Transforming your retirement dreams into reality may make the years ahead your most rewarding ones yet. It may even be the first time in your life that you’re able to create plans on your own terms, free from the obligations and responsibilities that came with earlier stages of life.
As you contemplate what these next years will look like, your lifestyle is probably a recurring theme — not just where you’ll live, but how you’ll live. For many active adults, the answer ultimately lands in one of two places: an age-restricted community that caters to an older adult lifestyle or a Continuing Care Retirement Community, sometimes called a LifePlan community, where lifestyle amenities are complemented by health services.
While the two community styles share many common features, there are some notable differences that could significantly impact how your golden years evolve and whether you’re financially prepared for whatever the future brings.
Two Distinct Styles of Senior Living
Although there are plenty of options when it comes to senior living, two types of communities tend to rise to the top for active, self-sufficient seniors who prioritize an engaging, resort-like retirement lifestyle.
One is the 55+ community, which you may hear called a variety of names, like active adult, age-restricted, lifestyle or resort-style community, among others. These communities have strict age requirements for residents and tend to focus heavily on lifestyle amenities that create a vacation resort-like experience.
Continuing Care Retirement Communities also emphasize lifestyle features, but their defining feature is access to a continuum of health care services that aren’t required now but may be needed at some point in the future.
What These Community Types Have in Common
Both CCRCs and resort-style independent living communities commonly provide amenities designed with seniors’ interests at the forefront.
They offer a welcoming setting for an active retirement lifestyle, with amenities such as fitness centers, indoor heated pools, and private putting greens. Organized social activities and a robust calendar of neighborhood events create opportunities for engagement and neighborly interaction.
Many also provide services like chef-led restaurant dining and exterior maintenance, including landscaping and snow or ice removal.
Where the Options Stand Apart
Despite the similarities, 55+ communities and Continuing Care Retirement Communities have some key differences.
CCRC residents are more likely to have access to services like housekeeping and interior maintenance, along with more formalized wellness programming to help residents achieve their goals.
However, some of the biggest distinctions are most evident in the long run. That’s because CCRCs include access to health services you may need at some point in the future.
Continuum of Care
Residents of a Continuing Care Retirement Community can count on priority access to care if their health changes with time. And, not only do they have access to the care they need, it’s within a familiar setting so there’s no need to move if you need additional support.
CCRCs generally offer a broad continuum of care. Active seniors typically enter the community as independent living residents, living autonomously just as they would in any other retirement community.
Then, depending on their future needs, other health services are available:
- Assisted living, which provides a helping hand for daily activities like bathing and grooming, medication management and other support that helps residents remain as independent as possible for as long as possible
- Memory support, tailored to the needs of older adults experiencing Alzheimer’s disease or other forms of dementia, with specialized therapies to boost brain function, improve communication and enhance residents’ quality of life
- Skilled nursing, with both long- and short-term care available from a skilled team of licensed professionals who can oversee chronic conditions or guide residents in their recovery from injury or illness
- Rehabilitation, which includes a range of inpatient and outpatient personalized therapies and services that give short-term residents the resources they need to heal after surgery, hospitalization or other circumstances
Some communities also offer additional levels of care and support, such as Forefront Living’s Empowered Living service, which provides in-home personal assistance with a care plan tailored to the resident’s specific needs, from meal prep and light housekeeping to companionship, socialization and more.
Choosing a Continuing Care Retirement Community means your future planning is done. You, and your family, have peace of mind knowing that whatever the future brings, that care will be available.
Financial Structure
Another major difference between the two community types is financial. A 55+ community typically involves a traditional real estate transaction. Your payments cover your rent or mortgage, and you’re responsible for property taxes, utilities and other ongoing expenses.
Conversely, a CCRC requires an entrance fee, and monthly fees are inclusive of nearly all of your living expenses, including dining plans, housekeeping, all major utilities, scheduled transportation and access to all of the community’s amenities.
Most CCRCs offer a variety of contract options that allow you to align your future care planning with your financial goals. For example, Presbyterian Village North offers six different contracts, with varying entrance fees, monthly service fees and entrance fee refundability, which may allow you to preserve assets for your heirs.
Your contract may also allow you to plan ahead by locking in rates for future care, and you may be able to take advantage of tax benefits for prepaid medical expenses.
What’s your plan for peace of mind?
As you can see, communities designed for active, engaged retirees share many features, but only one provides peace of mind and a plan that ensures your needs are covered if you have a health event or experience changes that require more support.
Presbyterian Village North is a warm, welcoming CCRC that invites seniors in North Dallas to embrace each day and enjoy senior living at its finest. It’s a community where seniors can enjoy the promise of an enriching, rewarding lifestyle for now, but also a commitment for additional care, if the need arises in the future.
Contact the community to schedule a tour or check out upcoming events designed to answer new residents’ questions.
Independent Living at Presbyterian Village North
We offer a unique blend of comfort, convenience and peace of mind with our non-profit senior living community set on 66 acres of beautifully landscaped grounds. Whether you prefer a spacious apartment or a freestanding home, the variety of beautiful residences ensures you’ll find the perfect space to call your own.
With chef-prepared dining and a wide range of amenities, including a fitness center, therapeutic aquatic center and walking paths, every day offers opportunities to stay active and engaged. Residents enjoy a vibrant, welcoming community, open to all faiths, with endless opportunities for connection and personal growth.
From our on-campus pharmacy services to a resident clinic, professional security 24/7and a wireless emergency call system in every residence, your well-being is always a top priority. With exceptional amenities like a performing arts theater, woodworking shop, dog park, putting green and salon services, every detail is designed to enrich your life.
For more information about how Presbyterian Village North can help you or your loved one thrive in retirement, please reach out by calling (214) 355-9000 to request a personal tour or more details today.