I was recently on hold calling the main phone number of a continuing care retirement community (CCRC). The recorded message listed several attractive community features, but one line stood out: the community proudly advertised that it offered board games. For CCRCs to remain financially stable over the coming decades, maintaining strong occupancy is essential. That … Read more
Many prospective residents ask whether they should keep their long-term care insurance after moving into a continuing care retirement community (CCRC). The best answer depends on the type of residency contract the community offers and your individual needs. Below is a clear explanation of common contract types and how they interact with long-term care insurance … Read more
Assisted living (AL) is the largest provider of residential long-term care in the United States, and the resident population continues to grow as Baby Boomers age and need varying levels of support. A recent study from the Center for Health Services Research at the University of North Carolina (UNC) at Chapel Hill explored a key … Read more
During my financial planning years I often presented on senior living options to older adults at Duke University through the Osher Lifelong Learning Program. With roughly fourteen continuing care retirement communities (CCRCs), also called life plan communities, in the immediate area, I fielded many questions about these communities. CCRCs allow people who are independent today … Read more
Research increasingly confirms that social connection and a sense of community strongly influence well-being and longevity. Choosing to live in a retirement community offers convenient access to a built-in social network of peers and regular interaction with staff members, as well as opportunities for intergenerational engagement that enrich daily life. The power of human connection … Read more
Most people have made a purchase they later regretted — an impractical pair of shoes, a pet that damaged the furniture, or a car that fell short of expectations. Buyer’s remorse can follow impulsive choices or decisions made without enough information. Last week I received an email from a couple in their seventies that made … Read more
“Healthy aging” is a growing focus as more baby boomers reach retirement age and seek ways to remain active, engaged, and independent. A 2023 McKinsey Health Institute (MHI) survey examined how adults 55 and older across the globe define healthy aging and which priorities matter most to them. The results shed light on what older … Read more
It’s Valentine’s Day, and for many older adults love is still very much alive. Some seniors remain in long-term partnerships that have lasted for decades, while others—whether single, divorced, or widowed—are exploring new ways to find companionship. Dating and relationships for older adults in the 2020s often look different than in the past, blending traditional … Read more
A recent study conducted by Merrill Lynch in collaboration with Age Wave examined the priorities Americans place on different areas of life to help financial planners provide more effective retirement guidance. The report, “Finances in Retirement: New Challenges, New Solutions,” explored seven focus areas: family, health, home, work, leisure, giving, and finances. While priorities naturally … Read more
In last week’s post, I emphasized why it’s important to visit the healthcare center at any continuing care retirement community (CCRC, also known as a life plan community) you are considering—and to do a bit of research to confirm the level of care you can expect if you ever need it. Many prospective residents avoid … Read more