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Yes, multi levels of care is what we think we want Posted by MI-Roger [Email] (#882) [Profile/Gallery] (more from MI-Roger) on Fri, 20 May 2016 16:48:04 In Reply to: Re: OT: Continuing Care Retirement Communities, NCCaniac [Profile/Gallery] , Fri, 20 May 2016 10:54:26 Members do not see ads below this line. - Help Keep This Site Online - Signup |
I have been researching the two local communities here. One is 10 miles from our current home, close to our Doctors, Optometrist, Financial Planner, decades of history, and is far more expensive with a single buy-in plan. The other is 30 miles away in a very nice small town but a town with which we have no experience, is a very new CCRC, and is less expensive with a variety of buy-in plans.
Detached 2BR condos with attached garage, some with Dens and some with basements. Apartments in a Tower Bldg with 1 or 2 BRs, in a variety of sizes, some with Dens as well. Independent or assisted living in the Tower. Rehab Facility for transition from hospital to home. Convalescent Home facility for full time Nursing Care. And a dedicated Alzheimer's facility.
The future financial sustainability question is a big unknown. Apparently these CCRC communities are not real estate, are not securities, are not insurance plans, and are not annuities in the eyes of the law. These communities fall outside all existing oversight legislation and bureaucrats. Buyers are really only purchasing a right to live there, and a commitment to make monthly payments for life that are not insignificant. But what other options are there? Retirement communities are great when you are healthy and active but many people fall out of this category for their final years. The CRC's offer the promise of transitioning in place without the need to relocate from friends and spouse for the required increased care.
I will be 60 next month, 65 seems to be the minimum age for entrance, the waiting list is 2 to 3 years locally, so IF we decide to go this route we would be in our late 60's minimum when joining. Even at that age I am concerned with feeling too young and out of place in such a community.
That is why we are starting to investigate CCRC's and other options now.
->Posting last edited on Fri, 20 May 2016 17:08:30.
_______________________________________ Saabs owned: 2008 9-5 Aero Sedan, sold at 227K miles 2006 9-3SC 2.0T - Wife's daily driver 2000 Viggen Convertible - Sold May, 2022 1964 Quantum IV Formula Car - Retirement project 2000 9-5lpt Sedan, sold at 318K miles
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