Retirement Communities – The Pros and Cons
These days some retirees are doing far more than just continuing to live after retirement, they are instead really living it up in retirement. After years of hard work and some savvy financial planning there is a growing trend for people all over the country and from all walks of life to sell up their old residence and make the move to a retirement community.
The retirement communities of today are a cry from the nursing homes of old. These communities are not for the sick and infirm (although such care becomes available if necessary) but for active seniors looking to get the most out of their golden years.
Amenities in many retirement communities include world class golf courses, gourmet restaurants, all manner of sporting activities and some even feature onsite movie theaters and shopping malls.
Although all of these luxuries are wonderful an even bigger benefit for those who choose to move to a retirement community is the notion that all levels of medical care will be easily available to them, something that brings an extra sense of peace of mind to the families of retirees as well as to the seniors themselves.
The average continuing care retirement community offers three levels of care. Independent living sees a healthy person or couple move into their own townhouse or condo, free to live alone but take advantage of on campus health services on an as needed basis. If a person begins to need help with daily living tasks if they develop an aging related impairment daily nursing services are made available to them within the home for as long as it is possible. If independent living becomes an impossibility there is then the option to move into a supervised nursing home where patients can receive all the care they need.
This is not an inexpensive option for retirement though. Upfront move in costs vary wildly, anywhere from $20,000 to $1 million for the very luxurious retirement communities. After that there may be rental expenses on top of daily day to day living costs. For this reason seniors should do a good deal of research before choosing a retirement community or even making the decision to live in one. This involves going beyond glossy brochures and actually finding out how pleased others have been with all levels of care. Some retirees have been delighted with independent living at a certain retirement community only to be disappointed by the levels of advanced care.
November 30th, 2009 at 5:03 am
Although costs for retirement communities may seem steep, they are often the equivalent of living in one’s own home. Veterans or widows of veterans who have wartime service may be eligible for a VA Aid and Attendance Benefit which delivers up to $23,000 per year, tax free to married veterans, and a bit over $12,000 to widows of wartime veterans. Qualifying for this Improved Pension Benefit may mean the difference bewteen a mediocre retirement and truly living out the Golden years with grace and ease. The American Association of Wartime Veterans is a non-profit organization that will complete and submit the VA application for qualified veterans at no cost. Missouri Veteran families also receive a compimentary consultation with a VA Accredited attorney who reviews their supporting legal work, including wills, trusts and durable powers of attorney. Missouri families can contact the AAWV at http://www.MOVeteranAid.org for more information.