The Cottages Blog

8 Crowdfunding Sites You Can Use to Help Pay for Senior Living

Posted by Dawn Owens on Dec 22, 2016 9:00:00 AM

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Finding a way to cover the cost of assisted living can sometimes be one of the biggest hurdles that seniors have to overcome. One way that seniors nowadays can put some extra money toward paying for assisted living is through crowdfunding. Crowdfunding is when you earn money by asking for funds from a large group of people. It is usually done through a website campaign.

While paying for most of your senior care cost through crowdfunding is not a realistic expectation, crowdfunding is a great way to get some of the money that you need and start to feel some peace of mind. If you do decide to crowdfund for your senior care, remember that it can only be used to pay for private senior living or long term care costs. Using it as income could raise a senior’s income over what it needs to be in order to qualify for Veteran’s benefits or Medicaid benefits.

The following are several websites that can help you start a crowdfunding campaign today:

  1. Fundly
  2. FundRazr
  3. GiveForward
  4. GoFundMe
  5. GoGetFunding
  6. IndieGogo
  7. Rally.org
  8. YouCaring

When you are searching for the right type of crowdfunding, there are several things that you should consider. First, estimate the total cost of the particular senior care that you need. Next, figure out how much of your funds you want to try to get through crowdfunding. Start small. Don’t try to get more than 10-25 percent of your funds in the beginning.

Remember not to puf all of your faith in crowdfunding. Look at it as a fun way to make some of the money that you need. If your campaign takes off, fantastic! If it doesn’t work out as well as you had hoped, there are many other ways that you can pay for assisted living.

 

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Dawn Owens

Written by: Dawn Owens

Dawn has been part of the Cottage family for over 10 years. She comes from a strong background in mental health care, with a certification in crisis intervention. Dawn has two daughters, Alika and Ava. She enjoys walking, scrapbooking, and playing softball.