G101
G105
G111G110G46
G84G104G101G32G65G114G109G121G32G68G105G115G116G97G102G102G32G70G111G117G110G100G97G116G105G111G110G32G38
G109G97G116
G87
G101
G146
G118
G110
G100
G101
G100
G33
G101
G32
G105
G110G102
G111G114
may recognize a percentage of both
the Entrance Fee and Monthly Fee
G101
G120
G112
G97
G32
G109G111G114
G102G111G114
G75
G110G111G108G108G119G111G111G100
G97G32G109G105G108G105G116G97G114G121G32G114G101G116G105G114G101G109G101G110G116G32G114G101G115G105G100G101G110G99G101
as a medical expense deduction.”
G116
G111G100G97G121G32
What if the CCRC I live in goes out
G67G97G108G108G32
of business? “CCRCs are governed
G67G97G114G105G110G103G32G102G111G114G32G116G104G101G32G77G105G108G105G116G97G114G121G32G70G97G109G105G108G121G32G115G105G110G99G101G32G49G57G54G50
by state regulation in 38 states,” says
Lauren Shaham, of the American
G101
G87G97G115G104G105G110G103G116G111G110G32G68G67G146G115G32G112G114G101G109G105G101G114G32G114G101G116G105G114G101G109G101G110G116
G101
G85G112G115G99G97G108G101G32G108G105G118G105G110G103G32G97G116G32G101G118G101G114G121G32G108G101G118G101G108G32G97G116 Association of Homes and Services
G114G101G115G105G100G101G110G99G101G32G102G111G114G32G99G97G114G101G101G114G32G109G105G108G105G116G97G114G121G32G111G102G102G105G99G101G114G115 G116G104G105G115G32G101G108G101G103G97G110G116G32G99G111G109G109G117G110G105G116G121G32G111G118G101G114G108G111G111G107G105G110G103
for the Aging. “Typically CCRCs are
G97G110G100G32G116G104G101G105G114G32G102G101G109G97G108G101G32G114G101G108G97G116G105G118G101G115 G49G54G32G119G111G111G100G101G100G32G97G110G100G32G108G97G110G100G115G99G97G112G101G100G32G97G99G114G101G115
classifi ed as an insurance model and
G101
G77G105G110G117G116G101G115G32G102G114G111G109G32G87G97G108G116G101G114G32G82G101G101G100G44G32G82G111G99G107 G101G67G97G108G108G32G116G111G100G97G121G32G116G111G32G114G101G115G101G114G118G101G32G121G111G117G114G32G102G117G116G117G114G101
are governed by the state department
G67G114G101G101G107G32G80G97G114G107G44G32G103G114G111G99G101G114G121G32G115G116G111G114G101G115G44G32G97G110G100G32G109G111G114G101 G104G111G109G101G32G97G116G32G75G110G111G108G108G119G111G111G100G33 of insurance or another entity.”
If I run out of money, will a CCRC
put me out on the street? Accord-
ing to Smith, many states require
endowment communities to main-
tain a benevolence fund to assist
residents who run out of money
through no fault of their own. Equi-
ty and lease communities most often
G40G50G48G50G41G32G53G52G49G32G45G32G48G49G52G57G32G101G32G32G40G56G48G48G41G32G53G52G49G32G45G32G52G50G53G53 do not offer this option.
G54G50G48G48G32G79G114G101G103G111G110G32G65G118G101G110G117G101G44G32G78G87G32G87G97G115G104G105G110G103G116G111G110G44G32G68G67G32G50G48G48G49G53 What if I just wait until the hous-
G119G119G119G46G97G114G109G121G100G105G115G116G97G102G102G46G111G114G103
ing market rebounds so I can afford a
CCRC? It’s not a good idea, advises
Smith, to hold out for past years’ in-
fl ated prices. “Don’t be greedy,” says
Smith. “Look at what you paid for it
when you bought it, and be grateful
for what you can get for it.” MO
Options Galore

Continuing-care communitieommunities
are just one available option
for retirementement living. There are
thousthousandsands of active-adult and
independent-living communitieommunities
across the nation — communi-ommuni-
ties that m mightight be the perfect fit
for som somee individuals or couples.
Look for an article comparingomparing re-
tirees’ experiences with all three
types of communitommunity in MO MOAA’s
Spring Retirementement Guide, avail-
able in the M Mararch 2009 issue of
MMilitaryilitary Officer. We’ll assess the
true costs of retirementement living —
including entrance fees, health
care costs, and refund options.
7 6 M I L I T A R Y O F F I C E R S E P T E M B E R 2 0 0 8
SeSept_retire_finance.indd Sec5:76pt_retire_finance.indd Sec5:76 88/12/08 9:42:45 PM/12/08 9:42:45 PM
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