Hello. My name is Rick and I have a special use case for MaxiFi that I would like to mention briefly. About 2 years ago I started the process of researching CCRCs or continuing care retirement communities. I immediately discovered a very complex landscape of financial considerations. I also discovered that traditional retirement calculators, often used by many financial planners, were not going to give me the information I would need to make a decision concerning whether I should enter a CCRC.
It was clear that I needed retirement planning software capable of modeling different scenarios. MaxiFi has this feature by giving us the ability to create alternate profiles. I was then able to model Type A CCRCs–– often called all-inclusive plans, versus Type C CCRCs, often called a la carte plans. Within each type I was able to model different scenarios. As an example, one model included the following special expenses:
one time entry fee; independent living monthly expense for 20 years; memory care monthly expenses for 3 years; and skilled nursing monthly expense for one year. For each scenario I constructed I was able to determine what my discretionary spending level would be. Without this type of modeling capability I would not have been comfortable making the type of financial commitment CCRCs require. The main attraction of CCRCs is the availability of independent living, assisted living, memory care, and skilled nursing all on one campus. However, you could still use MaxiFi to do your modeling when considering standalone facilities like a memory care facility or an assisted living facility. Let me end by saying that Jay gave me considerable help not only setting up MaxiFi, but also helping me create the various CCRC scenarios that I used. So thank you MaxiFi and thank you Jay! And I'm happy to report that I have reserved an apartment unit at a local CCRC and will be entering in the fall. Take care and good luck out there.
