Retirement accommodation and care centre choices - a one-way street!

Retirement accommodation and care centre choices - a one-way street! Retirement decisions are often one-way streets, from which, if we get it wrong, few return unscathed. And making correct informed decisions, often determines whether we live happily ever after in our chosen retirement estate, or whether the venture turns into a traumatic experience, sometimes accompanied by a financial disaster. So what can be done to make sure that we make the right decision? Investigate thoroughly and ask the right questions; some being as follows: WHY MOVE AT ALL? Because we are getting older? Because we might need frail care? No, on average no more than 2% of people over the age of 65, and 8% of those over 80 ever require frail care. No, in South Africa the main motivation for moving is security. GRANNY FLATS Our children have asked us to move into a granny flat on their property; is this good idea? No! Sons'-inlaw, and even one's direct children, may receive a job offer that they cannot refuse; or may after surviving a violent crime, decide to emigrate! Where then will that leave you? (Up the creek without a paddle!) SHOULD YOU MOVE AWAY FROM YOUR SUPPORT GROUPS AND FRIENDS Will you still be able to attend your normal Church? (The one that you were baptised in when Noah was a child, and which you have been involved with for the last 60-years). HOW SAFE IS THE SUBURB IN WHICH YOUR VILLAGE IS SITUATED? What is there security history like? Have they had any break-ins? Is it safe to go for walks in the area surrounding your village? (If you can find one... maybe you should ask a friendly policeman?) FINANCIAL What is the history of the organisation? Can you have a copy of the audited financial statements? Ascertain what the prices/fees are? (And importantly in the event of death, what refund will be due to your estate?). WAITING LISTS Does the Estate have a waiting list? How long does it normally take for the offer of a unit (or frail care bed) to arise? How long do you have to make up your mind? How much is the current levy - and what does it cover? Is there a levy stabilisation fund? How much is in it? Has the facility ever had to raise a special levy? ... Why? What for? (Special levies are sometimes an indication of mismanagement). LEGAL COMPLIANCE Is the facility registered with CSOS and/or the Department of Social Development? (Ask to be shown a copy of the registration certificates). When was the frail care facility last inspected? Is the facility a nonprofit? These are but a few of the plethora of questions which should be asked prior to deciding whether to move into a specific village. You need to 'get it right,' as once the decision is made, it's often a one-way street from which few return unscathed; But the good news is that if you choose the correct option, it often guarantees that your retirement years will be both safe and enjoyable! The good news is that there are many reliable developers and retirement villages around in South Africa. Just do your homework!

Henry Spencer