Blog – List

When you were much younger your parents nervously sat down with you and had “the talk.” Now it is time for you to have “the talk” with your parents. Of course, I’m referring to a different kind of talk but for many it is no less awkward to initiate.

Continuing Care Retirement Communities are beginning to recognize the importance of educating financial advisors on the benefits of their community and helping them to better understand the contract details.

Yet another article from a major source points to the growing interest in entry fee tax deductions for new residents of continuing care retirement communities, or CCRCs, which have become even more popular in light of recent changes to the AGI threshold for healthcare expense deductions.

When I speak to groups about these increasingly popular, but often complex, retirement living arrangements one of the questions I am most often asked is whether families should avoid for-profit (FP) retirement communities and seek only not-for-profit (NFP) communities. The question is almost always prompted by the idea that NFP communities “won’t kick you out” if you run out of money. This message tends to resonate among consumers for obvious reasons. Yet, it should not be taken as a blanket statement and it should not necessarily cause you to exclude all FP communities from your search.

In summary, a strong relationship between a marketing director and an objective financial advisor can create a win-win scenario. The marketing director is awarded with a shortened sales cycle while the FA opens up a new client opportunity.

Well, despite everything I have just described there are there are actually some ways that CCRCs and financial advisors can work together to create a long-term, win-win situation.