Monday, October 6, 2014

Considering a Continuing Care Retirement Community?

First of all, thanks for all the well wishes and prayers connected to our acceptance at Azalea Trace.  We are very blessed to be moving into this exceptional community.

I have been very open about our desire to move to a CCRC and I have received many strange looks, quizzical looks, looks of disdain, and questions about my sanity!  The last should have been know by anyone who has know me more than a week!  But the biggest question I get after; "Why would you do that?" is;  "Is that a place where they take ALL OF YOU MONEY!?"

The simple answer is NO.  But, they do have an entrance fee that is substantial.  Some CCRC's have lower Entrance Fees.  Some have NO entrance fee.  That's correct!   Some have no entrance fee.  However, in those communities, if and when you need assisted living or skilled nursing care, you pay at the going rate of that time.  Now, if you are just retiring, with no know major health issues, a no fee community would be good or even the best for you.  But if you are relatively sure you will need more care in the future than you or your spouse can provide on your own, a community that locks in your costs may be the answer.  It certain was for us.

Then, there is the tax break.  No, up front I will tell you I am not a tax attorney or a CPA.  You must check with the IRS, your attorney, and your CPA on any tax information.  However, my research tells me that a significant part of the entrance fee and the monthly living costs can be tax deductible as medical expenses because you are purchasing health care in advance.  Much like your premium on your medical insurance.  Now, most of us never reach the threshold of medical deduction, but with the entrance fee, you may.  Again, check with you people.

The other reason we are moving is peace of mind.  I cannot do home maintenance anymore.  Heck, I can't do personal maintenance anymore.  I need to wear my glasses to safely shave.  I am not permitted on ladders, after I cut the beam my ladder was leaning on at our Home Church in Virginia Beach!  Me, the saws all, the 2X10 beam, and a 20 foot extension ladder all came down at he same time!! Scared Pastor Fred to death!  So, you can see, home maintenance is not in my future.

Living at Azalea Trace provides all we ever wanted and more.  Is is costly.  Yes.  But God has provided for us richly.  He set this entire move up and I trust Him for our future.

I hope this answers some of the questions we have received.  We appreciate every one's concern for our well being.  And rest assured, we will be better off in Azalea Trace than anywhere else.  Come visit us after we move in and I am sure you will agree.

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