I read an article this past week that got me thinking about an issue that commonly arises as people grow older: let’s call it the “senior living shuffle.” This particular article recounts the story of a woman named Connie. Connie and her husband, Dean, had been living in their own home and even took in [...]
The demand for home health care services is rapidly growing in the U.S. This has been driven by an array of factors in recent years. First, the baby boomers are reaching the age where they are more likely to need assistance. Second, the pandemic has made some people uneasy about the prospect of living in [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 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 [...]
You’ve probably seen the “help wanted” signs at businesses across the country. Many industries are desperate to hire enough staff to meet demand and are looking at different ways to entice prospective employees to apply. Yes, higher starting wages is one obvious incentive, but some companies are offering education reimbursement as well. Perhaps most notably, [...]
I recently wrote about potential tax deductions for residents of a continuing care retirement community (CCRC, or life plan community). In short, depending on your individual tax situation, a deduction may be available to you on a portion of your CCRC entry fee, as well as a portion of your ongoing monthly fees since they [...]
