When you decide to make the financial investment to move to a continuing care retirement community (CCRC), you need complete peace-of-mind that this community will have the operational cash on hand to be able to follow through with their contractual obligations to you and other residents to provide housing, amenities, and in the future, care services. But how can you tell if a CCRC is financially viable? Here are some important questions to ask.
Humans are susceptible to a phenomenon called sequential contrast effects, meaning that your feelings about something depend on what you saw just prior. It’s a logic fallacy that can impact the decisions you make in life, including which CCRC or other retirement facility you select. And for CCRC management, it’s important to understand how the order in which prospects visit facilities influences their final choice.
A recent report from the CDC shows the first decrease in lifespans in the U.S. since 1993. Despite this decline, many continuing care retirement communities (CCRCs) assert that their residents live 1.5 to 2 years longer than the average senior. But is there actual research to support this CCRC claim?
When CCRC sales counselors meet with a prospective new resident, it is crucial that they meet the senior where they are in their decision-making process, as well as their emotional journey.
Want to live to 100? Seniors should take note of the diets and lifestyles of people who live in the so-called “Blue Zones”–places which researchers have identified as having the highest concentrations of centenarians in the world.
As you are looking at the side-by-side costs of retirement communities, you must ensure you are making an apples-to-apples comparison about what services are and are not included in the pricing so that you may draw a fully informed conclusion about which senior living option is right for you.
Many seniors, or perhaps adult children doing research on behalf of a parent, often wonder whether one of these senior living options is affordable. To help answer this question, it is important to be aware of the various payment options available.
I wonder how many prospective residents of CCRCs or lifecare communities give up searching because they are overwhelmed by the comlexity of CCRC contracts and other details?
By educating yourself about the different types of CCRCs and considering your unique situation, you can make an educated decision about the type of contract that is best for you.
