DENVER -- Many aging Americans who live on their own still need extra help with day-to-day tasks and activities. But shrinking investment portfolios and declining real estate values mean seniors have less money than ever to cover the costs of retirement.

The average cost for in-home, non-medical care is about $19 an hour. At four hours a day, five days a week, that adds up to about $19,000 a year.

The average cost for an assisted living facility, which provides meals, is around $36,000 a year and a private room at a nursing home costs an average of $76,000 a year.

Professional hourly caregivers can provide a host of non-medical services, often at a fraction of the cost of full-service residential care. Lorin Chevalier said his staff at Senior Helpers is available for as much or as little time as the family needs. Chevalier said, "We have the flexibility to assist, for time periods as short as 15 minutes a day, to several hours, all the way up to 24 hours a day, seven days a week."

Sandra Neil is a flight attendant whose 79-year old mother is in the very early stages of dementia and Alzheimer’s. Neil initially looked into selling her mom's house, so she could move her into a full time care facility. She said, “That wasn't really feasible because wherever I put her, it was going to cost a lot of money. There was no way I'd be able to do assisted living or a nursing home."

So, she did a lot of research and settled on hourly in-home care for her mom. Care providers come to her mother's Northglenn home to help with meals, outings and to remind her to take her medication.

Neil explained, "I can pick how many hours and days of week; it works for me, and fits my budget. I feel like she's in good hands when I'm gone."

Neil started using the part-time service six months ago and says while her mom likes it better on some days than others, it's been a blessing to their family in tough economic times.

"It's a huge, huge relief,” Neil stated. "It takes a lot off my shoulders."