For retirees who are in the middle stages of retirement, beginning around age 70 depending on health, now is the time to plan for your later retirement years — while you are active and able. Delaying important decisions about tomorrow’s needs may leave you and your loved ones facing difficult, and often costly, situations in the future.

One of the more important – and complex — decisions you need to consider is where you will live.  Do you wish to remain in your home as long as possible or move to retirement living community? What are the long-term care options in each of these scenarios?  How will you pay for such care?  Understanding the various alternatives will help you and your family to make better-informed decisions and provide more peace of mind about your future.

While most people say they would prefer to stay in their home as long as possible, an increasing number of retirees are considering Continuing Care Retirement Communities, or CCRCs, as a viable alternative. Such communities are appropriate for retirees who are independent today- and often still quite active- but who want to have a plan in place for their future housing and care needs. The distinguishing factor between a CCRC and any other type of retirement living arrangement is that the retirement community contractually guarantees a continuum of care- most often including independent living, assisted living, and skilled nursing care.

Ideally, moving into a CCRC should be the last residency decision you ever make. Therefore, it is important to make sure that you understand the contract details and the financial implications of the decision. For more information, visit or talk to a retirement advisory professional.

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