AUTHOR: Joe D'Alessandro on 6/22/2024 FIRST: Jonathan Clements on 6/22/2024 | RECENT: Fund Daddy on 5/9
Comments
My wife and I are in our early sixties. She wants to eventually move to a CRCC, but I would prefer to age in place, but am open to a CRCC. We think we have found a compromise with Willow Valley CRCC near Lancaster, PA. They have a Smart Life program (https://www.smartlifewv.org/) whereby you age in place in your home as long as you can, and when you have ONE or more life disabilities, you get as much in-home care as you need…meal prep, bathing, light housework, semi-skilled nursing, etc. It includes transportation to doctor appointments and stores. You get an assigned “advocate” who takes care of all services needed. It allows the spouse or child to remain as such and not become a caregiver. When you can no longer live in your home, you get immediate access to their skilled nursing home or memory care unit. Willow Valley is one of the top rated CRCCs in the country, and has strong financials. What does this cost: for a couple, it’s about a $100k one-time fee and about $1,500 per month. That monthly charge has historically gone up about 2% per year. For this you get in-home services and when needed, nursing or memory care in their facilities…no additional charges as you consume more services. There’s no elimination period and the logistics of care and coordination is covered. It’s basically long term care insurance…in-home and in-facility. You have to be in relatively good health to join. I understand I may never need a penny of service. On the other hand, my wife and I may need hundreds of thousands of dollars of services, or more! I think we are going to do it in 2027. We do have a child and his family living nearby, but I refuse to have either my wife or him be a caregiver, and I don’t want to do it for my wife. We can afford it. And the peace of mind that end-of-life needs are covered is well worth the cost.
My break-even was calculated at age 78 if I waited until age 67. I planned on waiting until age 70 to apply. However, I truly don’t “need” social security at all…a financial advisor said take it at 62 and spend it on travel. Yes! I never thought of that. And that’s exactly what both my wife and I are doing…taking the benefit at 62 and enjoying world travel when we are still in very good health.
I pre-ordered copies for both my sons and their families. I just finished reading it. Classic Clements; makes you think about life circumstances and to make positive changes. A writer and thinker like no other.
Having recently retired, I’m spending on experiences. I’m still frugal when purchasing food and clothing (love shopping second hand stores), but don’t think twice about spending money on family experiences. My one son lives in New Orleans and I will be buying 7 Saints / Packers tickets for a December game ($4k) in NOLA that brings my two sons and their families together (the other son and family and I live in Pennsylvania) to enjoy a shared love of football and have an early Christmas together with the grandkids. Another purchase I have made recently with no regrets? A prescription to Wegovy (the pill). Not covered by insurance of course and costs me $300 a month. Insurance is only willing to pay after you go into cardiac arrest. I have high cholesterol, had to start taking blood pressure medication in the last year, moved into the “pre-diabetic” zone, and was near an obese BMI. I started taking Wegovy in January and have lost 25 lbs. Ten more pounds to go and I’ll be “normal” weight and weigh as much as I did in high school. I have so much more energy, I drink less alcohol, and feel and look great. I know i’ll be taking that pill for life…best damn money I ever have, and will continue, to spend. And I get to save the insurance company future health care costs! LOL.
I haven’t signed up yet, but am seriously considering it. Will attend an information session soon and ask a lot of questions, and I really want to talk to someone who actually accesses benefits in-home. Assuming I get good answers, I’m fairly confident we will sign up. the peace of mind is the clincher.
Wealthy people complaining about paying their fair share while poor people being denied food because of SNAP cuts and thrown off health insurance (including independent business people and elderly under 65) because of Republicans…nice!
That's so true. I have two different state government defined benefit pensions (two different jobs), and while those payments are "guaranteed", the ability for those payouts to continue rely on the returns in those pension accounts and the willingness of taxpayers to cover shortfalls over time. If Trump sustains his insanity for the next 4 years, and a third term (haha), then ALL BETS ARE OFF FOR EVERYONE, INCLUDING SOCIAL SECURITY. Elections have consequences.
I didn't panic during the 2000 dot com bubble burst, the 2008 meltdown, and stayed all in the market, near 100% stock index, during the Trump 1 and Biden years. The returns have been fantastic. But Trump 2 felt different. A month ago, I shifted half my portfolio into cash. I just avoided $50k of loss. I just had a sixth sense that Trump would wreck the economy.
Comments
My wife and I are in our early sixties. She wants to eventually move to a CRCC, but I would prefer to age in place, but am open to a CRCC. We think we have found a compromise with Willow Valley CRCC near Lancaster, PA. They have a Smart Life program (https://www.smartlifewv.org/) whereby you age in place in your home as long as you can, and when you have ONE or more life disabilities, you get as much in-home care as you need…meal prep, bathing, light housework, semi-skilled nursing, etc. It includes transportation to doctor appointments and stores. You get an assigned “advocate” who takes care of all services needed. It allows the spouse or child to remain as such and not become a caregiver. When you can no longer live in your home, you get immediate access to their skilled nursing home or memory care unit. Willow Valley is one of the top rated CRCCs in the country, and has strong financials. What does this cost: for a couple, it’s about a $100k one-time fee and about $1,500 per month. That monthly charge has historically gone up about 2% per year. For this you get in-home services and when needed, nursing or memory care in their facilities…no additional charges as you consume more services. There’s no elimination period and the logistics of care and coordination is covered. It’s basically long term care insurance…in-home and in-facility. You have to be in relatively good health to join. I understand I may never need a penny of service. On the other hand, my wife and I may need hundreds of thousands of dollars of services, or more! I think we are going to do it in 2027. We do have a child and his family living nearby, but I refuse to have either my wife or him be a caregiver, and I don’t want to do it for my wife. We can afford it. And the peace of mind that end-of-life needs are covered is well worth the cost.
Post: Percentage that “age in place”
Link to comment from May 30, 2026
My break-even was calculated at age 78 if I waited until age 67. I planned on waiting until age 70 to apply. However, I truly don’t “need” social security at all…a financial advisor said take it at 62 and spend it on travel. Yes! I never thought of that. And that’s exactly what both my wife and I are doing…taking the benefit at 62 and enjoying world travel when we are still in very good health.
Post: Rethinking the “Right” Time for Social Security
Link to comment from May 30, 2026
I pre-ordered copies for both my sons and their families. I just finished reading it. Classic Clements; makes you think about life circumstances and to make positive changes. A writer and thinker like no other.
Post: Money and Me
Link to comment from May 30, 2026
Having recently retired, I’m spending on experiences. I’m still frugal when purchasing food and clothing (love shopping second hand stores), but don’t think twice about spending money on family experiences. My one son lives in New Orleans and I will be buying 7 Saints / Packers tickets for a December game ($4k) in NOLA that brings my two sons and their families together (the other son and family and I live in Pennsylvania) to enjoy a shared love of football and have an early Christmas together with the grandkids. Another purchase I have made recently with no regrets? A prescription to Wegovy (the pill). Not covered by insurance of course and costs me $300 a month. Insurance is only willing to pay after you go into cardiac arrest. I have high cholesterol, had to start taking blood pressure medication in the last year, moved into the “pre-diabetic” zone, and was near an obese BMI. I started taking Wegovy in January and have lost 25 lbs. Ten more pounds to go and I’ll be “normal” weight and weigh as much as I did in high school. I have so much more energy, I drink less alcohol, and feel and look great. I know i’ll be taking that pill for life…best damn money I ever have, and will continue, to spend. And I get to save the insurance company future health care costs! LOL.
Post: The Art of Spending Money
Link to comment from May 23, 2026
I haven’t signed up yet, but am seriously considering it. Will attend an information session soon and ask a lot of questions, and I really want to talk to someone who actually accesses benefits in-home. Assuming I get good answers, I’m fairly confident we will sign up. the peace of mind is the clincher.
Post: Long Term Care
Link to comment from May 9, 2026
Wealthy people complaining about paying their fair share while poor people being denied food because of SNAP cuts and thrown off health insurance (including independent business people and elderly under 65) because of Republicans…nice!
Post: Hidden Surcharge
Link to comment from April 27, 2026
MAGA math
Post: Tariffs and our retirement assets
Link to comment from April 6, 2025
That's so true. I have two different state government defined benefit pensions (two different jobs), and while those payments are "guaranteed", the ability for those payouts to continue rely on the returns in those pension accounts and the willingness of taxpayers to cover shortfalls over time. If Trump sustains his insanity for the next 4 years, and a third term (haha), then ALL BETS ARE OFF FOR EVERYONE, INCLUDING SOCIAL SECURITY. Elections have consequences.
Post: Tariffs and our retirement assets
Link to comment from April 6, 2025
It will all be good...after trumps 3rd term LOL
Post: Tariffs and our retirement assets
Link to comment from April 5, 2025
I didn't panic during the 2000 dot com bubble burst, the 2008 meltdown, and stayed all in the market, near 100% stock index, during the Trump 1 and Biden years. The returns have been fantastic. But Trump 2 felt different. A month ago, I shifted half my portfolio into cash. I just avoided $50k of loss. I just had a sixth sense that Trump would wreck the economy.
Post: Tariffs and our retirement assets
Link to comment from April 5, 2025