Housing Options for Aging Gracefully

Continuing care retirement communities

Key Takeaways

  • Most elderly folks want to remain independent and stay in their homes as long as possible.
  • Continuing care retirement communities are spreading rapidly as they extend an elderly person’s sense of independence within a safe, secure environment.
  • Continuing care retirement communities offer a wide variety of activities, services and care levels.
  • However, such facilities won’t take new residents once a person’s mental or physical state has deteriorated past a certain point—so it’s not a decision your family can delay indefinitely.

In this post, our third in a series about aging gracefully, we’ll explore various options for continuing care retirement communities. In our two previous posts, we talked about family conversations that need to be had, primarily by boomers who are charged with supporting elderly parents or relatives and we talked about the pros and cons of enabling the elderly to stay put at home. Again, the majority of elderly folks want the freedom and independence of staying at home. But there’s a third option: continuing care retirement communities, which have really morphed over the last couple of decades and have quite a bit to offer. Just remember that most continuing care communities will not accept new residents whose health has already deteriorated past a certain point—so you can’t wait on this decision indefinitely.

Four Types of Continuing Care Services

Continuing care retirement communities generally have four different services. The first is independent living, in which the elderly essentially maintain their current lifestyle, but within a safe, healthy environment. The second is assisted living, in which the elderly get help with selected aspects of their lives, but it’s not round-the-clock care. The third is memory care, and finally, there’s skilled nursing. It’s really a continuum of services spanning an elderly person’s later years that can be offered on a single campus. Most communities offer a wide range of activities, transportation, housekeeping, enclosed parking, meals, guest rooms for overnight stays and social events.

Of course, there are a wide variety of pricing options and financing plans to consider. You have those with high buy-ins, in which a large amount of money is required up front to buy a unit for your elderly parent or relative.  These typically have high residual fees to the family after the death of one’s spouse or family member. Then there are those with lower buy-ins that don’t have any residual at all. Of course, most communities require monthly fees that vary according to the level of services provided and how each resident (and his or her family) seeks to age gracefully. There are many different options. It’s just a matter of finding one that fits the lifestyle and financial arrangement that best suits your family’s needs.


To that end, we’re hosting an event in a few weeks that will walk you through the financial and non-financial issues related to aging gracefully. I think you and your family will find it highly worthwhile. For more information, click here or go to

Enjoy! Gary
800-480-7913 | 

We value your comments and opinions, but due to regulatory restrictions, we cannot accept comments directly onto our blog.  We welcome your comments via e-mail and look forward to hearing from you.


book img2

A Comprehensive Guide To Safeguarding Your Financial and Family Wealth.

Subscribe to our blog

Looking for Something?

Coyle Financial
Counsel Events

Recommended Reading

book img3
Download Free Chapter on
Lifelong Learning

Watch More Videos