When you hit adulthood, there’s something fulfilling about that first home—be it an apartment or house—that you don’t have to share with anyone else. No annoying roommates to split the rent with and especially no fights over food in the refrigerator and dishes in the sink.

But, for many seniors living on a fixed income, this may actually be the time when you most need a roommate.

Here are some things to consider about choosing a roommate situation:

• The biggest reason to consider sharing a house or apartment is basic economics. If you have a mortgage that costs $1000 a month and utilities that run $500 a month, then your roommate can cut that figure in half and save you about $750 a month in living expenses. Even if your house is already paid for, you can charge a nominal rent each month and have some extra money to spend in these leaner years.
• Another big reason why you should consider getting a roommate is the fact that you are more secure. Seniors living alone are often huge targets for criminals, be they burglars or con artists. If you have someone else living in the home, these criminals may not be as likely to see you as an easy target and they will simply move on to the next person. If you should have a medical emergency, such as a fall or a prolonged illness, you have someone else there who can call for assistance and get you the care that you need.
• Finally, seniors may wish to choose a roommate for simple companionship. Too often, we have heard anecdotal evidence of seniors who die weeks or months after the loss of a spouse. Not having someone around to talk to and interact with can negatively impact your mental and physical health. Having a roommate can help combat this.

If you are a senior citizen living alone on a fixed income, then it would be a good idea to at least consider having a roommate join you in your home. By doing this, you are helping to secure yourself financially and physically.