[BroadHopper]

Entry to one of these communities is income-based. You can buy a cottage with an HOA, or you can rent an apartment. I consider the initial investment as long-term care insurance. No matter what happens you are taken care of until passed. They use any income you have such as annuity, pensions, etc as well as your social security as factors for monthly rent. They even used Medicare and any supplement you may have to pay for medical costs. So the initial investment varies among individuals. When you pass, if you have extra money in savings and annuities, they will be passed to your heirs.

You need to check it out and not base your thinking on hearsay. I can live in my condo off campus should I sign up. If I need assisted living or nursing care. I'm covered. I also enjoy all the benefits of the community such as social events, gym, dining/cafe et al. I enjoy at-home care if needed. It's worth looking into in your late years.