An Early Look at Retirement
At 43, Steve Gurney spent a week in a retirement community and was surprised by what he found. As told to Mary Beth Franklin
At 43, Steve Gurney spent a week in a retirement community and was surprised by what he found.
Why did you make the move? During my 20 years publishing the Guide to Retirement Living SourceBook (www.retirement-living.com), I've visited more than 500 communities. But I felt I didn't understand what it was like to be a resident. I wanted to experience moving into a retirement home so I could help my readers prepare themselves and make more-informed choices.
Were there any surprises? Lots of them. As I walked through my house deciding what I would take into a one-bedroom apartment and what I would leave behind, I realized how my memories were tied to my belongings. I felt a bit of the loss that elders must feel when they have to cull a lifetime of possessions.
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
What about costs? It really hit home that my monthly rent, including dining and housekeeping services, would be more than the mortgage payment on my four-bedroom house. At the retirement community I moved into, rates range from $2,700 to $4,000 a month for independent living and up to $6,300 a month for assisted living.
What was the hardest part? Adjusting to a new environment. Just like being the new kid at school, it was a bit unnerving at first to decide where to sit at dinner. Some of the residents who volunteer to help newcomers transition invited me to join them in the dining room.
What was the best part? The people. Many of them have lived fascinating lives, and I'd often get an interesting nugget of information or a history lesson from someone who actually experienced an event.
How has the experience changed you? I learned to slow down. One day I went with a group to visit a museum and I did something I had never done before: I read every single word at the exhibit. Although it seems as though the sky is falling these days, an exhibit on the Civil War reminded me that our country has overcome much worse challenges. It helped put today's bad news in perspective.
What's next? I hope to repeat the project in other types of communities, including a nursing home and an Alzheimer's facility.
Get Kiplinger Today newsletter — free
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.
-
Stock Market Today: The Dow Leads an Up Day for Stocks
Boeing, American Express and Nike were the best Dow stocks to close out the week.
By Karee Venema Published
-
Black Friday Deals: Are They Still Worth It in 2024?
Is Black Friday still the best day for deals? We share top tips for smart holiday shopping.
By Jacob Wolinsky Published
-
457 Plan Contribution Limits for 2025
Retirement plans There are higher 457 plan contribution limits for state and local government workers in 2025 than in 2024.
By Kathryn Pomroy Last updated
-
Medicare Basics: 11 Things You Need to Know
Medicare There's Medicare Part A, Part B, Part D, Medigap plans, Medicare Advantage plans and so on. We sort out the confusion about signing up for Medicare — and much more.
By Catherine Siskos Last updated
-
Six of the Worst Assets to Inherit
inheritance Leaving these assets to your loved ones may be more trouble than it’s worth. Here's how to avoid adding to their grief after you're gone.
By David Rodeck Last updated
-
SEP IRA Contribution Limits for 2024 and 2025
SEP IRA A good option for small business owners, SEP IRAs allow individual annual contributions of as much as $69,000 in 2024 and $70,000 in 2025..
By Jackie Stewart Last updated
-
Roth IRA Contribution Limits for 2024 and 2025
Roth IRAs Roth IRA contribution limits have gone up. Here's what you need to know.
By Jackie Stewart Last updated
-
SIMPLE IRA Contribution Limits for 2024 and 2025
simple IRA The SIMPLE IRA contribution limit increased by $500 for 2025. Workers at small businesses can contribute up to $16,500 or $20,000 if 50 or over and $21,750 if 60-63.
By Jackie Stewart Last updated
-
457 Contribution Limits for 2024
retirement plans State and local government workers can contribute more to their 457 plans in 2024 than in 2023.
By Jackie Stewart Published
-
Roth 401(k) Contribution Limits for 2025
retirement plans The Roth 401(k) contribution limit for 2024 is increasing, and workers who are 50 and older can save even more.
By Jackie Stewart Last updated