Considering A Move To A Retirement Community?

(Photo: Mikhail Nilov/Pexels)

A shout out to one of our very astute clients for recommending a great consumer guide for people who may be considering a move to a retirement community.

It’s called the Consumer’s Guide to Continuing Care Retirement Communities, and it’s issued by the National Continuing Care Residents Association. That’s a non-profit organization of residents and prospective residents of Continuing Care Retirement Communities (CCRCs), meaning it’s put together by the folks who actually live in CCRCs or are thinking of moving into them.

The guide can fill you in on the different types of care available in a CCRC, ranging from independent to assisted living and nursing care, as well as the typical contracts, financial arrangements, and considerations for evaluating and selecting a community right for you.

If you’re not already familiar with the CCRC concept, here’s a definition from the website of a leading national senior living community provider. It’s a simple definition, but I believe one that captures the essence of a CCRC particularly well:

“Known as a continuing care retirement community, a CCRC is a place where you have access to multiple levels of care on a single campus. The primary benefit of this kind of community is called a continuum of care, and it’s designed so you can likely stay in the same place with the same people even if your health changes down the road.”

The guide as well as other resources are available on the National Continuing Care Residents Association (NaCCRA) website.

Looking for a CCRC? You may want to check out the site’s CCRC finder tool.

The Takeaway: There are so many retirement living options available, and our clients, over the years, have experienced all of them. Some people want to stay in their own home and age in place. Others opt for active adult communities, and still others select CCRCs and the range of care alternatives available to them. It’s a very individual choice and there is no “right” answer. We would be happy to help clients and their families explore the options available to them and start a dialogue. Just let us know!

Thank you, Dave, for sharing this great tip with our readers!

About Mari Adam

Mari Adam, Certified Financial Planner™ has been helping individuals and families chart their financial futures for over twenty-five years. Have a question about your financial situation? Ask Mari!

, , , , , , ,

No comments yet.

Leave a Reply