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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][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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CCRCs are the way to go---good goal to be able to get in.  If you can afford one, it's the best way to know you will be well taken care of.  Paid entry fee to get my parents in (they have enough to qualify minus the entry fee).  Best thing we ever did.  They are a distance from us and refused to move closer.  This way they are well taken care of and should they need more than independent living, it will seamlessly happen, and will not cost them (or us) a penny more---that's what the huge entry fee is for.  Best part is, even if they "run out of money", the CCRC will still continue service---you are guaranteed to live your life there and they do NOT touch your monthly SS.   Most who have run out of money are women over 95---there are 4 of them currently living there who pay nothing each month, husbands have long since died.  2 are still in independent living, the other 2 are in assisted living.

If you plan well it can happen---my parents are not wealthy.  But made it happen. [/quote]

Do you have any numbers to share?  Which CCRCs are you talking about?  What's the entrance fee? monthly cost? etc.[/quote]

I'm not the PP you quoted, but I posted earlier, naming Collington in Bowie and Riderwood in Silver Spring.

There's a chart on this page with some sample pricing for Collington:  https://collington.kendal.org/living-options/pricing-information/[/quote]

They don't detail the "entrance fee."  And you don't get all of that back.  So, the monthly fee looks low because it isn't including a portion for the entrance fee.

Also, I noticed that the service level for "memory care" does not include assistance for daily grooming and toileting.  That doesn't count as an amenity until you are in long term nursing care.  The details on the website are lacking and of course they want you to think it's a good deal...to get you in the door.

If it diunds too good to be true, it probably is.[/quote]

The entrance fees are on that chart.

My mom is currently in independent living there, so I don't yet have firsthand experience with the assisted living areas, but so far we are really happy with it.  She wasn't to the point of needing help every day, but she would have recurring incidents (for instance, a UTI causing momentary dementia) that were hard for me to keep tabs on alone.  Collington does things like wellness checks if you haven't opened your front door in 24 hours.  Not to mention she's made tons of friends, who check in on her as well.  The residents are well-educated (former) professionals for the most part, and there are tons of seminars and concerts and activities to keep people engaged.  Very happy with it so far.  [/quote]

If you have two parents sharing a 2bd, for example, would you have to pay just one entry fee for the unit and two service packages?  Or two entry fees even though sharing a unit?[/quote]That's a good question, and I'm sorry, I don't know the answer.[/quote]

For my parents (not in DCUM, but a bit outside), they paid [b]one entry fee ($450K)[/b] plus the 2nd person add on ($85K).  Then there is the monthly rent (~4500) for first person plus the 2nd person addition (~$1500).  For a 2bed/2bath, ~1200 sq ft.  The [b]entry fee "value back" declines by 2% each month for the first 49 months [/b](4 years)---so if you die/no longer live there, you get an amount refunded accordingly during that time.  After the 4 years, you get nothing returned.
  
If one person goes to nursing care, assisted living, or dementia care within the CCRC, the prices do not change drastically for the couple and the other gets to remain in the same 2 bed/2 bath.  If one person dies, the other gets to remain for just the $4.5K monthly rent, but can choose to downsize to a smaller unit to save $$ if desired.  The only price increase is for 3 meals/day cost that are provided in assisted living/nursing/dementia care, as in independent living you have $360/month per person which gives you easily dinner everyday and another 2-4 meals per week, possibly more depending which restaurant you choose to dine in.  So you likely will pay an extra $200-300/month for meals and that is it.  The added care levels is included in the entrance fee you paid (the $450K+ for the couple).  [/quote]

You are paying $9000/month ON TOP OF THE MONTHLY FEE (ie. the $9000/mo. is the 2% of the entry fee you don't get refunded each month that you are there).  That's on top of the $4500/mo rental fee.  So, those of you claiming there are places that cost "only" $3500-5000, are not being honest with the math.  You are paying $13,500 PER MONTH.

You have to include your pro-rata entrance fees in your monthly prices!

[b]So, again ... where are these places that cost just $3500-$5000 for full-service, full-care including grooming and toileting for a person with full-blown Alzheimers (i.e. non-verbal, doesn't recognize anyone, not capable of taking care of their personal or hygeine needs).  Where are these places?[/quote]

Here you go.  These are closer to 5k

https://www.avalonresidentialliving.com/

[/quote]

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