When most of us think about retirement planning, we focus on income: pensions, Social Security, TSP balances, investment portfolios. But there’s another decision we need to make that can have just as much financial and emotional impact:
Where will you live and how will you receive care as you age?
For many military families, this conversation doesn’t happen until a health event forces it. By then, options may be limited, emotions are high, and financial decisions must be made quickly. A better approach is to evaluate your choices while you’re healthy, financially stable, and in control. Here are considerations from the military financial professionals with AAFMAA Wealth Management & Trust LLC (AWM&T).
There is no single “right” answer, only the option that best aligns with your family’s goals, resources, and situation. Most retirees find themselves considering one of the following:
This means remaining in your current home and bringing in support services as needed. Aging in place can work well, but it’s important to realistically project the cost of part-time or full-time care later in life.
Pros:
• Familiar surroundings
• Flexibility
• Emotional comfort
Considerations:
• Home modifications may be required (stairs, bathrooms, accessibility).
• Care coordination typically falls to you or your family.
• In-home care costs can rise significantly over time.
These communities offer lifestyle amenities and social engagement but typically do not include healthcare services beyond limited support. This option prioritizes lifestyle, but future care planning still needs to be addressed separately.
Pros:
• Maintenance-free living
• Built-in community
• Often lower upfront cost than full-service care models
Considerations:
• If your health changes, you may need to move again.
• Care services are not typically bundled into your monthly cost.
CCRCs provide a continuum of care, usually including independent living, assisted living, and skilled nursing, all within one campus or system. For some retirees, the appeal lies in reducing uncertainty and relieving children of care coordination responsibilities.
Residents typically pay a significant entrance fee and ongoing monthly fees. In exchange, they receive access to escalating levels of care without having to relocate to a different facility.
Pros:
• Care coordination built in
• Reduced need for disruptive moves
• Predictability of care access
Considerations:
• Contracts vary significantly.
• Entrance fees may or may not be refundable.
• Monthly fees can increase over time.
• Financial strength of the institution matters.
Some families postpone the conversation entirely, assuming they’ll address housing when a need arises. While understandable, this approach often leads to:
• Limited availability
• Emotional urgency
• Rapid asset decisions
• Less negotiating leverage
• Planning while healthy preserves flexibility and control.
Many Continuing Care Retirement Communities and other structured options require medical qualification. Waiting until health declines may eliminate certain choices. Keep in mind, the decision is not just about where you live, it is about how your wealth supports your lifestyle and your future healthcare needs.
Additionally, the earlier you evaluate options, the more effectively you can:
• Integrate entrance fees into your portfolio strategy
• Structure retirement income for ongoing monthly costs
• Preserve legacy objectives
• Evaluate long-term care insurance alternatives
• Compare projected in-home care costs
Military retirees often face additional dynamics:
• Children may live in different states.
• Retirement may occur earlier than the civilian average.
• Pension income provides stability but must be balanced against rising healthcare costs.
• Geographic mobility is common.
For many Veterans and military families, planning proactively mirrors the mindset you’ve used throughout your career – you anticipate risk, evaluate contingencies, and act before a crisis demands it. Later-life housing is no different.
Choosing where you will live as you age is one of the most significant financial decisions you may make in retirement.
It affects:
• Cash flow
• Investment strategy
• Tax planning
• Long-term care planning
• Estate planning
• Family dynamics
When evaluated early and thoughtfully, it becomes part of a comprehensive strategy. When delayed, it can become reactive and stressful.
The goal isn’t to push you toward one specific solution. It’s to ensure that whatever choice you make aligns with your broader financial plan and long-term objectives.
If you would like to explore how aging in place, independent living, or a Continuing Care Retirement Community would impact your retirement income and legacy plan, we’re here to help.
The earlier you evaluate your options, the more control you retain.
As specialists in military-focused financial planning, AWM&T can help with retirement facets you may not have considered. Schedule a conversation or call 910-307-3500 to speak with one of our fiduciary professionals today.
Founded in 2012, AAFMAA Wealth Management & Trust LLC (AWM&T) was created to meet the distinct financial needs of military families. We proudly deliver experienced, trustworthy financial planning, investment management, and trust administration services – all designed to promote lasting security and independence.
We are proud to share the mission, vision, and values of Armed Forces Mutual, our parent company. We consistently build on the Association’s rich history and tradition to provide our Members with a source of compassion, trust, and protection. At AWM&T, we are committed to serving as your trusted fiduciary, always putting your best interests first. Through Armed Forces Mutual's legacy and our financial guidance, we provide personalized wealth management solutions to military families across generations.
© 2026 AAFMAA Wealth Management & Trust LLC. Information provided by AAFMAA Wealth Management & Trust LLC is not intended to be tax or legal advice. Nothing contained in this communication should be interpreted as such. We encourage you to seek guidance from your tax or legal advisor. Past performance does not guarantee future results. Investments are not FDIC or SIPC insured, are not deposits, nor are they insured by, issued by, or guaranteed by obligations of any government agency or any bank, and they involve risk including possible loss of principal. No information provided herein is intended as personal investment advice or financial recommendation and should not be interpreted as such. The information provided reflects the general views of AAFMAA Wealth Management and Trust LLC but may not reflect client recommendations, investment strategies, or performance. Current and future financial environments may not reflect those illustrated here. Views of AAFMAA Wealth Management & Trust LLC may change based on new information or considerations.