ALEXANDRIA, Va. – April 20, 2012 – The results of a groundbreaking survey regarding the financial well-being of seniors housing residents are now available to download. The survey was designed and conducted by the Center for Retirement Research at Boston College (CRR) to better understand the current and future economic situation of the individuals living in private pay independent living and assisted living communities.
The survey gathered information on the income and assets of the population at the time of the survey (2011), as well as retrospective information concerning living arrangements, care provision, and financial gifts given. Topics addressed include the costs and satisfaction with the communities, methods of paying for the community, evidence of spending down or giving away assets, financial concerns, and the geographic mobility among the residents.
The survey’s sample consists of 2,617 respondents living in freestanding independent living communities, freestanding assisted living communities, and communities that offer both independent living and assisted living care segments. The survey respondents completed an anonymous questionnaire consisting of 41 questions posed across eight (8) pages. The results of the survey are so extensive that the findings are presented in a four-volume set of papers spanning 107 pages.
Key results from the survey reported by the CRR include:
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