myLifeSite Blog Archives provides information and guidance on senior living, life plan communities, CCRCs, independent living, and closely related topics from myLifeSite.
If staying in the home is not the most practical choice for the future then a retirement community could be a viable alternative. However, the different types of senior homes do not all offer the same levels of care.
Aside from thinking about the fact that the local government and Chamber of Commerce in Palm Springs probably cringed when reading this, the quote caught my attention because it so succinctly describes what appears to be a new line of thinking among retirees today, which is that they are seeking someplace where they can go to “live” instead of to die.
In a recent Wall Street Journal article by Murray Coleman titled, “Online Advisers Enhance Free Services,” Mr. Coleman highlights the impact that a growing number of online financial advisors are having on the industry by offering more free tools and services. Such firms are offering free advice on things like asset allocation and instead charging for actual execution of an investment plan.
If there is one thing I have learned over the last couple of years it is that there is mass confusion among the public- older Americans and adult children alike- when it comes to the different types of retirement communities and care facilities. Ask ten people to describe the difference between “active adult living” versus [...]
When you were much younger your parents nervously sat down with you and had “the talk.” Now it may be time to have an equally awkward, but also important, conversation about senior care need that may arise in the future. The good news, the conversation doesn’t have to be as awkward as you might think.
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.