How to Use a Retirement Cost of Living Calculator

Planning for senior living involves more than just choosing the right community—it’s about making sure it fits your budget. A retirement cost of living calculator helps compare expenses, anticipate future needs, and explore funding options to make the transition as seamless as possible. At Clark, we know that cost is a key factor in deciding when and where to move. That’s why we offer transparent pricing, flexible financial plans, and resources to help you navigate the process.

What a retirement cost of living calculator reveals

Many seniors believe that life at home is the most affordable option. However, when you actually break down the real living cost of staying put, the numbers often tell a different story.

A comparison calculator factors in:

• Mortgage or rent payments vs. all-inclusive pricing
• Property taxes, insurance, and home maintenance vs. a maintenance-free lifestyle
• Rising utility costs vs. included utilities
• Groceries and dining vs. on-site meals 
• Gym memberships and social activities vs. a vibrant community with fitness and well-being programs
• Home health care services vs. on-site support 

As you can see, there is merit to moving to an independent living community like Clark, where you can expect a fixed price and avoid any unexpected fluctuations that come with home ownership.

How do people pay for senior living?

Many residents at Clark use a combination of financial resources to cover costs, including:

• Retirement savings & Social Security
• Pensions or annuities 
• Long-term care insurance
• Proceeds from selling a home
• VA benefits & other assistance programs
• Financial support from family members

Part of the problem for seniors looking to right-size their lives is that they don’t think they have choices, especially when it comes to money. Because it is a touchy subject for some, sticking with the status quo feels like the only choice. This couldn’t be further from the truth.

Find out if Clark fits your budget in just 4 minutes

We know that talking about finances can feel overwhelming, so we’ve made it simple. Instead of spending hours researching on the internet and doing a cost analysis based on your own situation, we have created a handy quiz that will help you figure out if an independent living community is right for you.

Take the “Can I Afford Senior Living” Quiz Now