How Do You Understand Retirement Living Lingo?
Whether you have just retired yesterday or 15 years ago you may be at a point where you are ready to sell your home and move to a retirement community. But how do you know which one to choose or what all those confusing “terms” and payment plans mean? Which one has what YOU need? First understand that there are many different kinds of retirement living. There are CCRC’s which stand for Continuing Care Retirement Communities- these offer all levels of care including Independent Living (you live on your own and care for yourself), Assisted Living/Personal Care (you have assistance from staff with daily tasks such as medication, bathing, dressing, sometimes feeding), and Skilled Nursing (you require care 24 hours a day, 7 days a week from a Registered Nurse and trained nursing staff). These services are all on one campus at a CCRC. Then there are Retirement Communities that offer nothing but homes or condos inside a gated area that are geared towards seniors. There are also apartment buil
