#2 Healthcare and Housing Risks—Change in Housing Needs
Unfortunately, some retirees may need to change from living on their own to other forms of housing, such as assisted living or independent living in a retirement community, which combines some assistance with housing.
These residences can be really expensive, and the most appropriate form of housing for an individual in a given situation may not be available in the chosen geographic area or may have a long wait for entrance.
Also, requiring day-to-day assistance or healthcare increases dramatically with age. The worst part? It’s hard to predict when you’ll depend on someone else as these changes often occur suddenly.