We occasionally get questions about how continuing care retirement communities (CCRCs or “life plan communities”) obtain their bond ratings and what these ratings mean. At a time when the financial viability of CCRCs is an increasingly important component of the consumer's decision process, it may be helpful to cover some details regarding CCRC bond ratings. [...]
You may have heard the term “the sharing economy” of late. It’s an increasingly popular model where everyday people share their resources, be it a car (think Uber and Lyft ridesharing), office space (such as coworking hubs), or crowdfunding (like Kickstarter fundraisers). But an example of the sharing economy that is really taking off among [...]
We all know people who are happily married, as well as ones who are miserably so. The same goes for singles — there are those who are single by choice and those who would do anything to have a partner. No matter which group you fall into, it’s important to understand the implications for your [...]
I am fortunate to once again be traveling, visiting continuing care retirement communities (CCRCs, also called life plan communities) across the country. In my travels, I have the opportunity to check out all sorts of cities and towns, and I enjoy getting a feel for new places — meeting the locals, seeing the sites, trying [...]
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 [...]
