For-Profit CCRC vs. Nonprofit CCRC: What’s the Difference?
While there are clear differences between for-profit and not-for-profit CCRCs it does not mean that one is necessarily better than the other.
Assessing the Affordability of a Life Plan Community
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 [...]
Senior Living Affordability: A Top Priority For Choosing a Retirement Location
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. [...]
Overview of Senior Living Cost Calculators for Consumers
Surveys show that one of the top reasons older adults delay or avoid a move to a senior living community, such as a continuing care retirement community (CCRC/”life plan community”) or other independent living community, is the concern over price and affordability. It’s understandable. Moving to a retirement community is a big enough decision on [...]
What Financial Advisors May Be Overlooking When Calculating CCRC Costs
Choosing the right life plan retirement community (i.e., continuing care retirement community or “CCRC”) is an important decision, impacting your quality of life and your finances. If you utilize the services of a financial advisor (FA), it’s likely you will seek their guidance in analyzing the potential impact of this move on your estate. The [...]
Streamlining Your Senior Living Marketing and Sales Process
Senior living sales and marketing has gotten incredibly complex, bringing new challenges to the task of meeting demand generation goals. From complicated pricing and contract models to seniors who want a different kind of senior living experience, friction too often is stalling the sales process. It’s going to take a different approach to reach and [...]
Marketing Your CCRC with a Compelling Story About Affordability
Marketing a continuing care retirement community (CCRC, or life plan community) is crucial to a CCRC’s success. Why? Because CCRCs need to have high occupancy rates in order to remain financially viable. In essence, residents who live in the independent living portion of a CCRC cost the community less and thus their fees help subsidize [...]
Becoming an Educated Senior Living Consumer
This past week, I had the pleasure of speaking to a group at Ventana by Buckner, a beautiful new continuing care retirement community (CCRC, also called a life plan community) in Dallas. It was a great opportunity to interact with prospective residents and help answer some of their questions on topics like financial hesitancy, for-profit [...]
“I’m Not Ready Yet” Part 2: The Cost of Peace of Mind
In the “I’m Not Ready Yet” blog series, we will be taking an in-depth look at some of the most common reasons why people put off a move to a continuing care retirement community (CCRC) or other senior living community. In last week’s post, we talked about one of the common reasons that people put [...]
You May Be Able to Deduct Some CCRC Costs from Your Taxes
Over the past months since COVID-19 turned our world upside down, I’ve done a few dozen webinars for prospective residents of various retirement communities across the country focused on planning for the future in an uncertain environment. One of the most common questions that I get during the Q&A portion of these sessions continues to [...]