As Americans start to live longer, well, they’re getting older. According to the Washington Post, Americans over 65 make up 15 percent of the current population. That number is projected to rise to 24 percent by 2060. But living longer also requires some strategic planning. Chances are that 5,000-square-foot dream home — not to mention the boat and garage full of toys — won’t seem so practical during your golden years. That’s why more seniors are decluttering and downsizing.
The prospect of getting older is a lot more attractive when you’re prepared. If you’re approaching or over age 65, it’s time to consider whether moving to a continuing care retirement community might be a smart move. In fact, there are myriad reasons to start thinking about it right now.
His name graces the 10-dollar bill and the hottest playbill on Broadway. Now, the nation’s first secretary of the Treasury is contributing to another legacy: becoming the new address for seniors planning to enjoy life to the fullest.
Continuing Care Retirement Communities (CCRCs), also known as Life Plan Communities, are growing in popularity as people realize the freedom and peace of mind that they offer. CCRCs differ from other retirement living options because they offer a continuum of housing and care, under an agreement that works similar to long-term care insurance. For that reason, most CCRCs require prospective residents to be in reasonably good health, determined by a medical exam completed prior to moving in.
Looking forward to your retirement is one thing but planning for it is quite another. Whatever your age, a little research goes a long way if you’re looking for the peace of mind of knowing your physical, social and healthcare needs will be met when you retire — and long after.
For many, the American Dream is all about owning your own home. But when kids leave the nest and retirement looms, that sprawling home can start to feel more like a burden than a dream. There are gutters to clean, lawns to be mowed, garages to organize – not to mention the daily household duties of cooking, cleaning and endless laundry.