Bob Curtis, 87, and his wife, Sandy, put down over $840,000 to live in a continuing care retirement community (CCRC) known as The Harborside, following the sale of their home three years prior. The couple expected to spend the rest of their lives receiving care at the facility. Not only will these plans never come […]
Do CCRCs (Life Plan Communities) Have a Capitalization Problem?
By Jack Cumming Starting a senior housing enterprise or opening a new facility requires sizable investments in real estate, planning, building, and marketing. It is capital intensive. It is also a trust business in which aging residents entrust their elder years to the care and oversight of others. Trust Responsibility Both the acceptance of advance […]
Our Top 10 Scariest Articles of 2017 (Be Very Afraid!)
Halloween is today, so it’s the ideal day to present you with this year’s scariest articles. From parents being kidnapped by a professional guardian to people getting Alzheimer’s at 40, we uncovered some scary ground. To celebrate Halloween, we’ve ranked our scariest articles from least to most scary (but you be the judge) for […]
“Aging Together” With Your Parents
Q. My husband and I are in our mid 60’s. Our kids are married with their own children, and we are ready to retire. Fortunately, my mother is still doing well at the age of 85, but she needs assistance with certain things and gets lonely easily. She was living with us, but we are […]
The Financial Problems of CCRCs
A Continuing Care Retirement Community (CCRC) is an age-restricted community where, in most cases, incoming residents must be at least age 55 or older. The facilities offer independent-living units, assisted living units, and skilled nursing all in the same building or on the same campus. In addition to paying a sizable entrance fee, residents pay […]
What Exactly is a CCRC and Is It Right for My Mom?
Dear Ribbit, We are looking for the right living arrangement for my mother. We have considered assisted living (AL), but she will likely need more care that an AL facility can provide in a couple of years. I heard about Continuing Care Retirement Communities, but don’t know much about them. Can you tell me more […]
Mandating Overtime Pay for In-Home Caregivers
My mother-in-law, Stella, lives alone in her home in Florida, and her health has been declining for some time. About a year ago, we hired an in-home caregiver for her who comes 4 hours every day from a local agency. Now her health is deteriorating more rapidly, and we are thinking of hiring a live-in […]
Before You Sign a Continuing Care Contract
Continuing Care Retirement Communities (CCRC), also known as Life Care Communities, offer older adults a spectrum of services and care facilities, typically starting with independent living arrangements, then advancing to assisted living, and then progressing ultimately to nursing home care. In CRCCs, the shelter and services are offered under a contract that lasts for a […]