A new trend is also emerging among retirement communities called continuing care. Designed to accommodate your changing needs as you get older, they offer a mix of independent living, assisted living and ultimately, nursing care when and if you need it. While initial and monthly fees can be expensive, a continuing care community can offer ammenities you can utilize now, and peace of mind about your future.

Regardless of what your care needs may be, giving up the independence that comes with living on your own can be one of the most difficult decisions you – or your loved ones – may face. It's important to learn about your options at the earliest point possible. Visit several facilities to be able to compare the level of care and the service provided. Talk to staff, residents and their family members to get first-hand reviews.

While no one can predict the future, part of your retirement planning strategy should be to plan ahead and be prepared for the care you may need as you get older.