Continuing care retirement communities, also called CCRCs or “life plan communities,” can be a wonderful lifestyle solution for many retirees and older adults whose situation is not necessarily conducive to aging at home- which happens to be the case more often than people realize. While there are no perfect solutions and a CCRC may not be the right choice for everyone, I have to believe that the penetration rate should be higher than the current approximate average of 4.5 – 5%. While there are a number of possible reasons I think this excerpt from an email I recently received points to one key reason:
“I spoke with you after your presentation at [retirement community]. I began my project of looking for a retirement community many years ago. What I thought would be a simple process has turned into a baffling, unclear, frustrating experience. I can see why people give up (not me!) because it is very confusing.
Did you notice what she said…“I can see why people give up.”
I wonder how many prospective residents of CCRCs or lifecare communities give up searching because they are overwhelmed by the complexity of CCRC contracts and other details? How many simply throw their hands up and say “Forget it. I’ll just stay where I am.”
It will be interesting to see how, or if, the industry responds over the next 5-10 years as the oldest baby boomer begin reaching their mid-70’s and start thinking more about their retirement living options.
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