Today there are over 47 million Americans age 65 or over, and this number is projected to grow to 78 million by 2035. According to a study by AARP, 90 percent of people age 65 and over would prefer to stay in their own homes as they get older — and not go to a nursing home or assisted living facility. Aging in place is defined by the U.S. Centers for Disease Control and Prevention (CDC) as “the ability to live in one’s own home and community safely, independently and comfortably, regardless of age, income or ability level.”
There are many potential benefits to aging in place. Staying in one’s home can be less expensive than moving to an assisted-living community. Upfront moving costs can be pricey, and the entrance fees and monthly payments for room and board in independent and assisted-living facilities can be cost prohibitive. More important benefits can be the psychological advantages of staying close to one’s friends, medical professionals, and faith community, all vital components of healthy aging. There are many considerations, from physical to financial, involved in a decision to remain at home.