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GOBankingRates’ editorial team is committed to bringing you unbiased reviews and information. We use data-driven methodologies to evaluate financial products and services – our reviews and ratings are not influenced by advertisers. You can read more about our editorial guidelines<\/a> and our products and services review methodology<\/a>.<\/p>\n 20 Years Trusted by As you age, it\u2019s smart to have a plan. Not just for your finances, but for how and where you want to live<\/a>. One option is 55+ communities, which are neighborhoods designed for senior living that offer assisted living, memory care, shared amenities, social events and more.<\/p>\n While there are downsides, such as high fees and limited home price appreciation, there are advantages, as well.\u00a0<\/p>\n \u201cThey tend to be quiet, safe [and] well-run, with an excellent sense of community. Studies have shown that people who live in 55+ communities have a slightly longer life expectancy than those who don\u2019t,\u201d Sebastian Frey, seasoned living strategist at Team Sixty Plus<\/a>, wrote in an email. \u201cIn addition, these communities are often designed to reduce social isolation, which is a major risk factor for depression and illness in older adults.\u201d<\/p>\n<\/p>\n Thinking of retiring in a 55+ community<\/a>? Here are three key signs you should look out for.<\/p>\n You Need To Downsize<\/p>\n \u201cOne of the first signs could be to downsize your home<\/a>. You could look to a smaller residence or apartment, but many people over the age of 55 start looking at retirement communities,\u201d Chad Gammon, certified financial planner and owner at Custom Fit Financial<\/a>, wrote in an email.<\/p>\n![\"\"](\"https:\/\/cdn.gobankingrates.com\/wp-content\/uploads\/2023\/11\/icon-20.svg?webp=1&quality=75\"){kind=icon}
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