By Janice Daniel
The following story is part of a joint project between myLifeSite and Senior Correspondent where we ask people to report on their senior living decision process.
In 2003 my husband Dave and I first learned about continuing care retirement communities (CCRCs). As we approached our senior years, it became essential to find a community that would provide peace of mind and reliable care for the rest of our lives. A CCRC seemed like a promising solution, but we wanted to be certain.
To learn more, Dave spent three years working at a local CCRC. That hands-on experience gave us valuable insight and confirmed that a well-run CCRC could deliver the quality of care and stability we were seeking.
What followed was an eight-year search to identify the best CCRC for our needs. We conducted thorough research using the internet, phone interviews, onsite visits, and conversations with residents. From each community we requested a marketing packet and reviewed it carefully. Drawing on my 30-year career in banking, I placed special emphasis on evaluating financial strength and stability — a critical factor in our decision. We also visited CCRCs in several states to tour facilities, meet senior management, and assess proximity to medical centers. Entrance and monthly fees, floor plans, technology, and amenities were all compared and weighed.
After extensive due diligence, we narrowed our choices to two lifecare communities that matched our criteria. Then we encountered a newsletter article from the National Continuing Care Residents’ Association (NaCCRA) that changed everything. The article explained how to evaluate a CCRC’s finances by analyzing tax returns, highlighting net asset value (NAV) as a key metric. A consistently negative NAV raised red flags: why was it negative, and for how long? We wanted assurance that our community would be financially secure for the remainder of our lives.
When we applied that financial vetting to our top choice, we discovered it did not meet the standards outlined by NaCCRA. Disappointed but undeterred, we returned to our research with sharper criteria. The NaCCRA guidance ultimately steered us to Royal Oaks in Sun City, Arizona. Royal Oaks met all our requirements, including a long track record of positive net asset values and overall solid financial health. It also carried an ‘A’ rating from Fitch, a respected credit rating agency.
We have now lived at Royal Oaks for two years and feel fortunate that our diligence paid off. The community is vibrant, supported by capable management and staff, and populated by friendly residents. Its technology and IT services are modern and reliable. Most importantly, Royal Oaks offers four levels of care that are compassionate and well-rated. This year the community celebrates 35 years and has announced a new Master Plan that adds to the excitement here.
For Dave and me, the peace of mind we enjoy today is the result of detailed research, careful financial vetting, and visiting communities in person. Those steps helped us choose a community where we feel secure and welcomed.
About the Writer
Janice Daniel is retired from a 30-year banking career and currently resides at Royal Oaks retirement community in Sun City, AZ, with her husband Dave. She enjoys an active retirement, taking part in activities such as serving as secretary of the Royal Oaks computer club, watercolor painting, hosting the monthly Birthday Breakfast, playing cards and dominoes, and socializing with friends.