In Time for the New Year, Report Dispels Myths about Continuing Care Retirement Communities

The New Year is a great time for older adults to become more proactive about how they want to spend retirement and where they want to live. Just in time for these resolutions, there's a new report available by Ken Dychtwald Ph.D., renowned gerontologist, psychologist, best-selling author, and CEO of Age Wave. The report, commissioned by Vi, helps sort out some common misperceptions about the senior living concept known as the continuing care retirement community (CCRC).

According to the report:

For those who think their current home will be the best possible place to live in their post-retirement years -- they should think again.

For those who think it's less expensive and more financially secure for them to stay in their current home -- think again.

For those who think CCRCs are filled with old people who are sick and dying -- once again, think again.

In his report, Dychtwald challenges "prevailing myths and misperceptions" like these and others. Titled "Five Myths and Realities of Continuing Care Retirement Communities," Age Wave's report and supporting research were commissioned by Vi, a developer, owner and operator of older adult living communities. Read the full report here.

CCRCs offer independent living with a combination of a private residence, services, amenities and care (for example, assisted living, memory support care and skilled nursing care).

"There are prevailing myths and misperceptions about CCRCs which do not match today's realities, and which can sometimes complicate or mislead decision-making," Dychtwald said. "As a result, people planning for retirement may be missing out on one of the better options available in senior living today."

Dychtwald said, "It is the reasons for and psychology behind these myths that can be the most revealing. Some of these myths arise from memories and images of old-fashioned retirement homes our parents or grandparents may have lived in. Others are grounded in deeper worries we may have regarding how to best optimize our health and independence in later life."

Meg Ostrom, Vi's senior vice president and project director said the purpose behind the research that went into the report is to help those looking at retirement choices to better understand the psychology that is often behind the misperceptions, and the reality of today's CCRC offerings.

"Today, deciding to move to a CCRC is typically a pro-active decision to have an active, fulfilling lifestyle while - at the same time - preparing for future care needs," Ostrom said. "This is not a reactive move triggered or forced by poor health or other event."

This fact directly challenges the common myth that CCRCs are filled with old people who are sick and dying.

"For some, the thought of visiting a CCRC conjures up images of sickness, decline and dying," Dychtwald said. "They resist moving to a CCRC because they view it as their 'final resting place,' or 'exit strategy.' The truth is, many people are choosing CCRCs to pursue opportunities for new learning, new activities and a 'new chapter in life.'"

About Vi
Vi, formerly Classic Residence by Hyatt, was founded in 1987 as a developer, owner and operator of older adult living communities. The company is dedicated to enriching the lives of older adults by providing high quality environments, services and care. Vi currently operates ten continuing care retirement communities (CCRCs) and one rental community under a family of brands nationwide.

About Age Wave
Founded in 1986, Age Wave is the nation's foremost thought leader on population aging and its business, social, healthcare, financial, workforce and cultural implications. Under the leadership of Founder/CEO Dr. Ken Dychtwald, Age Wave has developed a unique understanding of the body, mind, hopes and demands of new generations of maturing consumers and workers and their expectations, attitudes, hopes, and fears regarding retirement.