As we age, the years often seem to pass more quickly. The holidays offer a chance to pause, reflect on priorities, and recommit to what truly matters—whatever that may be for you. As Benjamin Franklin observed, “Dost thou love life? Then do not squander time, for that’s the stuff life is made of.”
2023’s top senior living blog posts
With the new year approaching, here’s a look back at the five most-read posts on the myLifeSite blog in 2023.
- Why Isn’t Senior Living Pricing Shown on More Communities’ Websites?
Despite the wealth of information available online, many retirement community websites avoid publishing clear pricing. Pricing transparency can be sensitive because communities are balancing how to communicate value against the sticker price. This article examines reasons communities may withhold pricing and the benefits and drawbacks of listing costs on a website.
- Are CCRC Tax Deductions Only Available at Non-Profit CCRCs?
Residents of continuing care retirement communities (CCRCs) may be able to deduct part of their monthly fee—or even a nonrefundable portion of an entry fee in the first year—as a medical expense, either for care already received or as prepayment for potential future care. There’s sometimes confusion about whether this deduction applies only to non-profit CCRCs. This post explains the general principles, while noting that individual tax situations should be discussed with a qualified tax professional.
- Financial Considerations Around Potential CCRC Fee Tax Deductions
Because CCRCs (also called life plan communities) provide a continuum of care, a portion of entry fees and monthly fees can sometimes be treated as prepaid healthcare expenses. That classification may allow for significant tax deductions in the first year on the entry fee and ongoing deductions for monthly fees. This post explores additional financial considerations related to these potential deductions.
- What Your Financial Advisor May Be Overlooking When Calculating CCRC Costs
Many financial advisors are familiar with assisted living and long-term care but may be less experienced with life plan communities, which have different cost structures and variables. Most financial planning tools aren’t built to account for the many potential cost elements unique to the life plan model. This article outlines what to bring to your planning meeting and which details to discuss with your advisor.
And our most viewed senior living blog post from 2023 was…
- What The Best Life Plan Communities Have in Common
CCRCs stand apart from other senior living options in both how costs are structured and the access they provide to care services. If a life plan community seems like the right choice for you, it helps to know what strong communities prioritize. This post highlights key qualities commonly found in top life plan communities.
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The myLifeSite blog covers a broad range of topics important to seniors. Visit the main blog page to see recent posts, sign up for notifications when new articles are published, or use the search to find past posts on topics of interest. If you’re evaluating senior living options, try the free online retirement community search tool available on the site to compare communities and find options that meet your needs.
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