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Is a Continuing Care Retirement Community Right for You?

By | 2017-10-31T16:34:28+00:00 April 15th, 2013|

Continuing Care Retirement Communities (also called CCRCs or life plan communities) are an increasingly popular retirement living alternative for retirees who are mostly healthy and independent today, but seek the peace of mind afforded by living in a community that is equipped to provide for assisted living or healthcare needs that may arise in the future. Choosing a continuing care retirement community is a significant lifestyle and financial decision so how do you know if one is right for you?

Here are a few questions to consider as you do your research:

  • Are you at a point in your life where you desire less home upkeep and would prefer to have various services and amenities available to you within your community?
  • Do you want to be proactive in addressing your future healthcare needs? 
  • Is it important to you to lessen the burden on your adult children or other family members if you ever require assisted living or nursing care?
  • Would you prefer to live in community with others who are in the same general age range? >> Related Post: Can a Move to a Retirement Community Make You Healthier?
  • Do you prefer a social and active community environment that also affords you privacy and independence?
  • Is it financially feasible for you to pay an entry fee and monthly fees? Related Post: Payment Structures for Continue Care Retirement Communities
  • Are you comfortable with committing in advance to your future long-term care provider(s)?
  • Do you lack family members nearby or other loved ones that could provide a support system in the event that you require care? 

If you answered yes to most of these questions then a continuing care retirement community may be worth exploring as an option. Of course, there are many other details you should consider before making a final decision. Be sure that you understanding the the residency contract, payment structure, and financial viability of the provider. Click Here to learn more about CCRCs and what you need to ask. 

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About the Author:

Brad Breeding is president and co-founder of myLifeSite, a North Carolina company that develops web-based resources designed to help families make better-informed decisions when considering a continuing care retirement community (CCRC) or lifecare community.