If you are a member of the sales and marketing team at your [independent living or life plan] retirement community, did you know that you are in the retirement planning business? You may not think so because, for most people, the phrase “retirement planning” translates to “financial planning." But I would encourage you to broaden your scope of what retirement planning includes.
“What’s old is new again,” or so the saying goes. With senior living or retirement communities, whichever term you prefer, the model is shifting ever so slightly depending on what your community is, or what you offer the senior today. It may even depend on where your senior community is located; after all, geography can often play a part in the senior community profile.
It’s no secret that long-term care is expensive, especially as you get older. Whether you’re injured or diagnosed with a serious illness or chronic condition, an unexpected health change can drain your savings. Many people believe that Medicare will pay for long-term care, but that is simply not the case.