Planning Financially for a Move to a CCRC
Every so often I get asked about financial guidance on moving to a continuing care retirement community (CCRC or “life plan community”). Although I no longer provide one-on-one financial planning advice as in my previous career, I thought it might be helpful to write a post with some key considerations when planning financially for a [...]
CCRCs Should Consider Opening Their Doors to Their Neighbors
I recently read a heartwarming article about Three Crowns Park, a continuing care retirement community (CCRC, also called a life plan community) in Evanston, Illinois. It shares how Three Crowns has forged a years-long relationship with the children’s summer sports camp located across the street from the community. Each day, when camp ends, the children are escorted [...]
A Little-Known Detail about Medicaid Qualification and Paying for Long-Term Care
For fiscal year 2020, 76.5 million Americans were enrolled in Medicaid, including 6.4 million seniors. Medicaid is the single largest payer for long-term care in this country. In part, that’s because the cost of long-term care can be so exorbitant — averaging $51,600 a year for assisted living and $93,000 for a semi-private nursing home [...]
Four Steps to Choosing the Right Retirement Community
So, you’ve been thinking a retirement community could make sense for you. It can be an attractive senior living option for a number of reasons: the social interactions and relationships, activities and amenities, care services (when available), peace of mind … and the list goes on. But how do you choose the right community for [...]
Is the Pandemic’s “Severely Lonely” Senior Living Resident a Myth?
As I’m sure you’re aware, COVID-19 cases are surging as a result of the Delta variant. In many areas, hospitals are exceeding capacity as more and more people — especially the unvaccinated — fall seriously ill. It is easy to feel forlorn reading headlines about another round of potential restrictions, remembering the isolation and loneliness [...]
Family Caregiving Can Present Stressful Challenges
Family caregiving is often referred to as a labor of love. It can be fulfilling to care for someone who has perhaps cared for you, and it is a responsibility some people feel duty-bound to perform. But even for those who recognize the sense of purpose that comes with the role, family caregiving can still [...]