Category: Family and Retirement
September 28, 2022-- As a follow up to our recent article, "There Might Be More Than One Kind of Home for You in Retirement", this one concentrates on the latter stage of retirement. What you will do when you are a little less active, and your abilities are not quite what they were in the beginning and middle phases of retirement? The idea for this started when the eldest sister in our family, approaching her 79th birthday, asked our relatives what they were planning for their late retirement years. We agree this is an important conversation to have, particularly with one's children and other family members. We hope that you will add your thoughts in the Comments section below, so we capture a wide range of opinions and plans.
The conversation started with this question:
We have no plans to sell our houses or to move, but it is certainly time for us to think about the future. With our children spread out, we could go many places. Our policy up to now has been, when we need help we will pick up and move close to one of our children. But I wonder if that might be too late. It’s hard for an older couple to make a big move, particularly if one is needy. Since both of our parents lived to a ripe old age (92 and 102) with most mental faculties intact, our genetics make it seem like we should be planning for the long term.
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Published on September 28, 2022
Comments 11
Category: Life Care or CCRC
October 26, 2021 -- For most people, the answer to the question of the right time for moving to a Life Care community is - "when I get older". It pretty much doesn't matter how old the person is at the time; some undefined date in the future is always the answer. True, a minority make the decision when they are in their 60s or early 70s, but they are the outliers, often with a good reason for doing so.
Topretirements has some good friends who have wrestled with this decision for years. Their current situation, unfortunately, illustrates the problem so many people will face. He is in his mid 90s and she in her early 80s. She has wanted for some time to move from their town home into a Continuing Care Retirement Community (CCRC, often known as a Life Care Community). He, however, is never quite ready. Fortunately, they did put a deposit down at a Connecticut CCRC, but used a decision to wait for one of the larger units as a way to delay the move. He just had a serious medical incident requiring an extended hospital stay with an uncertain future, so now he is ready to take any unit that comes up. Although it looks like their deposit has secured them a place, they are about to have a very rough patch ahead. Two elderly people with mobility problems are not going to have an easy time moving, let alone dealing with culling down a jam-packed town home's contents to fit into a much smaller apartment.
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Published on October 26, 2021
Comments 16
Category: Life Care or CCRC
March 23, 2021 -- Whew, you finally figured out your retirement. You know where you are going to retire, what you are going to do everyday, and how you are going to pay for it all. Congratulations!
But before you get too complacent, there is an important part of your retirement plan that you might not have considered - how that plan might change if you survive into your 80s and 90s (and we hope you do!). In this article we will first talk about the key issues that need to considered in what is called forward planning, and then provide comments from Topretirements members about their planning for long term retirement.
At 65 or 70 most of us feel pretty good and are able to do most of the things we have always done. Our health might not be perfect, but we are getting along OK. Unfortunately, this won't always be the case, even though most people don't ever consider that. Our health can change in an instant - cancer, heart problem, Covid long term symptoms, stroke, or an accident. Even if we escape those scourges, old age is inevitable. If we are lucky, it will happen, and diminished faculties will come along with it. Sound long range retirement planning acknowledges this and takes steps to best manage it. Most importantly, taking forward planning into account early in the process can lead to a much more sensible retirement plan, one with fewer mistakes and do-overs.
The major long term retirement issues
These are some of the big long term retirement issues to consider. There are undoubtedly more, and we look forward to your comments and suggestions.
Health. Most of the problems that come with old age are health related. So beyond taking good care of ourselves, we need to recognize we will probably need a lot of medical care as we age. Choosing a retirement location with easy access to high quality medical care is therefore important. Living on a lake might be appealing, but if it is 100 miles from a big hospital and we have a big emergency or require treatment for a chronic condition, it is not such a good choice.
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Published on March 23, 2021
Comments 60
Category: Active adult communities
October 20, 2020 -- Jaw-dropping amenities like indoor therapy pools, art galleries, and rooftop decks overlooking the Brooklyn Bridge. Lifecare options along with concierges and celebrity chefs. For those who crave the bright lights and constant stimulation of an urban retirement, many new luxury options are coming. Expensive, yes, but what an interesting lifestyle for those with the means to pay for it! After all, if you have it, why not spend some of it to get the most out of your remaining years?
Rooftop terrace at the Watermark
Retirement in a big city is not for everyone, but there is a small segment that really wants it. New York City, which has many older people but not that many senior retirement living choices, is adding a raft of them in the next year. One of the newest and fanciest is the Watermark at Brooklyn Heights. Converted from a luxury hotel built in 1928, it retains many grand features from that earlier era. For example, the former grand ballroom is now a dazzling restaurant. The Watermark community offers a full range of care from independent living to assisted living to nursing care. There are 275 units. Developers have included an amazing 50,000 sq. ft. of amenity spaces that incorporate three restaurants, a pool, and art gallery. A rooftop deck overlooks the Brooklyn Bridge. Watermark told the New York Times that it looked for 2 decades to find an urban spot like this. The reporting was in an article about "New Senior Housing Towers Coming to New York".
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Published on October 20, 2020
Comments 0
Category: Life Care or CCRC
February 27, 2016 -- One of the best pieces of advice we have heard about retirement is to take the long view, rather than just focusing on the early years. The long view idea is to find a place to retire where you can live the rest of your life - regardless of your health or ability to do various activities - without having to move again. And one of the best ways to do this is to choose a Life Plan Community (sometimes Life Care), which are also referred to as Continuing Care Retirement Communities (CCRCs).
Life Communities, of which there are about 2,000 in the U.S., combine the best of several worlds in one package. New residents typically live in a nice apartment or small home that isn't much different from what you would see in an active adult or 55+ community. There are extensive community facilities, amenities, transportation, and social and cultural programs. The campuses are usually quite compact - often you can walk to everything without having to
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Published on February 27, 2016
Comments 15
Category: Active adult communities
Note: This is the 4th in a series on college town retirements. See Further Reading below for links to the other installments.
November 11, 2014 -- College towns are very often great places to retire. You are virtually guaranteed an interesting cultural life with plenty of opportunities to stimulate your mind. In most cases you might be able to take or audit college classes, or perhaps there is a Lifelong Learning program set up with the college. There are sporting events to attend, as well as world class facilities you might be able to use such as gyms or pools. College towns usually have more interesting shops and restaurants than in comparable towns. Lastly, most people find the presence of young people to be invigorating.
What Are College Affiliated Communities
Several colleges and universities have set up or have relationships with active communities or Continuing Care Retirement Communities (CCRC)
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Published on November 11, 2014
Comments 6
