Unique retirement plans

[kaytieeldr]

I thought, and I admit I really am not that into it to do research at the moment, that many hotels impose a maximum number of nights you can stay in a row because after a certain number of times you become a resident. That may bring up a whole host of legal issues.

I am sure there are ways to work around these exceptions, but not completely sure it is as simple as it seems.

On every cruise I’ve been on, there seems to be someone who has been on the ship for months, I don’t think they care.

Do they even let you stay at a hotel that long? I thought they kicked you out after a certain amount of time, so that the hotel doesn't become a lodging house and then can't evict you for nonpayment.

Once you exceed 30 consecutive nights in a hotel, you are considered acrtenant and both you and the hotel are subject to different laws and restrictions than a typical hotel guest. I'm sure there are exemptions for extended stay properties, but i don't feel like searching tonight.

the cruise ship j lady probably chose not to worry about home maintenance or repair, or lawnmowing, or laundry, or propert6 taxes, or car insurance, etc., but sees no need for a retirement community. I know there's at least one cruise ship that's entirely residential.

 

[FairestOfThemAll37]

There are also some hotels that have residences. It’s usually a separate building off the main hotel with shared amenities but the residences have more condo facilities like washer/dryer and small kitchens.

I very much want to live in a hotel residence (luckily S. Florida has a fair few), but hopefully well before retirement lol.

 

[kamik86]

I agree this type of plan only works when reasonably healthy.

On a cruise someone will do all the cooking and cleaning so you don't have to be able to do that (although she dances so she is probably able to but just doesn't have to now) Someone checks in your room twice a day so if something happened to her they would know quickly. It is more like an assisted living center.

I compare it to one step further care then where my grandmother lived when I was a kid. She only lived in a nursing home when she got really sick because she lived in an apartment that had meals downstairs everyone could go to but had a kitchen she could cook in. There were alarm strings in a few places of the apartment that if pulled someone would come check on her. One in the bathroom, one near her bed for example. However other then that she was mostly left alone.

 

[John VN]

....................... I know there's at least one cruise ship that's entirely residential.

https://aboardtheworld.com/

 

[DisneyOma]

I agree this type of plan only works when reasonably healthy.

On a cruise someone will do all the cooking and cleaning so you don't have to be able to do that (although she dances so she is probably able to but just doesn't have to now) Someone checks in your room twice a day so if something happened to her they would know quickly. It is more like an assisted living center.

I compare it to one step further care then where my grandmother lived when I was a kid. She only lived in a nursing home when she got really sick because she lived in an apartment that had meals downstairs everyone could go to but had a kitchen she could cook in. There were alarm strings in a few places of the apartment that if pulled someone would come check on her. One in the bathroom, one near her bed for example. However other then that she was mostly left alone.

I wonder what plans the cruise company has for when she is unable to take care of herself, if that happens? Or what happens if she becomes ill? For regular guests, they'd get them care and then help them off the ship. But if she's in some foreign country and gets really ill, and they put her ashore, they wouldn't be able to wait for her. And then she'd have to get better and finally return to the ship (or not). If it's past the end of the cruise, what do they do with all her stuff? I know the article said she paid 6 months in advance, but if she were hospitalized for 7 months, where would they dump her stuff? Or would they hold it for her?

 

[mjkacmom]

I wonder what plans the cruise company has for when she is unable to take care of herself, if that happens? Or what happens if she becomes ill? For regular guests, they'd get them care and then help them off the ship. But if she's in some foreign country and gets really ill, and they put her ashore, they wouldn't be able to wait for her. And then she'd have to get better and finally return to the ship (or not). If it's past the end of the cruise, what do they do with all her stuff? I know the article said she paid 6 months in advance, but if she were hospitalized for 7 months, where would they dump her stuff? Or would they hold it for her?

They would remove her from the ship to get medical care, and leave as scheduled, not sure about her belongings. I would hope she’d have good travel insurance.

 

[ronandannette]

I wonder what plans the cruise company has for when she is unable to take care of herself, if that happens? Or what happens if she becomes ill? For regular guests, they'd get them care and then help them off the ship. But if she's in some foreign country and gets really ill, and they put her ashore, they wouldn't be able to wait for her. And then she'd have to get better and finally return to the ship (or not). If it's past the end of the cruise, what do they do with all her stuff? I know the article said she paid 6 months in advance, but if she were hospitalized for 7 months, where would they dump her stuff? Or would they hold it for her?

Being as they are not in any sort of care-giving role nor do they have any responsibility towards her, putting her ashore would be to limit the cruise line’s own liability and completely at their discretion. All cruise contracts have clauses that spell this out. One would hope that this lady has next-of-kin somewhere standing by to deal with this sort of contingency and the fact that she is apparently of considerable means would also make a difference to what services she could quickly access.

I’ve heard of people (nobody travelling alone though) who have been put ashore for medical reasons. Crew is assigned to quickly help them pack but they must take all their belongings when they vacate. What they do with them is their own problem. There is also no provision in a standard cruise contract for a refund of the fare in this circumstance - that’s what insurance is for. Her 6-month pre-paid fare would likely be subject to all the applicable cancellation fees.

 

[DisneyOma]

I’ve heard of people (nobody travelling alone though) who have been put ashore for medical reasons. Crew is assigned to quickly help them pack but they must take all their belongings when they vacate. What they do with them is their own problem.

This is what I was wondering about - since she stays there year round, would they keep all her belongings? It's not just cruise stuff for her, it's a lot of daily stuff, I believe. They've altered her cabin to make it more like an apartment. If she goes ashore for medical reasons, I would think she'd have plans to come back, but if she doesn't, and doesn't have a next-of-kin, I volunteer to be the person to pack up her stuff (it might take me a week of cruising to do that though ). I do wish her well, sounds like she's had and has the dream life!

 

[ronandannette]

This is what I was wondering about - since she stays there year round, would they keep all her belongings? It's not just cruise stuff for her, it's a lot of daily stuff, I believe. They've altered her cabin to make it more like an apartment. If she goes ashore for medical reasons, I would think she'd have plans to come back, but if she doesn't, and doesn't have a next-of-kin, I volunteer to be the person to pack up her stuff (it might take me a week of cruising to do that though ). I do wish her well, sounds like she's had and has the dream life!

It's easy at this stage of my life to envy the idea of a permanent vacation but in reality for me it sounds a little sad and lonely. Given our circumstances we're looking at a pretty modest lifestyle during retirement but I do image it as being filled with much more time for family and friends than we have now, and much more time to be involved in our community and church. I wouldn't just take off and leave everyone and everything behind, even if I could.

I'm with you though in wishing her well. I'm super-curious about the details of arrangement. What itineraries does she sail? Does she have a drink package? Does the smoke smell from the casino bother her? Does she get off the ship in Nassau? Is the blow-dryer in her cabin adequate? What are her views on chair hogs? You know, all the things that obsess regular once-a-year cruisers.

 

[tvguy]

We have several senior communities here that offer everything from senior apartments up to full skilled nursing care on the same site. You move through the various levels of care are you need to. There is a one time cost of like $250,000. The one closest to me has 400 residents, so there are apparently enough people out there who can fork over the cash for that. I think most are folks who sell their homes and use the money to buy into what will be their final residence.

 

[mrodgers]

My retirement home will be a box in the ground. Won't cost me a thing.

 

[disykat]

We have several senior communities here that offer everything from senior apartments up to full skilled nursing care on the same site. You move through the various levels of care are you need to. There is a one time cost of like $250,000. The one closest to me has 400 residents, so there are apparently enough people out there who can fork over the cash for that. I think most are folks who sell their homes and use the money to buy into what will be their final residence.

I'm surprised by this. I remember in the 80's when my grandparents went into senior communities they had to buy in. When we started looking for my parents, they were all rent by month. No deposit, no lease agreement, simply a month to month fee. I was so glad it had changed. I wonder if this differs by geographical region?

 

[tvguy]

I'm surprised by this. I remember in the 80's when my grandparents went into senior communities they had to buy in. When we started looking for my parents, they were all rent by month. No deposit, no lease agreement, simply a month to month fee. I was so glad it had changed. I wonder if this differs by geographical region?

Just checked their website, looks like month to month is an option too.

 

[1GoldenSun]

We have several senior communities here that offer everything from senior apartments up to full skilled nursing care on the same site. You move through the various levels of care are you need to. There is a one time cost of like $250,000. The one closest to me has 400 residents, so there are apparently enough people out there who can fork over the cash for that. I think most are folks who sell their homes and use the money to buy into what will be their final residence.

I've never heard of this and it piques my interest. I wonder what the ongoing expenses are like once you've paid that one-time cost.

I'm not at that point in my life yet, but my parents probably will be sooner rather than later. Can't hurt to start thinking about it.

 

[NHdisneylover]

We have met a few people who essentially live on ships---though never ones who stay on the same ship for so long.

First gentleman we met who did that was on a sailign with us on RCI. He was alone becuase hhis wife had had to disembark to take care of her mother who was in hospital. He sails only two classes of ship by the same company and tends to stay on the same one for 10-20 weeks at a go with perhaps a short stint in hotels or visiting his kids when he switches ships. We sailed with him 3 times before his wife was back and have sailed with them both anther 4-5 times.

There is another couple this man and his wife are friends with, whome we've also met on many of the same cruises, They sail about 8-9 months per year and get a rental home in off season in some country they wish to see more of in the remaining time.

I think I would get tired of the limited dining menus though there are enough return cruisers who get to know one another (heck, I literally do not recall the last time I cruised on the line we usually take and did not know many people from prior trips) plus getting to meet new passengers and knowing crew that I doubt it is lonely.

and then there is always Mario---he's not even retured yet, and he lives almost full time on ships (the attivle is a bit dated--I think it was about 7500 nights onboard when we last sailed with him last fall--it is always announced at the loyalty event when he is there). We have sailed with him many times as well--though never really tlked to him, seems people are always for his attemtion and we aren ot so star struck as all that:

https://www.cntraveler.com/stories/...-been-living-on-cruise-ships-for-twenty-years

 

[Denise W]

I've never heard of this and it piques my interest. I wonder what the ongoing expenses are like once you've paid that one-time cost.

I'm not at that point in my life yet, but my parents probably will be sooner rather than later. Can't hurt to start thinking about it.

At the community my Mom lived in, you had to pay a lump sum upfront, and then also had to pay a monthly fee. After she died, we got about 2/3rds of the lump sum back.
Denise

 

[clutter]

At the community my Mom lived in, you had to pay a lump sum upfront, and then also had to pay a monthly fee. After she died, we got about 2/3rds of the lump sum back.
Denise

These are called Continuing Care retirement communities. You pay a buy-in up front, then a monthly fee. For that monthly fee, you start in Independent Living, then can move to Assisted Living or Nursing Care as needed according to your physician and the facility. The up front fee can be set up to be non-refundable or partially refundable, depending on the facility. Some will let you choose.

My dad was in one for his last few years. He started in Independent Living. When he had events that put him in the hospital, he would go back to Nursing Care for a little bit, then get released back to his apartment. Then he got to a point that he qualified for Assisted Living, so we moved him there. Thankfully he was never in Nursing Care, except for temporary stays. Many of his friends lived in similar set ups. It worked out really well for our family.

 

[disykat]

In my parent's area there is no upfront buy in. All of the leveled care communities are month to month only. It took be by surprise because I remembered buying in with my grandparents, but I really like it that way.

 

[tvguy]

I've never heard of this and it piques my interest. I wonder what the ongoing expenses are like once you've paid that one-time cost.

I'm not at that point in my life yet, but my parents probably will be sooner rather than later. Can't hurt to start thinking about it.

I would suggest if you haven't you have a conversation with your parents about their wishes and if they have Long Term Care Insurance. And if you have adult children, you should have that conversation with them too, both sooner rather than later.

I dealt with this the last year of my mom's life (2012-13). She had planned everything out she could, and had purchased Long Term Care Insurance. We had many discussions, but you can't talk about every possible situation that could come up, and what level of care she would have liked. But all the planning she did do was a huge help.

 

[Denise W]

These are called Continuing Care retirement communities. You pay a buy-in up front, then a monthly fee. For that monthly fee, you start in Independent Living, then can move to Assisted Living or Nursing Care as needed according to your physician and the facility. The up front fee can be set up to be non-refundable or partially refundable, depending on the facility. Some will let you choose.

My dad was in one for his last few years. He started in Independent Living. When he had events that put him in the hospital, he would go back to Nursing Care for a little bit, then get released back to his apartment. Then he got to a point that he qualified for Assisted Living, so we moved him there. Thankfully he was never in Nursing Care, except for temporary stays. Many of his friends lived in similar set ups. It worked out really well for our family.

That's correct. She lived in the independent living section in her own apartment. When she needed some rehab, she went to their nursing home area for a while. At the end, she went to their hospice area.
Denise