For seniors living on their savings built over a lifetime, moving to a continuing care retirement community (CCRC) may offer exactly the stability that they want and need. The devaluation of the housing market and concern over our economic instability may play an important role in this decision. In fact, choosing a CCRC can actually reduce financial risk for seniors.
A CCRC is a particular type of retirement community that offers several levels of health care on one campus.
- Independent Living - Also referred to as “residential living,” these freestanding units and independent living apartments are for residents who do not need personal assistance.
- Assisted Living - Also referred to as “extended living,” this serves those who require some help with the activities of daily living.
- Memory Care - Sometimes referred to as “special care,” these units provide for those suffering from Alzheimer or other memory impairing conditions that need attention that is more intensive.
- Skilled Nursing and Rehabilitation - This option provides both short and long-term acre in an on-campus healthcare center.
A CCRC is a financially wise decision for a number of reasons.