What do you think of a retirement community with an entrance fee of 100k

[Live And Learn]

With no close relatives we will be moving into a CCRC. The questions are where and when. I like the concept of not being kicked out if all those retirement calculators were wrong and we do in fact run out of money !

Once I ER going to visit a couple of the CCRCs that are nearby is going to be on my near term agenda so I can get a better feel.

 

[Brat]

Moving into a CCRC doesn't eliminate the value of being in the vicinity of family members who can assure that all is well. Friends are very important but most of them will be our age mates.

 

[bmcgonig]

DW and I have been investigating local CCRCs recently. One we really liked (about 700 residents) looked very nice. The cost of the cottage we liked (1700 sf) was about $230K plus about $3800 monthly for both of us. Both numbers are easily affordable for us. Included in the monthly fee was a $400 each meal credit. About 85% of the folks there live independently.

We are thinking that it would be a gift to our kids who would not have to worry about putting us in an assisted living place or memory loss home etc. in the future. Also they would not have to worry about selling our current home after we are gone as we would sell it after moving to the CCRC.

Being able to afford such a place seems to be a result of our long-time frugal living style. This must be what we saved for.

We plan on visiting other CRCCs in the area to see what their facilities look like. Most also seem to offer a free lunch so you can get a sense of the food quality etc.

Mickeyd, does the price go up if u have to go into assisted living or memory care?