Retirement Considerations for the Snowbird
When it comes to retirement, freedom is everything. For many, that freedom is the reason why we retire in the first place: an opportunity to spend more time with the people we love, in the places we love, doing the things we love.
Unfortunately, though, for many “snowbirds”, visiting those places and leaving behind their primary home involves a lot of planning, which causes headaches along the way. Figuring out which friend, neighbor, or family member can check in on your place, and when, as well as scheduling any home upkeep – trying to put it all together can make your trip feel like a hassle rather than the getaway that it’s supposed to be.
However, with the rise of Continuing Care Retirement Communities (otherwise known as a CCRC or Life Plan Community), older adults now have a come-and-go option that relieves them of home ownership duties while also offering a number of lifestyle benefits as well.
Let’s walk through some of the reasons why settling at a CCRC is a great fit for traveling retirees:
The Lock and Leave Lifestyle
As you can probably gather from the name, a lock and leave lifestyle indicates when someone has a primary home that can be left behind for days, weeks, or even months without the usual worries that come with going out of town for an extended period. For those who prefer to live a more nomadic retirement lifestyle, that means avoiding things like frozen pipes, mail collection, overgrown grass, clogged gutters – you name it.
At a CCRC, home maintenance is included when you move in. That means whether you’re right here at home, away for the holidays, or exploring the coastal beaches with some friends, the normal upkeep that you’d have to account for is taken care of by a team of housekeepers and maintenance professionals. No more worrying about shoveling the driveway and sidewalk or wondering if you locked all the doors. Instead, you’ll have the assurance of 24/7 enhanced security and peace of mind as you’re out living life the way it was meant to be lived.
In fact, that’s one of the many added securities that come with moving to a CCRC; instead of worrying about the unknowns, including the future and the health burdens that may arise, residents are able to sleep soundly knowing that there is already a plan in place to protect them.
The Amenities and Services
Once you return from your adventures on the road, there’s a vibrant lifestyle waiting for you at home. That, of course, is thanks to the wide array of amenities and services that are available throughout the day, every day, at a Life Plan Community.
While amenities range from community to community, here’s some of what you can expect:
- A modern and fully equipped fitness center
- A heated swimming pool (often salt water)
- Multiple on-campus dining venues
- Group excursions to nearby hotspots, trails, parks, etc.
- Resident clubs and committees
- On-campus activities and educational classes/opportunities
- Community-sponsored transportation
And that’s normally just the start. That’s because most CCRC’s are designed to create an atmosphere that supports the residents to stay healthy by giving them everything they need to have an active, enjoyable retirement. So, while participation is not required, the opportunity to interact with your neighbors, join a yoga class, or host a barbecue right here on campus is always available.
The Financial Benefits
Who wouldn’t want an all-inclusive package for their retirement? For many, CCRCs sound too good to be true and, therefore, expensive. However, there are many financial advantages associated with moving into a CCRC, which is one of the reasons they’re becoming more popular than ever before.
For one, the monthly costs are roughly the same or less than what many pay to live in their current homes. This becomes especially true after you consider the added services, amenities, and home maintenance that’s provided year-round. After factoring in things like homeowners’ insurance, utility bills, property taxes, and home upkeep, most CCRC residents find that they’ll have more cash at the end of the month to do with as they please. That means more money in your pocket to travel, eat out, or even buy that special something you’ve had your eye on.
Plus, you’ll never have to worry about the costs that come with maintaining a home. Things like landscaping, irrigation, security – any exterior home maintenance is handled by the community itself. So, when you leave for the winter, you can do so knowing there’s no additional cost you’ll have to pay to make sure your home is in the same peak condition as it was when you left.
On top of all those saved costs, most states also offer tax advantages to those moving into a CCRC. This can come in the form of deductions on portions of your fees, or on your yearly tax returns. Due to the evolving nature of tax laws, be sure to speak to your tax advisor for details, as they vary from state to state.
The Bottom Line
Whether you’re looking for a retirement destination that offers you freedom, or a secure place to call home even when you’re not there, a Continuing Care Retirement Community has all that you need.
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Ready to learn more about a CCRC like The Ormsby, located here in Northern Kentucky? Contact us today at 1-859-331-1490, or RSVP to one of our upcoming events and learn about what a Priority Membership can do to reserve your place with us.
