Five Tips to Help You Enjoy the Next Chapter of Life
By LuAnne Davis, RWC Vice President of Marketing and Development
- Don’t Wait! We love to welcome new residents at RWC, but people often think they can wait until they need Assisted Living or our Health Center. Because current residents are ensured they will always have a place at our Health Center should the need arise, we cannot accept new applicants who already need that level of care.
- Know the Facts. If you are considering a retirement community but don’t feel ready, you still should plan ahead. To qualify for a lifecare contract, you must be able to live independently and have no serious medical conditions. Many people don’t realize that RWC is an engaged, active senior living community. Our residents are coming to RWC at a much younger age than in the past. They are enjoying the good life without worry, and are able to do anything they want. And by the way, many have already cared for aging parents and do not want their children to have to do the same. Give your family the best gift you could ever give them — peace of mind.
- Get moving. We’ve had two record years for attracting new residents. Many people have recently sold their homes — locally and outside the area — since the housing market has improved. If you’re having difficulty, try using a different Realtor or consider staging your home. Don’t let your old home become an excuse for missing out on the guarantee of lifetime care.
- Lifecare costs less than you might think. Even if you have a great long-term care insurance policy, you should inquire about retirement living options. If you choose to stay in your home and need assistance, the average cost of personal care is approximately $21.50 an hour. The math is staggering, and even someone of substantial means might gasp at that monthly bill. Nights, weekends and holidays incur premium rates. Also, there are fewer caregivers available to help in times of high demand, especially as a growing contingent of baby boomers continues to need services.A year in a nursing facility may cost anywhere $80,000 to $100,000. Lifecare is a win-win situation — an entrance fee is paid based on the size of the house, cottage or apartment where you choose to live. You pay an all-inclusive monthly fee covering everything from meals and cleaning to maintenance and nursing care. It can be a very affordable option.
- There are tax advantages. Coming to RWC under a lifecare contract while you qualify helps you preserve your assets and receive a tax deduction of approximately 39 percent of your entrance fee (if you qualify) for prepaid medical expense. Additionally, 39 percent of your monthly fees may qualify for a prepaid medical deduction.A retirement community like RWC is the best way to enjoy a worry-free lifestyle, preserve assets and give your family peace of mind. As I approach the time when I begin looking at retirement options, hands-down, lifecare is the ONLY option for me. I won’t wait until it’s too late. There is way too much to enjoy at RWC. Just ask the people who live here.