{"id":2559,"date":"2021-09-19T19:04:00","date_gmt":"2021-09-19T19:04:00","guid":{"rendered":"https:\/\/eliseo.org\/?p=2559"},"modified":"2021-10-11T19:24:46","modified_gmt":"2021-10-11T19:24:46","slug":"questions-to-ask-when-comparing-retirement-communities","status":"publish","type":"post","link":"https:\/\/eliseo.org\/questions-to-ask-when-comparing-retirement-communities\/","title":{"rendered":"Questions to Ask When Comparing Retirement Communities"},"content":{"rendered":"\n

September 19th, 2021<\/p>\n\n\n\n

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Just as no two people\u2019s experiences in retirement are identical, no two senior living communities are created the same. <\/p>\n\n\n\n

Some are designed for the 55-plus community, others cater to people 65 and older. <\/p>\n\n\n\n

Some are all about the senior living amenities, while others emphasize the levels of continuing care they offer.<\/p>\n\n\n\n

And some are Continuing Care Retirement Communities (CCRC), also called Life Plan Communities, which may offer Life Care contracts or it may be a rental community where you pay month to month.<\/p>\n\n\n\n

If your head isn\u2019t spinning by now, just wait. You probably haven\u2019t even compared the cost of retirement communities in the Tacoma, Washington, area \u2014\u00a0and costs will vary considerably, depending on what\u00a0type of\u00a0senior living option<\/a> you choose.<\/p>\n\n\n\n

How to choose where to retire: <\/strong><\/p>\n\n\n\n

Not everyone wants to retire to Phoenix, known for its nearly year-round hot, sunny days. And not everyone can afford the cost of retirement in San Diego, considered one of the most expensive U.S. cities in which to retire. But where you retire is very important: Your retirement location plays a big role in how long your nest egg may last.<\/p>\n\n\n\n

So, as you consider where you want to retire, ask yourself these six important questions:<\/p>\n\n\n\n

  1. What\u2019s the cost of living?<\/strong> If you have a few target cities you\u2019re thinking about, make a list of all your basic living expenses, such as groceries, utilities, vehicle maintenance and housing costs. Compare what you\u2019re paying now versus what those bills would be in your target cities. Don\u2019t forget your discretionary spending for things like dining out at restaurants or bars with friends, attending concerts and movies or going shopping. These costs could be much higher or lower than what you\u2019re paying now.<\/li>
  2. What extras will I continue to enjoy and pay for? <\/strong>Maybe you\u2019re a big RVer \u2014 where will you safely store your recreational vehicle when you\u2019re not on the road? Perhaps you enjoy boating \u2014 where will you dock your boat between outings and store it during the offseason? If you\u2019re an avid golfer or tennis player, do you plan to join a private or public club? All of these are additional expenses that come with different costs, depending on your location.<\/li>
  3. What quality of life do I want?<\/strong> You may have always wanted to retire to a loft in an urban core where you\u2019re in the heart of the action and you can walk to all the nightlife, but you find you still have to drive to grocery stores. You may imagine yourself in a farmhouse on several acres of land with rolling hills and a big pond where you can gaze at the stars every night. However, you didn\u2019t think about being so far away from  town where there are people your age with whom you could build new friendships. Think about your quality of life \u2014 if you\u2019re not really into nightlife anymore, is the urban core right for you?<\/li>
  4. What will my tax burden be like?<\/strong> Nine states \u2014 Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington and Wyoming \u2014 do not have a state income tax. Five states \u2014 Alaska, Delaware, Montana, New Hampshire and Oregon \u2014 have no state sales tax. And 37 states don\u2019t tax Social Security. While your tax burden shouldn\u2019t solely determine which state you choose to retire in, your tax situation may help tip the scales in one direction or another.<\/li>
  5. Do I like the cold, the heat, the sun or the seasons? <\/strong>Again, not everyone dreams of a retirement in the Sun Belt. Maybe you\u2019re more fond of the Rust Belt, the Corn Belt or the Cotton Belt (these are all real regions of the U.S.). Ask yourself what weather you want to live with. If you don\u2019t mind occasional snowstorms, tornado warnings or humid summers, the Midwest may be for you. If you\u2019re not scared of the threat of hurricanes, the East Coast may be ideal. As our climate changes, many people are reevaluating where they want to spend their retirement. The almost year-round fire season on the West Coast, for example, has encouraged some to move out of California and Oregon. Other Americans are moving away from the coasts due to constant flooding issues. Believe it or not, the main driver is the high cost of homeowners insurance and coastal property insurance. <\/li>
  6. Am I planning to be a car or air traveler?<\/strong> Miami is a beautiful place to live, but it takes more than five hours by car just to reach the Florida state line to the north. On the other hand, the more centrally located states of Tennessee and Missouri each border eight other states, making it easy to reach another state in an hour or two. If you\u2019re planning to visit your family no matter where you retire, think about how easily you can get there by car. If you\u2019re more of a frequent flyer, some states don\u2019t have easily accessible international airports, meaning you\u2019ll have to drive several hours just to get to the airport to take a flight.<\/li><\/ol>\n\n\n\n

    How to choose a retirement community: <\/strong><\/p>\n\n\n\n

    So now you\u2019ve narrowed down your list of cities and states where you\u2019d consider retiring. Your next task is deciding what type of senior living community will fit your needs best, both today and in the future.<\/p>\n\n\n\n

    As you start comparing your senior living options, here are five questions you absolutely have to ask of each community.<\/p>\n\n\n\n

    1. How much does this community cost? <\/strong>Don\u2019t feel bad about going right to the price tag. You\u2019ll want to know what you can afford before you fall in love with a community. <\/li><\/ol>\n\n\n\n