The National Opinion Research Center (NORC) at the University of Chicago is a well-respected, nonpartisan research organization that studies and analyzes a range of social and economic topics. In 2019, they published their groundbreaking “Forgotten Middle” study, which explored how the number, demographics, health status, and financial resources of middle-income seniors would evolve in the [...]
A continuing care retirement community (CCRC, or life plan community) is a senior living option that offers residents a range of independent living choices but also provides a continuum of long-term care services including assisted living or skilled nursing care if later needed. In addition to the many social and wellness opportunities afforded to CCRC residents, [...]
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.
My experience in talking with prospective residents is that, from a financial perspective, the question is not so much about “can I afford it” as much as it is “to what extent can I afford it?” Many who are considering moving to a Continuing Care Retirement Community want a better understanding of what the financial impact to their estate could be based on a range of possible scenarios.
