When the thought of retirement enters the mind, you might not be prepared to think about the decrease in income or what you will do with all of the free time. One man wanted to retire, and he came up with an idea that could work for other people who are in the same position.
He started looking at his savings and all of the funds that he had at about the age of 45. This might seem a little early to think about retirement, but the plan that he developed could work. He decided not to go to a nursing home if at all possible. His place of retirement would be a Holiday Inn or a similar hotel.
Most nursing homes are about $188 a day. That’s a couple thousand dollars a month. If you apply senior citizen discounts and extended stay discounts, you can stay at a hotel for less than $50 a night. If you use the same $188 a day from the nursing home price, that will give you about $130 to use for food at almost any restaurant, fun and shopping each day.
There will also be enough money left for room service, laundry services and tips. Most hotels have a swimming pool, fitness center, and a lobby with chairs and a television. There won’t be any utility bills to pay as everything is included, and there’s housekeeping services offered.
Free toiletries are available, so you won’t have to spend money on that. The city bus is there for transportation, and there will likely be people to talk to all the time. If anything breaks, all you have to do is let the front desk know. This is a plan that really could work for senior citizens who are able to stay alone.