There are many advantages to choosing a life plan community (also known as a continuing care retirement community or CCRC) including an array of amenities and services to make your retirement carefree, plus access to a full continuum of on-site care services, if needed. If you’re considering a CCRC, you may have questions around managing [...]
Saving for your retirement and senior living goals is a lifelong endeavor for many people. Depending on your spending and saving style, you may have your money set aside into designated buckets for each spending objective. Mental accounting is the phenomenon by which we treat money differently based on where the money came from and [...]
You’ve made the decision that you want to move to a continuing care retirement community (CCRC, also called a life plan community). You’ve crunched the numbers and can afford the monthly service fee, which, according to 2019 NIC guide (sixth edition), averages $3,353 (though of course some are much higher and others much lower, depending [...]
In last week’s blog post, I wrote about 90-year-old oil tycoon T. Boone Pickens and his inspiring attitude about growing older, despite several recent health setbacks. In the article, Pickens suggests being “the eternal optimist who is excited to see what the next decade will bring.” He continues: “I remain excited every day, engaged and thrilled [...]
If you are a regular follower of my blog, you know that I normally write on senior living-related issues, most often about continuing care retirement communities (CCRCs, also called life plan communities). Choosing a retirement community, particularly a CCRC, is a big financial decision, which is why I want to dig into a tangent topic [...]
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.