As people approach their retirement years, many begin to think about the future and what type of living arrangements they would like to have. For some, the thought of moving into a Life Plan Community—also known as a Continuing Care Retirement Community (CCRC)—is an inviting option. A CCRC offers a range of Independent Living services and amenities to older adults, as well as a continuum of health care for peace of mind.
At Montereau, we are here to help you weigh your decisions and answer any questions you may have. One of our most frequently asked questions is, “How much does it cost to live in a CCRC, and can I afford it?” To help you understand your options, here are three benefits to moving into a Life Plan Community—and some financial considerations to help you plan ahead.
1. Take charge of your retirement.
The first major benefit of a CCRC is the freedom you will enjoy, which is priceless as we age. When you move into our Independent Living neighborhood, you have choice and control over your living arrangements. From selecting your floor plan among our Garden Homes and Apartments, to living each day on your own terms and your own schedule, Montereau is here to help you maximize your independence at every stage of your retirement.
Because we are a maintenance-free community, your time is your own to explore hobbies on the Montereau campus. From wellness to watercolors, everything you need for a full and vibrant life is just steps from your front door. Plus, you can always venture out to Tulsa and beyond for meals out, shopping, concerts, tours—the world is yours! You can be as active and engaged as you like, maintaining independence while still having access to necessary care and support services.
Finally, you have the freedom to age in place. If your health needs ever change, your children or other loved ones won’t have to scramble to find care. At Montereau, around-the-clock care is right here!
2. CCRCs are more affordable than you think.
When considering CCRCs, it's important to make an apples-to-apples financial comparison to your current living arrangements. This means looking at the total costs associated with each CCRC and what services are included in the monthly fee.
For example, at Montereau, you won’t need to budget for a new roof, an upgraded HVAC system, a broken water heater, termite damage or any of other unexpected expenses that arise in older homes. Also, you’ll never have to pull out the leaf blower or get on a ladder again. That means you will never have to pay the cost of unexpected repairs—or a surprise medical bill from an accident with your Christmas decorations.
When you factor in the costs of home upkeep and repairs, landscaping, maintenance, utilities, housekeeping and other Montereau services, you will find that the monthly costs of a CCRC are surprisingly affordable!
3. Secure predictable costs for your future.
One of the strongest benefits of CCRCs is that they typically offer predictable, set costs. Unlike traditional retirement living arrangements where costs may vary month to month, CCRCs often have a set monthly fee that includes a variety of services and amenities. These fees may cover things like meals, housekeeping, maintenance, transportation and more.
Typically, when you move to a CCRC such as Montereau, you will pay an upfront entrance fee (often refundable or partially refundable based on what you decide in the future), but this fee secures a predictable monthly rate. Because we are a Life Care community, moving into Montereau’s Independent Living community earns you guaranteed access to our supportive care neighborhoods—Assisted Living, Memory Care and Skilled Care.
In addition to guaranteed access, LifeCare secures a rate for our health care neighborhoods that is significantly below market cost. In other words, if you move from Independent Living to Assisted Living, your Assisted Living rates will be much lower than if you moved directly into our health care neighborhood. This offers tremendous peace of mind for you and your loved ones. Once you are here, you know you will be taken care of.
Contact Montereau to Learn More
To learn more about our maintenance-free services, our abundant lifestyle amenities, and the priceless peace of mind that comes from joining a CCRC, we invite you to schedule a tour or consultation. With a little planning, the retirement of a lifetime is in your future—and we are here to help you every step of the way. Contact us to get started!
Tuesday, March 21, 2023
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