If retirement homes don’t seem to be the right option for you at this time, there are other types of housing that might meet your needs. While the care component in these options might be less or different to that in a retirement home, the independence factor remains and, in some settings, little if any assistance would be provided with respect to personal care and household tasks unless purchased independently through an agency or private company.
Some seniors’ rental apartment buildings offer something called ‘supportive housing services’. This means that if required, the provision of minimal to moderate care through personal support (which may include: daily visits/check-ins, bathing & dressing, assistance with shopping, meals and transportation) and/or homemaking services is available to residents of that building. There is usually a contract that details the care arrangement between the organization that is providing the services and the person receiving it. Apartments with this option may make it possible for a senior to remain independent, in their own home, for a longer period of time than if they lived in an apartment without supportive housing services available. In some instances, this type of service is offered in a setting adjacent/connected to other homes (i.e. long-term care homes), which allows for residents to utilize some of the services or amenities in that adjoining home.
Personal support and homemaking services coordinated through the CCAC are usually not available to residents of these buildings if those services are available within the building (services are usually contracted through a local community agency). The ownership, operation, funding base and administration of monies for such structures varies and may come from municipal governments, the Ministry of Health and Long-Term Care (MOHLTC), the Ministry of Housing, not-for-profit organization such as a church, seniors’ organization, cultural group or a different agency. As a result, accommodation, care requirements, service providers, on-site services (e.g. personal care and homemaking) subsidies and cost factors may differ from one residence to another. Rental costs are based on market rates however some may have available subsidies for eligible applicants. Contact the building you are interested in directly to inquire about the application process, waiting list for service and amount of care available. There is usually a waiting list for entrance into these buildings. The Residential Tenancies Act governs the housing portion of the accommodation. In some buildings the care/service portion is legislated by the Long-Term Care Homes Act. In these buildings the MOHLTC provides funding to (and monitors) providers to deliver personal care and support services to eligible clients.
There are several ways to locate information of Supportive Housing Complexes in your area. In Toronto, you may wish to contact Housing Connections at (416) 981-6111 or visit www.housingconnections.ca for information on buildings in that region. You can also contact your local CCAC or community support/seniors agency to ask if they have a list or information on senior supportive housing complexes/ providers in your area. The website for the Ministry of Municipal Affairs and Housing (www.mah.gov.on.ca) has information on specific “Affordable Housing” projects. The website for The Ontario Non-Profit Housing Association (www.onpha.on.ca) contains contact information on region specific groups (“access centres”) that can provide information or applications for social housing complexes in Ontario (click on the “Looking for Housing?” link on their home page). The website for OANHSS (www.oanhss.org) contains listings of members of their organization by area – this includes those that offer “Seniors’ Housing”. Additionally, a quick search of the internet will display several websites specifically detailing Information about ‘social housing’ and ‘supportive housing’ for seniors in different areas of the province.
A relatively new housing option in retirement living for older adults is that of Life Lease or Life Equity structures. Usually, one would purchase a leasehold interest (the terms of which vary depending on the development) in a property when they are healthy. It is usually an apartment building type structure similar to a condominium in terms of unit size, features and monthly maintenance fees. The purchase price and maintenance costs are presumably more affordable than other traditional housing in the area of the city/province that the building is constructed in. Unlike a condominium, the tenant does not have to pay GST and Land Transfer Tax. The corporation (usually a non-profit or charitable organization) holds title to the property. It sets the criteria/eligibility guidelines (e.g. the age of the purchaser) of who may purchase a leasehold interest (which is the right to reside in the unit you choose and share use of the common amenities with other residents) in that structure. There is a monthly maintenance fee and the corporation maintains and manages the building. One potential benefit for the person who purchases a ‘Life Lease’ on this type of unit, is that (s)he may be able to remain in their own home even if their care needs increase (potentially it allows for “Aging in Place”). This is because many of the structures being built are connected to/with other seniors’ resources; part of this housing option is often the availability of on-site support services (which usually need to be purchased for a small cost), through an affiliated seniors’ agency, that can be utilized as needed. Depending on the residence, this may include: housekeeping (assistance with laundry, meals, cleaning), personal care (bathing and dressing), emergency call systems, dining/meal services, transportation, nearby or on-site amenities and activities/ recreational and social services.
The units may have special safety features and fixtures designed for the seniors’ needs (e.g. grab bars in the bathroom). The amenities available, purchase price, maintenance fees and costs to purchase services will vary depending on the complex/building. Unlike standard condominiums, the government does not regulate Life Lease structures. As such, it is important when looking into this option that you do some research and ask many questions to ensure that your needs can be met both financially and physically, now and in the future, if your health declines. As well, be sure to ask about their policies around terminating a leasehold interest and what equity would be returned or paid to you upon a decision to vacate. (In most complexes, when the owner of a leasehold interest (or his estate) wishes to terminate the agreement, he/she receives funds based on the market-value of the leasehold interest of the unit. There are some complexes however that are based on a different model and the entitlement to increased equity at the sale or transfer of the leasehold interest is linked to the amount of the initial payment).
It may also be wise to review all documents with a lawyer and ensure you have a clear understanding of all of the terms of the agreement prior to signing anything. If you are purchasing a life lease in a complex prior to construction being completed, you might want to research the organization that is sponsoring the structure and will hold title to it, to find out what they have been involved with in the past and what their reputation is. There does not appear to be one comprehensive list of available Life Lease structures in the province; there are many in existence already and several in the construction phase across Ontario. A quick search of the internet will provide you with websites of several projects and articles related to this housing option. Since many structures/projects/complexes are affiliated with not-for-profit organizations, you may wish to contact OANHSS at (905) 851-8821 for information on buildings that are members of their association. Their website, www.oanhss.org has links to websites of companies that assist with the planning of Life Lease structures in Ontario. Additionally, The Ministry of Municipal Affairs and Housing has researched this housing option and can be contacted by consumers interested in/considering purchasing a Life Lease unit. The general information number for the Market Housing Branch of the Ministry is (416) 585-7544.
Another relatively new housing opportunity for seniors which is growing in popularity and construction in recent years is a twist on a concept that has been around for some time. Developers are building independent condominium units (as townhomes or in apartment type structures) for purchase (&/or rent) that are specifically geared to seniors. Many will have special features like grab bars, lower light switches and easy to turn door handles. Most will have a choice of service packages/amenities included for a set fee per month. Suites all have full kitchens but many will also have meal packages available. Some are affiliated with retirement homes or can provide extra care if necessary for a fee. While it is geared to the independent senior, it has the potential for “aging in place” as well. A number of these developments in the Greater Toronto and surrounding area are detailed on our website.
BE CAUTIOUS WHEN LOOKING AT TIMESHARES
At some time or other you have probably seen the ads: “Luxury Lifestyle at Affordable Prices!”–”Vacation the World!”–”Trade for Exotic Climes!”–”Buy Your Own Vacation Dream Home!” These refer to the concept of timesharing.
Other commonly used terms synonymous with timesharing include: resort timesharing, vacation ownership, multi-ownership, interval ownership and shared vacation plan. The timeshare concept has been applied to numerous other areas such as recreational vehicle and mobile home parks.
The timesharing business originated in Europe in the 1960s. The concept then moved to Florida in the 1970s to facilitate the sale of the sluggish condominium industry. Since then, timeshares have grown rapidly, with thousands of resorts throughout Canada and the United States, and around the world. These resorts range from Ontario cottage country resorts, to Florida condos, to Mexican beach villas.
There are two main categories of timeshares: “right to use” and “fee simple” ownership.
Right to use
This concept is much like having a long-term lease, but with limited use for perhaps one, or maybe two weeks per year. It is similar to prepaying for a hotel room for a fixed period every year, 20 years in advance. In other words, you don’t have any portion of ownership in the property, you only have a right to use it for a fixed or floating time period every year. The “right to use” concept involves condominiums, recreational vehicle parks and other types of properties.
The opportunity for return on your money in a “right to use” timeshare is limited or non-existent. This is because there is generally very little demand in the after-sale market, as well as other restrictions on resale or pricing of the resale. In practical terms, timesharing is primarily a lifestyle choice.
Fee simple ownership
There are different formats. One involves owning a portion of the condominium (for example, one-fiftieth of the property). Each one-fiftieth portion would entitle you to one week’s use of the premises. Other people would also buy into the property. Normally you would be allocated a fixed week every year. In other instances, it could be a floating time, with the exact date to be agreed upon depending on availability. In some cases, you might purchase a one-quarter or one-half interest. If the property is sold, you would receive your proportional share of any increase in net after-sale proceeds. You would also normally be able to rent, sell or give your ownership portion to anyone you wished.
Here are some of the issues to be aware of:
You may tire of going to the same location every year, as your needs may change over time.
The timeshare programs that include an exchange option (i.e., switching for a week in a different location) are not always as anticipated, in terms of availability, flexibility, convenience, or upgrade fee.
Make sure you know what you are getting. Some people who purchase the “right to use” type think they are actually buying a “fee simple ownership” portion.
Be wary of hard-sell marketing. In most instances, you are offered “free” inducements (buffet, cruise, etc.) to convince you to listen to the sales pitch. The dream fantasy is heavily reinforced, and high-pressure sales pitches, given by teams of salespeople, can go on for hours and can be very persuasive–if not aggressive. Furthermore, very manipulative techniques are sometimes used to get you to sign a credit card slip as a deposit.
There is usually an ongoing management fee for maintaining the premises.
Timeshare sales in Canada and some U.S. states are sometimes covered by consumer protection, in terms of your right to get your money back by “rescinding”, or canceling the contract within a certain time period.
Timeshares are a dream for some, but a nightmare for others. Speak to at least three other timeshare owners in the project you are considering in order to get their candid opinion before you decide to buy. Never give out your credit card for any reason as a deposit, or sign any documents without first speaking with a local real estate lawyer. Obtain a lawyer’s name from the local lawyer referral service or provincial or state bar association. Don’t let yourself be pressured. Check with the local Better Business Bureau. Then sleep on it for some time. If the deal seems “too good to be true,” it probably is.
CONSIDERING THE SNOWBIRD LIFESTYLE
The thought of spending up to six months in a warm, sunny US Sunbelt state or Mexico during Canada’s cold or rainy winter season is becoming increasingly appealing and popular for millions of Canadian retirees. This trend is increasing every year, as Canada’s population ages.
“Quality of life” decisions, of course, are key to enhancing one’s mental, emotional, physical and social well-being. Because Canadians are living and staying healthier longer, retirement could mean another 30 years of life. With proper planning, the Snowbird lifestyle can be the most active, stimulating, satisfying and enjoyable experience of one’s retirement years, with life-long friendships and shared memories of good times. Many Snowbirds leave in early November and return at the end of April, while others don’t leave until the beginning of the New Year. They can have the best of both worlds in terms of climate, and enjoy the benefits of both countries.
However, there are many matters to deal with when you are spending up to six months as a Canadian Snowbird. You must consider issues such as family, friends, finances, fluctuations in currency exchange rates, investments, taxes, immigration, customs, housing, travel, safety and security, and medical and other types of insurance. You also need to give thought to such important matters as money management, financial planning, wills, estate planning, and the need for reliable professionals and other advisors. Since each person’s situation is different, and because regulations and laws can change at any time, it is best to get customized feedback from professional advisors.
Where to stay
As you might expect, the US is the most popular Snowbird location. A common language and culture, familiarity, proximity, and accessibility make it the destination of choice for the vast majority of Canadian Snowbirds. The comments below therefore relate to the US experience.
However, there are also an increasing number of Canadians who prefer to spend the winter months in various parts of Mexico, a country rich with culture and diversity. Mexico has several locations that are popular retirement communities for Canadian and American part-time or full-time residents, and it is estimated that over one million Canadian tourists visit Mexico every year.
Many choices are available when deciding where to stay in the US. The most popular Sunbelt states are Florida, Arizona, California and Texas. You might want to be based in one area and take short sight-seeing trips, or use a recreational vehicle and travel through various states. Depending on your interests and needs, there are many factors to consider such as varied terrain, spectacular scenery and hot weather. Maybe you prefer the ocean, mountains or desert, and like the proximity of city life or rural ambience. Friends could also be a factor, drawing you to one place or another.
There are free state tourism booklets, and information is available for the asking. Check with your local library for videos of the state and specific city you are considering. Also, speak with other people who are Snowbirds in that location. Before making a decision to buy a condo, house, mobile home or RV, you may wish to rent one for the first season to see if you like it. Alternatively, if you have an RV, you can check many places out to see what areas appeal to you.
Living in the South during the winter can also be very affordable. In fact, you may find that you come out ahead financially. This is because of the savings from the lower cost of living in the US or Mexico. You can rent a mobile home/RV pad in the US for a small amount, ranging from US$200+ per month based on a 12-month lease. You can buy a used mobile home (fixed in place) in a park for US$5,000+ that could meet your needs. There are some good bargains, especially at the end of the season in April. When you amortize that cost over 10 or more years, it becomes very affordable. You also have use of all the facilities and amenities at a mobile home/RV park, which is generally included in your pad lease fee.
Naturally, expenses can be higher in some parks, but you would normally select the type of park or condominium community that meets your budget and other needs. In addition, you save money on heating costs at home in Canada during the winter months. You could be breaking even or paying just a bit more than you would if you stayed at home all winter, even taking into account the cost of your out-of-country emergency medical insurance (for which you are entitled to a tax credit, under the “medical expenses” category of your tax return). This type of attractive economic reality is also a contributing factor to the decision of many to winter in the South.
Despite all the positive benefits, the Snowbird lifestyle is not for everyone–it is just another retirement option. It is wise to evolve into the lifestyle in a step-by-step fashion to see if you like it, so try it for a month or so by renting.
Travel Is Much More Than a Vacation for 50-Plus Crowd
New boomer Web site finds top travel dreams of 50-plus Americans include traveling to Hawaii, Europe, Australia and Italy
(ARA) – The days of settling for a quick trip to Florida are over … or so it seems for the 50-plus crowd. What has always been an important part of Americans’ leisure activity is now becoming a full-blown passion for baby boomers. In fact, 75 percent of boomers today consider themselves travelers and 30 percent of mature travelers travel for adventure.
Recently, Eons.com, a new Web site for people 50 and over who want to live life to the fullest, challenged Americans to submit the goals and dreams they would like to accomplish on their way to living to age 100.
This growing collection of more than 70,000 “LifeDreams†– personalized collections of top things to do before you turn 100 – reveals that nearly half of the top 100 goals adults 50-plus want to accomplish center around travel. What may come as even more of a surprise is the type of travel people are planning: Eons visitors are not naming passive vacations; rather they seek to experience and learn about the world and themselves through meaningful journeys and adventures.
“If you are over 50 today, you will, on average, live 20 years longer than your grandparents did,” explains Jeff Taylor, founder and CEO of Eons. “This provides more opportunities than ever before to get the most out of life. Eons members have told us that they are planning to use this time to travel to new places, to continue to learn, to deepen their relationships and to just have fun. Travel is never more important than when you are over 50 – now is the time to live out your dreams.â€
Eons lists a range of travel experiences, from seeing the Grand Canyon to going on safari in Africa, as among the 100 most popular LifeDreams of its visitors. The top five travel dreams include traveling to Hawaii, Europe, Australia and Italy, as well as taking a cruise.
“Up until now, the typical first step in planning a trip was to choose a destination – Italy or Hawaii for example. However, we are finding that many boomers are now starting their planning based on their interests and goals, like a walking vacation or a family reunion,†explains Ronnie Mae Weiss, an Eons travel expert. From there, the research, planning and fun begin.
“For active vacations, boomers are more likely than a younger audience to train with friends or with a personal trainer prior to the trip. Diving into the cultural nuances of a region, taking a conversational language course or inviting friends over to test regional recipes are other ways to make the most of preparing for trips. This new generation is embracing the Internet as a resource and is likely to have a community of past travelers and friends to share and suggest hidden treasures to enrich their travels,†adds Weiss.
The travel industry is turning its attention to the financial prowess of this new 50-plus generation. Approximately 8,000 Americans turn 50 every day, and boomers control $2 trillion in disposable income annually. New offerings are being created to meet the unique needs of this age group, from plan-it-yourself travel to extensive package vacations that can be tailored for couples, adventurous individuals or families seeking “intergenerational” vacations that bring children, parents and grandparents together.
Unique travel companies like Geographic Expeditions, ElderHostel and Earthwatch, along with others, are offering “experiential trips†that enable people 50 and over to participate in environmental, cultural, volunteer and other interest-driven activities as part of their trips. Industry leaders such as Hyatt Hotels are creating special offers and programs, including destinations and packages that are particularly appealing to this age group.
“Travel for people 50 and over is rapidly changing,” says Tom O’Toole, senior vice president, strategy and systems, Global Hyatt Corp. “We find it very interesting that travel is among the most aspirational concepts for this group. As such, incredible opportunities are being opened up for the travel industry, including Hyatt, serving these peoples’ dreams of traveling around the world.”
Courtesy of ARA Content
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Retirement Travel Advice
Looking for retirement travel advice?
This is set up for people retiring or retired to share travel advice with each other.
One of the first things many retired folk do is travel.
That’s what my dad did. His idea of retirement travel was to buy a pick-up truck, put a camper on the back, and take my mom across Canada. It was a dream trip for both of them. She got to see her father’s native Nova Scotia, and he got to give something special to my mom.
Last year, I took a pre-retirement trip with my mom, this time to Alaska on a cruise ship. She and Dad never got to take that trip. Neither did she and my grandmother. I woke up one day and realized that if I didn’t book a cruise, there would be one more missed opportunity being discussed at family gatherings.
When I do retire, I want to take at least one significant trip each year.
I’d like you to share your favorite travel destination and why you like it so much.
Others besides you and me will use this information. So, feel free to include any kind of retirement travel advice that you think will help any retired person.
When I Retire I'm Gonna... 