Planning Beginner: Where to Live in Retirement

Test your knowledge

Choose wisely. There is only one correct answer to each question.

Keep studying!

Review your answers below to learn more.

Which of the following is NOT true regarding retirement residential options?

Your current and future health should be factored into your decision on retirement living arrangements

Retirement residential options need not be a source of much concern, since both state and federal governments have ombudsmen responsible for making these arrangements for you on a personalized basis

Despite your current good health, the likelihood is that totally independent living will eventually not be possible

"Continuing care retirement communities" (CCRCs) are a relatively new option that allow you to "age in place" without the need for a move under difficult circumstances.

Retirement residential options need not be a source of much concern, since both state and federal governments have ombudsmen responsible for making these arrangements for you on a personalized basis. Nothing could be further from the truth.

"55+ retirement communities" _______.

Are social places that encourage interaction among residents

Provide little in the way of activities or lifestyle orientation

Are great for those who've had their children late in life

Have some of the best elementary schools in the nation

Are social places that encourage interaction among residents. This is the central focus of these communities; they are not oriented toward young families.

Two crucial factors that most people consider in choosing a retirement location are _______.

The potential for property appreciation and proximity to good elementary schools

Proximity to both good high schools and elementary schools

Proximity to golf and water sports

The climate they prefer and proximity to their family and friends

The climate they prefer and proximity to their family and friends. These factors are not universal, but are most common, and often are mutually exclusive.

Which of the following is true of "continuing care retirement communities" (CCRCs)?

They allow you to "age in place"

CCRCs are very appealing because many offer a range of amenities and activities that make them desirable places to live, irrespective of health concerns

CCRCs offer a range of care and medical services to accommodate your needs as these needs change with age

All of the above

All of the above. For all these reasons, CCRCs seem to provide the best of all options for many folks who can afford them.

Many 55+ communities (also called "active adult developments") are free of the high tax burden that is necessary to fund the schools necessary in younger-family communities.

True

False

True. This is a big advantage of these communities.