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After forking over $840,000 to live in a New York continuing care retirement community following the sale of their home three years ago, Bob Curtis, 87, and his wife Sandy face losing a huge chunk ...
For many Americans who count on Social Security as the foundation of retirement income, it’s next to impossible to make do. Social Security retirement benefits averaged $1,862 per month in 2024 ...
Reduce your gross adjusted income. It’s possible to get below those $25,000 and $32,000 thresholds if you’re creative — legally, of course — in how you approach deductions.
A continuing care retirement community (CCRC), [1] [2] sometimes known as a life plan community, is a type of retirement community in the U.S. where a continuum of aging care needs—from independent living, assisted living, and skilled nursing care—can all be met within the community. [3]
While new retirement communities have developed in various areas of the United States, they are largely marketed to older adults who are financially secure. Lower income retirement communities are rare except for government subsidized housing, which neglects a large proportion of older adults who have fewer financial resources. [11]
According to the most recent data from the Bureau of Labor Statistics, the average retiree spends $52,141 per year, which RetireGuide says is about 80% of the $66,928 the average person in the ...