In the Bay Area, a continuing care retirement community (CCRC) can easily charge an entry fee of $1 million dollars or more.¹ That’s in addition to monthly costs that can reach $5,000 and beyond. For those who can’t finance that all in cash, it is advisable to put a financial plan in place well before you anticipate making the move. Adult children might consider getting involved in creating this financial plan to help their parents pick a good option.
Applying to a Continuing Care Retirement Community can be a very daunting process. To help prepare for this task, we’ve created a checklist of the top fifteen items to gather and prepare before completing your application.
Continuing Care Retirement Communities (CCRCs) can be an interesting option for retirement living. However, there are a fair amount of details and fine print that matter. To help orient our community, we have created a list here of 10 key questions to ask when interviewing a CCRC.
Planning for living arrangements in retirement is a complex process that touches many facets of our clients’ lives, from financial and estate planning to family communication and quality of life questions. Iris Nguyen JD, Wealth Architect, shares some insights.