Military Officer - March 2007 - (Page 72)

SPRING retirement guide Turn active duty… into active retirement. and they must follow certain laws. Our CCRC is accredited, and it’s a nonproﬁt. They have a $6 million escrow account in reserve, which is good, and they’ll never kick us out, no matter what. Even if all our money runs out, they still have to take care of us. That part was included in the “Life-Care Residency and Care Contract” I signed. How are the financial arrangements handled? You pay an entrance fee. They hold back $21,000 in escrow to help pay for your care if you have to go into assisted living or the skilled-nursing center across the street. You also can opt to get 40 percent, 75 percent, or 90 percent of your entrance fee back at your death, which goes to your estate. This amount also can be used as a line of credit to offset additional expenses. Do you own your apartment and pay taxes on it? No, I don’t own it, but I did get to take a local homestead exemption after I lived here a year. Do you pay a monthly fee? Yes. How much you pay depends on the size of your apartment and whether you’re in independent living, assisted living, or the nursing facility. The only thing we pay for here is our computer cable modem hookup. We don’t pay utilities or phone, except for long distance. I use my cell phone or a calling card for long distance, or I send an e-mail. What amenities are included in your monthly fee? I have a housekeeper who comes in once a week. She doesn’t dust, but she does vacuum. She also cleans the bathrooms and changes the linens. I haven’t scrubbed a toilet or changed a bed since I’ve been here! I also get one meal a day downstairs. We’ll hold a place for you in Williamsburg, Virginia. Maybe you aren’t done with your yard clippers now. But when you’re ready to join fellow retired officers, Patriots Colony offers the perfect setting for an active lifestyle and maintenance-free living. Come visit us and join the Futures List now for an exceptional retirement experience later! www.patriotscolony.com 800-716-9000 6000 Patriots Colony Drive, Williamsburg, VA 23188 | 757-220-9000 Survivor Benefit Plan: Security for Your Survivors 78% of ofﬁcers participate in the Survivor Beneﬁt Plan (SBP). Make smart money decisions with longterm impact. To order, call toll-free (800) 234-6622 and provide your membership number (located on your magazine’s mailing label) to receive your member discount! Item #1-602 Member Price FREE MARCH 2007 Non-Member Price $14.95 72 MILITARY OFFICER http://www.patriotscolony.com

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Military Officer - March 2007

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