MoneyGauge: An online tool to determine if we are a good financial fit.


senior couple looking into financial stability

The decision to move to a continuing care retirement community is a big one. It involves answering a number of questions, including: Is this community a good fit? What services and amenities are available? What kind of health care services are available? Does the community allow pets?

Of even more importance to most people considering the move to a CCRC is the issue of cost. Can I afford to live there? Determining a community’s affordability also includes answering a number of very important questions: What is my home worth? Will I be able to sell my home? Do I have sufficient assets to pay the entrance fee? Do I have sufficient monthly income to support the monthly fees?

If you are interested in exploring The Chesapeake as your next home, we are pleased to provide a simple online evaluation tool, called MoneyGauge, to help you determine if our community is a good financial fit for you. The tool does not require personal information, and the questions are general. For instance, what is your approximate retirement savings within a range of $50,000?

You’ll also receive your results immediately, along with a preliminary look at what kind of housing, if any, you can afford. Keep in mind: The tool, developed by myLifeSite, is a guide, not a guarantee of financial approval.

Quick and Easy

The Chesapeake is one of two LifeSpire of Virginia communities utilizing the calculator on our website. The other is The Glebe in Daleville.

Brad Breeding, President and Founder of myLifeSite™, said the company found that many potential residents wanted to know early in their research if their finances would align with the costs of a life plan community. myLifeSite developed the tool based on that need.

“It doesn’t make sense to invest a lot of time and effort into other aspects of the decision to ultimately find out that it isn’t the best fit financially,” Breeding said. “The benefit of using MoneyGauge is that in about two minutes someone can get a preliminary assessment to help gauge affordability, and they can do this on their own time right there on the retirement community’s website.” 

Liz Gee, The Chesapeake’s Marketing Director, is excited to offer this tool to prospective residents.

“This is a great tool to help potential residents decide if The Chesapeake is right for them,” Gee said. “Plus, it’s quick and easy. We think it will really help the decision-making process.”

To learn more about life at The Chesapeake, visit our website or call us at (757) 913-0564.

The Chesapeake is a LifeSpire of Virginia community based in Newport News, Virginia.  LifeSpire of Virginia operates four continuing care retirement communities and one membership-based at-home program in Virginia: The Chesapeake in Newport News, The Culpeper in Culpeper, The Glebe in Daleville and Lakewood and Lakewood at Home in Richmond.