Just running a back-of-the-envelope comparison of our living costs vs the figures you supplied.
Assume you live 20 more years: Then your $350K becomes $1,500/month added to your $7000. Opportunity cost (I'll say 5% to be conservative) on $350 is about $1500/month. Add it up and that's about $10K/month.
I just wanted to compare that to us if we stayed in place and paid for help (medical - visiting nurse, etc.)
Our condo might sell for as much as 700K (I can't even believe I'm saying that.
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Opportunity cost at 5% would be about $3000/month.
HOA dues: Round up to $1000/month
Internal maintenance - negligible - less than $100/mo
Utilities - negligible.
Food (because a CCRC feeds you for your fees, I think) $700/mo
Total: $4700 (let's round to $5000/month)
So, that would give us $5K/month to hire "visiting nurses" or some such to stop by with shots or therapy or vitals, etc. I think that could be done.
Now, as far as amenities: Probably no comparison to what a CCRC has (I've seen the inside of the best CCRC on our Island. It is fabulous and has all kinds of things to do.) Would I pay $5K/month for those amenities. Probably not. If I were there anyway, would I use them and appreciate them. Absolutely.
But my point is we really like it where we are and would like to age in place as long as possible. We're rolling the dice that neither of us has to go to a "facility" (nursing or whatever.) IF we do, we do have pretty good LTCI (at least 3 years - maybe 4.) And our LTCI has provision for home care (of course, it's pretty restrictive - meaning hard to qualify, I'm sure.)
I throw all this out NOT as any criticism for those seeking to live in a CCRC. As I said, I've visited a couple and they look wonderful. My impression of the staff is that they are caring and capable. The food is wonderful. I would say they are like living in a first class hotel - with even more amenities.
SO, please don't take my comparison the wrong way. I'm just trying (for myself) to figure the odds and costs and perhaps some internal* things. Let me know if I'm off base on costs or otherwise in my thinking.
*internal things: I guess I think that when I move into a CCRC or even an Assisted Living place, that's sorta like saying "This is it. The last stop before the grave yard." I know that's silly, but I'm trying to be honest here. I think it plays with my head when I think about giving up our wonderful condo and moving to "the final destination" so to speak.
Again, please assume best motives on my part and no criticism. I applaud those who have found a CCRC that meets their needs and they can afford. I hope you all have a joyous time in your new homes.