitness center, tennis courts, whirlpool spa, and full-service hair and nail salon. Valencia Shores has a broad selection of homes available, each massive in size and with all the modern amenities you could ask for. List prices start at $239,000 and max out at $625,000.

Three of the Most Affordable Retirement Homes in the U.S.
American House
American House in Dearborn Heights, Mich. is one great example of an affordable retirement home that is looking out for the cash-strapped retiree. American House offers a variety of floor plans up to two bedrooms, and offers a hearty helping of comfort with amenities such as an emergency response system, month-to-month leases and weekly housekeeping. American House offers many programs that help save tenants money on living costs, including programs for veterans and low-income seniors.

SEE: Will Your Retirement Income Be Enough?

Atria Kennebunk
Located in Kennebunk, Maine, Atria Kennebunk is an affordable retirement home with much to offer seniors. Amenities include a very active social community, beautiful interior and scenery, emergency call system in every unit, and concierge. Atria Kennebunk determines cost based on your income and has programs available to work with low-income retirees.

Meadowood
Meadowood in Worcester, Pa. is another affordable retirement home that offers tenants considerable bang for their buck. Housing options include spacious apartments or carriage homes and some of the attractive amenities include an expansive library, fitness room and pool. Best of all, Meadowood has a broad range of financial options available to tenants, making Meadowood an easy choice for any budget.


SEE: Will You Have To Delay Your Retirement?

The Bottom Line
While luxurious, high-end retirement communities can offer the best life has to offer due to high tenant costs, affordable options have much to offer the cash-strapped retiree as well. Retirement is not typically a time where citizens have little or no financial concerns. That is why it is important to select a retirement community that is within your budget. While many citizens would love to live in a luxurious retirement community, opting for an affordable retirement home is likely to be the more sensible option.

Related Articles
  1. Saving and Spending

    Social Security: Navigating it with Your Clients

    Many people don’t realize how confusing Social Security can be until they're face to face with taking it. Here's how to talk to clients about it.
  2. Your Clients

    How to Construct an Annual Review for Clients

    One of the best things that advisors can provide to clients is an annual review of their financial situation. Here are some guidelines.
  3. Retirement

    Is it Safe for Retirees to Invest in Technology?

    Tech stocks are volatile creatures, but there are ways even risk-adverse retirees can reap rewards from them. Here are some strategies.
  4. Retirement

    Roth IRAs Tutorial

    This comprehensive guide goes through what a Roth IRA is and how to set one up, contribute to it and withdraw from it.
  5. Retirement

    Retirees: How to Survive When Interest Rates Drop

    Low interest rates are a portfolio killer if you're living off of investment income. Some strategies for dealing.
  6. Insurance

    Beware the Sneaky Math of Universal Life Insurance

    Universal life insurance's cash value can be a cash cow – if there's any left. Read on to see if it'll work as an income source after you've retired.
  7. Budgeting

    Is Living in Europe Cheaper than in America?

    Learn how living in Europe has financial advantages over living in the United States. Discover the benefits to take advantage of when it makes financial sense.
  8. Retirement

    Shopping the New Retirement Products

    There are more options than ever for retirement portfolios these days. Choosing the right product comes down to your needs, time and management style.
  9. Retirement

    Longevity Insurance: Can You Afford Life into Your 90s?

    A man who reaches retirement age is likely to live until he’s 84. A woman is likely to make it to 86. But what if you live longer?
  10. Mutual Funds & ETFs

    Top 3 PIMCO Funds for Retirement Diversification in 2016

    Explore analyses of the top three PIMCO funds for 2016 and learn how these funds can be used to create a diversified retirement portfolio.
RELATED FAQS
  1. Am I losing the right to collect spousal Social Security benefits before I collect ...

    The short answer is yes, if you haven't reached age 62 by December 31, 2015. The Bipartisan Budget Act of 2015 disrupted ... Read Full Answer >>
  2. What is the maximum I can receive from my Social Security retirement benefit?

    The maximum monthly Social Security benefit payment for a person retiring in 2016 at full retirement age is $2,639. However, ... Read Full Answer >>
  3. Are target-date retirement funds good investments?

    The main benefit of target-date retirement funds is convenience. If you really don't want to bother with your retirement ... Read Full Answer >>
  4. Where else can I save for retirement after I max out my Roth IRA?

    With uncertainty about the sustainability of Social Security benefits for future retirees, a lot of responsibility for saving ... Read Full Answer >>
  5. Will quitting your job hurt your 401(k)?

    Quitting a job doesn't have to impact a 401(k) balance negatively. In fact, it may actually help in the long run. When leaving ... Read Full Answer >>
  6. How does my spousal Social Security benefit work?

    If you have never worked or paid Social Security taxes, you will not be eligible to receive Social Security retirement benefits ... Read Full Answer >>
Trading Center