Continuing Care Retirement Community – CCRC Guide Review
St. George Village in Roswell, GA is the FIRST Life Plan/Continuing Care Retirement Community in Roswell. Not sure how big a deal that is, frankly, but that’s what the sign says!
Anyway, I broke out my brand new Go Pro Session and man oh man, is this thing awesome. I’m going to get the hood mount so next time you can see the scenery almost like Google street view. It’s going to be awesome.
I love the “live” looks, actually. So, hope this shows some of the scenery, moreso than just the sales brochure.
If there is a place you want me to shoot, let me know.
Anyway, take a look around as I drive though the community.
I will post another video on the pricing as well.
A couple links to the youtube channel I mentioned during the video.
Continuing Care Retirement Communities are gaining market share as more baby boomers age.
In this episode I go over a guide from the CA Advocates For Nursing Home Reform. While the guide is nearly 10 years old and I’m not familiar with this specific organization, it is definitely worth your time to read, especially if you are looking at a CCRC.
CCRCs Similar to Long Term Care Insurance
CCRC’s act like a long term care insurance policy. They take away your concern of wondering how you’ll get care if something happens to you or your spouse.
The entrance fee is generally based on the local community average housing costs. So, keep that in mind. If you are in Alabama and looking to sell your house to go to a CCRC in Los Angeles, you’re probably going to need to come up with cash even after selling your home.
The monthly fees can increase, and most likely will, each year. You’ve got to make sure you have the ability to pay for the increases. Your Cost of Living Adjustments from Social Security won’t cover those increases in the least.
One thing I thought was interesting in this article was it focused on the lifestyle adjustments one needs to make. Think about it, your whole life you lived in a neighborhood of varying people; Retirees, young families, single couples etc.
Now you go into a CCRC and you’re going to be with people your age exclusively. That may be quite an adjustment especially if you’re in an apartment. Just something to think about.
CCRCs mainly are non-profits
Most CCRC’s are non-profit. Don’t think that means they’re any more “righteous” than for-profit organizations. You just have to look deeper. Some sponsoring organizations offer their name only, but don’t do anything on the day to day management.
Lots of interesting information in this guide for sure. Link is below.