Who lives in a. CCRC and what do you think if it? (move, communities)

[Jkgourmet]

We've just started to look into these as an alternative in the future. (DH is 76, I am 63.) I'm interested in getting input in what is experienced by those Who are actually living in these communities. And those who dealt closely with relatives in CCRC'S.

(Note I am NOT talking about assisted living facilities. We are looking at campuses that offer a continuum of aging care needs—from independent living, assisted living, and skilled nursing care can all be met within the community.)

[MI-Roger]

I will be following this thread as buying into a CCRC is in our long-range plan, somewhere around 2030.

In our research and observations:

• Some faciities offer non-resident memberships whereby a future potential owner can participate with the current CCRC residents to experience the facilities and programs while on the waiting list (see below)
• There appears to be significant differences in the physical capabilities of residents between local CCRC's. Some have a very active population while others appear to be almost Assisted Living Facilities (or even more limted) but under a different moniker. An advertising photo of their recent Men's Group outing showed half the men in wheelchairs with oxygen bottles.
• COST! The desirable facilities will not be inexpensive. Another example of you get what you pay for - if lucky.
• Multi-year waiting lists for an opening may exist at the more desirable CCRC's

[oldsoldier1976]

Like MI I am considering CCRC as well in the future. I am 62 and my wife is 61. Eventually I will not be able to do the home maintenance I do now. I think that there will be more of these types of facilities being built in the future as more and more baby boomers age up. As we do we will fill those facilities already in place so new ones will have to be built.

It would be nice to hear from those living in or have family in a CCRC.

[athena53]

My Grandpa and his second wife lived in one in FL for years. She predeceased him and he died maybe 20 years ago so this is sort of ancient history but I'd visited them once and liked the place. They had a nice apartment with a kitchen but also a dining hall, and many activities, They were both in the chorus. It got bad only near the end when Grandpa didn't want to move into the "health center" (their euphemism for the LTC facility) and was paying $10K/month for home health care and they weren't very good. (He went through multiple electric shavers because the guy who shaved him in the AM would hold it by the cord and the shaver would disconnect from the cord, hit the floor and no longer work.)

I'm 66 and my intent someday is to move into a good one near DS and DDIL.

[old_cold]

I've looked into several but came to the conclusion that you'd have to be reasonably wealthy to even consider it for more than a handful of years.
I'd hate like hell to be kicked out in my 80s.

[Jkgourmet]

Originally Posted by old_cold

I've looked into several but came to the conclusion that you'd have to be reasonably wealthy to even consider it for more than a handful of years.
I'd hate like hell to be kicked out in my 80s.

A couple of comments here:

Quite a few CCRC's are 'not for profit' and have a charitable foundation attached to them. As part of your contract, if you run out of money, that foundation takes over your costs. Hence, you don't get pitched out.

Ive no idea how to define "reasonably wealthy". But we sat down and looked at the annual costs of our current residence and lifestyle. Living in a CCRC would eliminate certain expenses: Real estate taxes, cleaning ladies, 1-2 meals a day (and a decrease our dining out budget), one car, insurance for one car, homeowners insurance, home maintenance, costs to repair or replace appliances, most utility costs, HOA dues, gardening and landscaping. In our case, our low interest mortgage payment would go away. Getting rid of those expenses makes the cost of a CCRC not look as expensive as it did at first glance.

[fluffythewondercat]

I did a contract job once which consisted of posing as a middle-aged adult child looking to place my mother in a specific for-profit CCRC. So I know quite a bit about how they work.

I also resolved privately never to enter into one. I'm not crazy about putting my well-being into the hands of an entity that is keen on cost-cutting to enhance their bottom line.

About the only control you have as a resident is to move out and claim a refund on your entrance fee, which can be a million dollars or more. In Palo Alto a resident sued Vi Living -- the very CCRC involved in my research -- claiming the entrance fees were being diverted to the parent company rather than being placed in a reserve fund, as required by law.

At the time, units were going for $4k to $6k a month.

[Lizap]

Originally Posted by Jkgourmet

A couple of comments here:

Quite a few CCRC's are 'not for profit' and have a charitable foundation attached to them. As part of your contract, if you run out of money, that foundation takes over your costs. Hence, you don't get pitched out.

Ive no idea how to define "reasonably wealthy". But we sat down and looked at the annual costs of our current residence and lifestyle. Living in a CCRC would eliminate certain expenses: Real estate taxes, cleaning ladies, 1-2 meals a day (and a decrease our dining out budget), one car, insurance for one car, homeowners insurance, home maintenance, costs to repair or replace appliances, most utility costs, HOA dues, gardening and landscaping. In our case, our low interest mortgage payment would go away. Getting rid of those expenses makes the cost of a CCRC not look as expensive as it did at first glance.

We are also planning to move to a CCRC in our mid 70s. One potential problem I see for the OP is that her husband is probably ready for a CCRC while she may not be, because of their age difference. The CCRCs we've looked at require considerable income as well as net worth to qualify. The ones we've looked at usually do not kick anyone out because of financial hardship, but they very closely scrutinize your finances prior to admittance.

[luzianne]

Living in a CCRC doesn't appeal to me at all, no matter what the cost or how much money I had. I hope I die before I get to the point of needing something like that.

[TuborgP]

We are affiliated with one as a future resident and just visited another one and may affiliate with that one also. Options, options as who knows what the future landscape will look like. We have also attended social functions at the one we are already affiliated with.