Retirement Communities: What You Need To Know When Shopping Around
One, it combines different types of living arrangements under one umbrella. But most importantly,
it has certain desirable characteristics associated with long term care planning.
However, it's important to note that regardless of where or what type of community you choose
it is critically important that you've fallen in love with the place. With that said, I can't stress enough
how important it is to start shopping around early.
As you start shopping, you'll want to focus on Continuing Care Retirement Communities (if there are any in the
state where you decide to call home in your retirement). Here are certain details you need to look for
once you start visiting any community you visit.
Pay close attention to how the staff interacts with one another. Are they professional towards
one another? Forget about the person who is trying to close the sale and who is pretending to be
nice by putting on a smile from ear to ear.
Pay attention to the type of healthcare services offered. If theirs is nonexistent or limited, then
this might mean a drain in your retirement funds since you'll have to rely on outside companies which
will charge you a hefty hourly fee for private care.
Once again, forget the staff. Demand to talk to some residents in private. This is for two reasons. You want
to see how they like the community, what they like about it. Secondly, you want to see if you like the
residents themselves. So you need to like both residents and staff for a good match.
You'll want to inquire on the community's security features (including security personnel). You're looking for places
where security is on watch 24x7.
Once you think you've found a good match in the areas mentioned above, and you're satisfied with the place
you'll want to take a look at their contract and understand as much as you can about the fees (entry fees, monthly fees
and what they cover etc..). But you will not sign anything until you will have the contract reviewed by a competent attorney. Preferrably one who specializes in elder care). Believe me, it will be worth the fee (which incidentally shouldn't go above $1,200-$1,500).
Oh yeah, one more very important thing. Check out the food. Find out how residents are involved in the
planning of the menu. Very very important.
Why take all this care? Simple. You don't want to move a dozen times. And the retirement communities know that
the last thing you want to do is move. So you want to negotiate a deal you can live with before you move in.
Don't think for a minute that you'll be the only one with demands. Be prepared to provide some detailed financial disclosures during the
application process. You'll be required to show proof of your financial ability to pay, proof of insurance (some insist
on your having long term care insurance). You'll have to pass a minimum health screening as well.
So you want to apply while you still have the vitality common to those in their early 70s. At 80, they begin
to be a bit more selective. So don't wait too long to find a community that you like. You can expect a number of advantages in continuing care retirement communities. Here are some of them: Speaking of advantages, here's one more. The American Seniors Housing Association conducted a study where they found that those living in continuing care retirement communities were happier than those living in their own home (go figure). The last point aside, these types of communities are well worth your consideration in your retirement planning.
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