The Chartiers Valley Source

Everyone has to decide what kind of retirement best suits their needs and personal style. But most seniors agree theyd like more time: to be active and enjoy themselves; to spend with family and friends; and to travel and do what makes them happy. One of the best ways to achieve that level of freedom and enhance your retirement is to retire from the responsibilities of home ownership.

If keeping up with your empty nest has become more chore than enjoyment, you have a lot of options besides moving in with your kids! One of the most popular in our area is called a CCRC a Continuing Care Retirement Community. This lifestyle has become increasingly appealing because you only have to make the decision to move once allowing you to get on with enjoying your life.

Todays CCRCs are akin to retirement resorts, with an orientation towards customer service and building a sense of community.

Most go to great lengths to create beautiful, home-like and secure environments, while offering a list of activities and events so long its like being on a cruise without the water! They offer classes, events and discussions that stimulate the mind, body and spirit. From painting, to literature, to music, theater, exercise classes, lectures and beyond each day is an opportunity to expand and explore.

A CCRC offers residents a long-term contract or residency agreement with access to health care services in the community as they age. CCRCs generally offer some combination of independent residences, assisted living, supportive services, memory support and/or licensed skilled nursing all on one campus. They require a down payment and a monthly fee and there are minimum requirements for age, financial assets and physical health.

Another related approach is life care, which not all CCRCs offer. The benefit of life care is that it provides security for the future, combining the advantages and amenities of independent retirement living with the assurance of a complete range of care for life. The life care agreement authorizes an up-front, long-term care insurance component as part of the contract for residency. This ensures that monthly fees are fixed, subject only to annual increases established for all residents, regardless of the level of care all under one roof. These fees vary by community and the type of contract offered (nonrefundable, fully refundable, or a declining refund) and the level of services and amenities provided. The amount of nursing care covered without substantially increasing the monthly service fee is often a key defining element in the various contract options of CCRCs.

So how do you find the best location and financial approach to enjoy the next phase of your life?

Educate yourself. Visit multiple communities; comparison shop and attend workshops on senior living options regularly scheduled at many communities. Its important that the feel of the community is the right fit for you.

Make an appointment. For a first visit, plan to spend 90 minutes to two hours, depending on the number of questions you have.

Be prepared. Make a list of what you consider the most important aspects of an ideal senior living community. These might include access to health care, great dining opportunities, activities, home maintenance, housekeeping, etc. Be prepared to discuss your reasons for seeking a senior living community, as well as your financial situation, including your total assets and monthly income. The counselor will discuss pricing of available residences and can identify a residence best suited to your financial profile.

Have questions ready. Understand all your options. Ask about timing and availability so you can complete the sale of your home and prepare for an orderly move. Review fees, when theyre due and whether or not theyre refundable. Ask other questions about the services included, activities, transportation, proximity to important locations outside the residence, amenities and floor plans, as well as their location within the community.

Consult others. Talk with and visit residents who live at the communities youre considering. Discuss your findings with others whose opinions matter to you your children, your financial advisor, your attorney, doctor or others or have them join you when visiting the various communities.

Taking the time to find just the right place to call home will free you to thoroughly enjoy the next chapter of your life and the effort is well worth it. Happy Hunting!