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Articles related to focusing on healthy aging, prevention, mobility, cognition, nutrition, independence, and caregiving support.

5 min

Are assisted living care expenses tax-deductible?

According to the IRS, certain long-term care expenses may qualify as medical deductions, offering significant tax relief. Understanding the specific rules is crucial for families seeking to offset the high costs of senior housing. Let's explore the conditions under which assisted living care expenses can be tax-deductible.

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5 min

How do CCRCs make money? Unpacking the Finances of Continuing Care Retirement Communities

According to the National Investment Center for Seniors Housing & Care (NIC), the average entrance fee for a Continuing Care Retirement Community (CCRC) was approximately $402,000 in 2021, illustrating the significant upfront cost for residents. Understanding the complex revenue streams, including entrance and monthly fees, is crucial for anyone researching **how do CCRCs make money?**

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4 min

Are lifetime care advance payments tax-deductible? A guide for seniors and families

According to tax experts, a portion of certain lifetime care payments can be tax-deductible as a medical expense. Navigating the rules around whether **are lifetime care advance payments tax-deductible?** requires understanding the specific nature of your contract and applicable IRS guidelines to ensure you maximize your benefits.

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4 min

What Happens If You Run Out of Money in Old Age?

According to a 2024 National Council on Aging study, many older Americans lack sufficient resources to weather a financial shock like a health crisis. Understanding what happens if you run out of money in old age is vital for maintaining your security and peace of mind.

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5 min

What happens to unpaid nursing home bills?

According to the U.S. Census Bureau, a significant percentage of adults over 65 will require some form of long-term care, leading to potential financial strain. Understanding what happens to unpaid nursing home bills is crucial for planning and protecting your family's assets against aggressive debt collection practices.

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5 min

How much money do you need to live in a retirement home?

According to recent data, the national median monthly cost for assisted living is around $5,300, a significant figure illustrating the financial commitment involved. Deciding exactly **how much money do you need to live in a retirement home?** requires a careful review of various factors beyond the sticker price to ensure your long-term financial stability.

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4 min

Is downsizing right for everyone? Navigating the big decision for healthy aging

According to gerontology research, many older adults develop a strong emotional attachment to their homes, viewing them as reflections of their life stories. This deep connection makes the question, is downsizing right for everyone?, profoundly personal, going far beyond simple logistics and finances. Making the best decision requires a thorough, honest assessment of your unique circumstances.

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3 min

Can You Write Off Assisted Living Care on Taxes? A Guide to the Rules

According to a Genworth Cost of Care Survey, the average annual cost of assisted living can exceed $60,000, presenting a significant financial challenge. The good news is that under specific conditions, you can write off assisted living care on taxes as a medical expense, potentially providing substantial relief.

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5 min

Understanding How Much Does Senior Care Cost in the USA?

According to CareScout data, the national median cost for a private nursing home room reached $127,750 annually in 2024, highlighting the significant financial burden many families face. This guide breaks down the many variables that determine **how much does senior care cost in the USA**.

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