2 Key Factors in Senior Living Cost Comparisons

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 [...]

By |2023-12-04T18:34:07-05:00December 5th, 2023|

Why Isn’t Senior Living Pricing Shown on More Communities’ Websites?

In recent years, there has been a shift in mindset among senior living providers about showing pricing on their websites. In the past, you would rarely find senior living pricing clearly displayed on a community’s website. This was no oversight; it was a conscious choice based on an understanding of most people’s decision-making process. On [...]

By |2023-10-23T14:34:34-04:00October 24th, 2023|

Overview of Senior Living Cost Calculators for Consumers

A recent survey by myLifeSite revealed 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 cost and affordability. It’s understandable. Moving to a retirement community is a [...]

By |2023-08-21T07:58:12-04:00August 15th, 2023|

Financial Considerations of CCRC Fee Tax Deductions

A couple of weeks ago, we wrote a post answering a question we sometimes get about whether it’s wise to pull money from an individual retirement account (IRA) to help cover the cost of an entry fee at a CCRC or life plan retirement community. As explained in the post, in some cases, this can [...]

By |2023-08-05T16:38:33-04:00June 27th, 2023|

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 [...]

By |2023-08-05T18:13:11-04:00May 9th, 2023|

Senior Living Community, Leaving an Inheritance: Is It an Either-Or?

There was a great interview-article in Forbes last year entitled “Dilemma: Senior Living Facility or Kids’ Inheritance?” In it, financial expert Larry Light interviewed Certified Financial Planner Rick Kahler about many seniors’ desire to leave their adult children an inheritance. The interview explored the common concern that opting to move to a senior living community [...]

By |2023-08-05T18:04:29-04:00March 7th, 2023|

“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 [...]

By |2023-08-03T09:19:26-04:00February 22nd, 2022|

Planning Financially for a Move to a CCRC

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 [...]

By |2023-08-03T09:28:48-04:00September 14th, 2021|

Counterpoint: A Senior Living Community Could Cost More Than You Think

Last week, I wrote about the true cost of remaining in your current home as you grow older. As I reflected on the post, I began to wonder whether it inadvertently came across as a sales pitch for life plan communities, also known as continuing care retirement communities, or CCRCs. I was bothered by this [...]

By |2023-08-03T09:31:52-04:00March 1st, 2021|

What’s the True Cost of Staying in the Home?

Again and again, research finds that most senior adults say they want to remain in their home, at least as long as possible. While there are many reasons for this, cost is a consideration. Many people believe that it will cost less for them to remain in their existing home than to move to a [...]

By |2023-08-03T09:31:53-04:00February 22nd, 2021|
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