One of the biggest obstacles in choosing a life plan community (more traditionally known as a continuing care retirement community or CCRC) is affordability. Or, as we like to say here at myLifeSite: Is it a good financial fit? For many prospective residents of a life plan community, the question may not necessarily be [...]
As we discussed in last week’s blog post, the “Peak 65” portion of the Baby Boomers — the generation’s final cohort to reach retirement age — faces a financial landscape that is promising for some but uncertain for many. Indeed, the contrast is striking: While Baby Boomers collectively control a significant portion of American wealth [...]
If you’re considering moving into a retirement community, one of the first things you’ll want to understand is the cost. This includes any upfront costs, like an entry fee (if applicable), as well as the monthly costs. While pricing can vary significantly depending on the location, type of community, type of contract, and level of [...]
We often discuss older adults’ reasons for delaying a senior living move. Some of the top justifications for putting off such a move include not wanting to deal with downsizing, not feeling “old enough” or “ready,” and concerns about cost. And as we wrote about last week, another key roadblock is a fear of losing [...]
When planning for your retirement, selecting the right place to live becomes a major part of your decision. There are many factors to consider when thinking about where you will want to live — among them proximity to family, climate, and community type. But the importance of cost in this decision process cannot be overstated. [...]
We’ve written several blog posts recently that have garnered attention, including one on the growing market for luxury retirement communities, and a post on the ever-increasing number of affinity retirement communities. But as we’ve noted, it is important that the senior living industry also continue designing solutions that work for the so-called “Forgotten Middle” — [...]
Services. Amenities. Location. Floorplan. Availability of care. These are some of the community features that affect senior living cost. At myLifeSite, we’re often asked about comparing retirement communities and costs. Just last week, we received a question about whether a rental community is better than a community requiring an entry fee, sometimes referred to as [...]
The cost of residing in a senior living community varies dramatically based on breadth of services, amenities, size of the residence, location…and sometimes the type of residency contract.
