Retirement Community

Life In A Continuing Care Retirement Community

For many people a continuing care retirement facility is seen as somewhere that they may end up having to move to if they find that you are no longer able to cope with living on their own and is, more often than not, something that they see themselves being forced into by their children. The phrase "I think it's time you went into a home dad" springs to mind! While this can certainly be the case, the reality of the situation is very different. Continuing care retirement communities are designed for a wide range of retired people including not only those who need assistance with living or nursing care, but also those who are quite healthy and able to live independently and to look after themselves. They often offer a wide range of accommodation from studio apartments to single-family homes, which can be rented or purchased, and frequently provide a wide range of recreational and social activities. There are even continuing care retirement communities that cater to special interest groups such as golfers.

One of the great problems with growing old is that your needs will change over time, sometimes temporarily and sometimes permanently, and, unless you have a good support network around you, it can be difficult to cope. Many people for example find that they are unable to cope with the upkeep of their home and need to sell up and move to somewhere smaller. Then they find that they encounter problems with a range of day-to-day activities and, while they are in generally good health, they need help with things like bathing or cooking. At this point they will often be forced to sell up and move again into an assisted living facility. And so retirement continues as one upheaval after another. For many a continuing care retirement community can provide the ideal solution. The principal is simple. While you are still relatively fit and healthy you move into a community which will then become your home for the remainder of your life. You choose from a range of accommodation to suit your needs and finances and also choose from a range of care packages.

At this point you enter into a contract with the community paying a one-time entrance payment and contracting to pay a monthly fee thereafter. Costs vary widely depending upon the community itself, the accommodation chosen (including whether it is purchased or rented) and the care package chosen but, in general, the entrance fee can be as low as $20,000 with monthly fees in the region of $400. At the top end of the scale entrance fees can be as much as $500,000 with monthly fees in the region of $3,000. Once you are a member of the community you are then literally settled for life. You can make new friends and settle down in the knowledge that as your circumstances change the community will continue to care for you. For example, if you find that you require assistance then you may be required to move into different accommodation so that the care you need can be provided, but you will still remain within the community and amongst your friends and people that you know. If your condition is only temporary you can even move back into your original accommodation once you are able to cope again by yourself. Despite the apparent advantages, this may still seem like something that you really can't see yourself considering until the need arises. Well, that's perfectly understandable. There is, however, one other thing that you should think about. One of the biggest expenses faced by anyone in retirement today is that of healthcare and this is particularly true when it comes to long-term and continuing healthcare. If you wait until you need a continuing care retirement community then the cost of entrance and the monthly fees can be quite high. However, if you make the move when you are still reasonably healthy independent the costs can be a lot lower. A retirement community is certainly something to think about.