Searching for a place to Retire? Here's what to look for...
Dr. Chip Zimmer - Zimmer Seniors Marketing Group
 Every day, seniors face the dilemma: What should I do when I retire? There are so many choices that some sort of roadmap is necessary. Here are nine key tips to consider:
1. Do an honest self-analysis. Take an honest look at your lifestyle, health, family, finances and interests. Decide what is important to you and, just as importantly, what isn’t. Look at what type of housing you prefer. How much room do you really need? What kind of climate do you like? Where do your kids and grandchildren live? How close do you want to be? What shape are your finances in? What is your monthly income? What are your monthly expenses? What is the status of your health? Health of your spouse? Once these questions are answered, then you can take the next step in determining where to retire.
2. Location? Most folks either pack up an leave their hometown altogether or stay put. There is very little in between. This is often determined by the location of children and grandchildren or sometimes, simply climatic preferences. But the first step is to determine in what general area you wish to live.
3. Type of home? Now that you’ve determined the general location, now you need to decide if you want to move into a regular subdivision or apartment, of if you’d prefer the benefits of moving into some sort of senior community. These can range from an active adult community, usually restricted to people over 55, but offering no services to an actual retirement community which offers the full continuum of care, if needed.
4. Continuing Care Retirement Community (CCRC)? Most of these are non-profit communities owned and operated by a religious organization. They all offer independent living, often a wide variety of options from single family cottages to duplexes to townhouses and apartments. In other parts of the community, a multi-care leveled assisted living community typically exists in the event that you may someday need some help with activities of daily living (ADL’s). Finally, a CCRC also offers a nursing home community, should you ever require even more care than is provided with assisted living. Special dementia or Alzheimer’s units are often available as well.
5. Cost? Whichever option you choose, cost usually plays an important role. There are a variety of payment options and contract options, depending upon your needs. Check them all out to decide which is best for you. In most CCRC’s, you will be required to pay a significant “entrance fee,” which is the financial equivalent of purchasing a home. This can range from as little as $50,000 to over $300,000 depending upon the community, the size and type of home you wish to have. There is usually a limited refund option, should you decide that you don’t like it and want to move out. Additionally, a monthly fee is normal, often ranging from $1000 to $3000 per month, again depending upon size of the home, community, etc. For this, you have access to all of the programs and amenities available at the community. Should you need to move into assisted living or nursing, you are usually guaranteed a place, although the monthly fee will often change, depending upon the amount of care required. Be sure to have your lawyer or accountant review the contract before signing.
6. Which CCRC? Assuming, you have determined that a CCRC is right for you, now you need to figure out which one to select. First check out if they are CCAC accredited. This is the Continuing Care Accreditation Commission of the American Association of Homes and Services for the Aging, the only accrediting body in the USA. This is a good place to start. Yes, there are many terrific communities that are not CCAC accredited, however, this stamp of approval gives you a good level of confidence from which to begin. Check with SeniorCompass.com to determine those in your area and pick out those of interest. Check their websites, select at least three and visit them each.
7. Religious Affiliation? Most CCRC’s are faith based. However, few if any require residents to be members of any specific denomination. However, choose one who’s mission and beliefs are similar to yours, you’ll probably be happier and these will tend to attract other residents with similar beliefs. Find out what type of church services are offered and when. Are there other spiritual activities offered in which you are interested?
8. Your Tours. Stop by at each of your three choices and take an official tour. Collect all the materials they have available. Eat at their dining area. Look around. See if people are active and friendly. Are they interacting in the various commons areas? Do they seem happy? Be sure to ask to visit the assisted living, dementia and nursing communities as well. Check for smells, activity and a aura of happiness. Once completed, come back again, unofficially, and wander around. Talk to other residents and ask them why they chose this community and if they like it. Residents will usually tell the unabridged truth! They won’t pull any punches! Ask them!
9. Availability? Once you’ve visited each community both officially and unofficially, you ought to be pretty clear on if a CCRC retirement is right for you and which one is the best fit. Once decided, you’ll need to sign on the dotted line and give them a deposit (generally 10%). But first, find out how soon your home of choice will be available! Popular styles and units often have long waiting lists, so be sure to check these out during your tour, so you don’t get your hopes up only to have to wait 5 years to move in! Alternatively, you may wish to make these decisions now, knowing that you won’t be ready to move in for 5 years or so, thus placing your name on the waiting list. Be sure to find out how the waiting list works. How and when you will be contacted and how much time you have to move in once your home is ready.
Choosing a retirement home is a big step. You need to be sure that the one you select is right for both you as well as your spouse for the long haul. Your children may or may not have a role in your decision, but they certainly will be impacted by what you decide. Remember, this is a new and exciting chapter in your life. Enjoy it, live it to the fullest!
Chip Zimmer is the Senior Consultant for Zimmer Seniors Marketing Group.
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