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[quote=Anonymous][quote=Anonymous][quote=Anonymous]My plan for when I hit retirement is to buy a small unit with lifetime continuing care in a retirement complex and a second house or condo somewhere either for winters (six months in Florida) or coastal New England (five months in spring to fall). When the time comes, I can sell the second property and upgrade the unit to a bigger 2-bedroom and live there full time. But I will have a foot in the door so they can't kick me out if I suddenly start declining, physically or cognitively. I am single, will always be single so no spouse to help take care of me. I want the guarantee of lifetime care no matter what happens. Yes, expensive, but I can make it happen. This plan is based on what good friends of my parents have done.

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Be careful and do your research. These types of places are notorious for kicking out people once they need more extensive care. My idiot brother wanted to put my idiot mother in once of these place when she was still younger and very able. They both thought they were sooo smart and gaming the system for her to get free high-end care for the rest of her life. The rest of us siblings had to talk them out of this. They will take every last cent you own before they give you anything free, then kick you out without a penny to your name based on a claim that they can't meet your specific medical needs. Plus you still have to pay other living expenses outside of what they provide. They're businesses; not philanthropists.

If you're still able enough to live alone for half the year, then you'll go broke paying for this assisted living place before you ever need the extensive care.[/quote]

Do your research, there are reputable CCRCs.  My parents know of 4 in their 90s widows in theirs who are no longer paying "rent" as they have drained their resources and the CCRC does not consider SS a "resource" to touch.  Two are still in independent living, 1 is in assisted and one in dementia care.  They have all been that way for at least 1 year, one over 3 years.  They will not be kicked out, that is what the large entrance fee is for--it's calculated so statistically they still make money overall.  Some they loose, most they probably make money, since most people are in anything more than independent live-ing for less than 2 years (statistically).  Invest the $400K+ they are getting from all new entrants, and the interest/gains alone is likely paying for majority of people in "elevated care".  I'm certain they review their costs yearly and the entrance fee is adjusted accordingly to ensure they are still making money.

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