With the recent growth of rental retirement communities—often called independent living or “independent plus”—I frequently hear people say they prefer communities with no upfront buy-in. When comparing rental communities to entry-fee life plan communities (also known as continuing care retirement communities or CCRCs), many factors matter. This article focuses specifically on the financial side of … Read more
You’ve decided to move to a continuing care retirement community (CCRC), also known as a life plan community. You’ve reviewed your budget and can afford the monthly service fee, which the 2019 NIC Guide (sixth edition) reported as averaging $3,353, though actual fees vary widely by services, amenities, residence size, and location. Beyond the monthly … Read more
What’s your passion? Whether you love art, practice yoga, ride horses, follow music, or pursue any particular hobby or identity, there’s a growing chance a retirement community exists that’s built around those interests. Often called niche or affinity retirement communities, many new senior living developments are designed to bring together people who share a lifestyle, … Read more
Recently I spoke with a couple living in a continuing care retirement community (CCRC), also called a life plan community, in Virginia. Let’s call them Joe and Becky. They’ve been at the community for about three years and say they couldn’t be happier. One thing that stood out to them was the consistently high level … Read more
Recently I spoke with two residents of Henry Ford Village (HFV) in Dearborn, Michigan—let’s call them Dan and Mary. They aren’t a couple, but over time they’ve become good friends living in this continuing care retirement community (CCRC), also known as a life plan community. I asked both the two questions I often pose to … Read more
In this blog series, we examine the differences between activities of daily living (ADLs) and instrumental activities of daily living (IADLs), and what happens when they become difficult for a person. Inpart one of our blog series “ADLs vs. IADLs,” we explained what activities of daily living (ADLs) are — the basic self-care tasks such … Read more
A few weeks ago, Bluespire Insider, a marketing group that promotes senior living communities, hosted a virtual roundtable on innovative ways to encourage social connections for residents of continuing care retirement communities (CCRCs or life plan communities). As someone who follows this topic closely, I found the discussion informative and timely. The roundtable was moderated … Read more
[Originally posted Feb 2016. Updated May 2021]. In a recent post, I described the various types of independent living senior housing providers and ways to distinguish one from another. In this article I address a common question: What is the cost of senior living? According to the National Investment Center for Seniors Housing and Care … Read more
Marketing a continuing care retirement community (CCRC), also known as a life plan community, is essential to its long-term success. High occupancy rates are critical for financial stability because residents in independent living typically cost the community less and their fees help subsidize assisted living and skilled nursing care. To maintain financial health, CCRCs need … Read more
Who would make your legal, medical, or financial decisions if you were no longer able to do so yourself? This is an essential question every older adult should address before circumstances force the issue. Without clear communication and written directives, families can face confusion, emotional strain, and costly legal battles. Below we explain elder guardianship … Read more