#84 – Retirement Planning, Fed Updates & Senior Living Insights

Jeff Lloyd [00:01:05]:
It’s a big sports weekend at the Lloyd household. There is a big volleyball tournament in Hoover, Alabama that my 15 year old daughter is playing in. And so it was nice to be able to have this technology workaround so that I could both record the show and attend the volleyball in person.

Wes Moss [00:01:24]:
Yeah, it’s a nice balance. It’s great that you’re able to do both. So thank you for being with us. I’m going to just start out by saying, I mean the I go through these periods of time where I try not to get too into the weeds for the Fed because they’re always changing their mind and you just kind of wait until hear what they actually say so you don’t speculate all week. This is not one of those weeks. I was just all Fed all week. Jackson Hole was the Fed met at their annual Jackson Hole Conference. I think there’s a lot of fly fishing, a lot of smart economists out there.

Wes Moss [00:01:57]:
And then of course, all gearing up for what was this past Friday’s State of the Union, if you will, from Jerome Powell. So here, here are my three big headlines for what we just lived through this week. Number one, Powell goes dovish at Jackson Hole signaling rate cuts ahead with and markets absolutely loved it. The minute he started talking, I think they released his speech three minutes maybe before he started talking because markets were already up. The minute he went to the podium they were up something like 600 points on the Dow. And then later in the day we ended up with new Jeff Lloyd. What do we call him?

Jeff Lloyd [00:02:36]:
One of the favorite phrases here on Money Matters, another all time high. And that’s what we’d like to hear when we’re talking about the economy and the stock markets.

Wes Moss [00:02:46]:
Another all time high so Powell gets dovish housing. I’m going to call that the. If I think about the U.S. economy and its housing’s not doing great. The car’s still running, it’s still driving down the road 50 miles an hour. Housing, though, once it gets turned back on, it kind of gets out of the refrigerator. It’s now like a turbo booster. So we go for if housing picks up, which is this is the first time I can see that happening.

Wes Moss [00:03:14]:
Call it the next six to 12 months, you know, in a while. Now we get the turbo boost and that means we’re 70 miles an hour in this economy. And then we, we heard from Walmart this week. We heard from Walmart really not so much looking at the stock itself, but really what the consumer in America is doing. So we’re going to talk about that. Of course, there’s another consumer brand that got a lot of headlines this week in one Cracker Barrel. If you’re driving down the highway listening to Money Matters, I don’t know if you’re going to see the new logo right away, but so much controversy around it, so much controversy around the new Cracker Barrel logo that was unveiled this week that here’s a headline for you. Democrats and Republicans agree now.

Jeff Lloyd [00:04:01]:
Now, you don’t hear that very often, but maybe something like a logo rebrand from Cracker Barrel that can unite us.

Wes Moss [00:04:08]:
To bring the country together. That bring the country together. We rally around. There was all this talk about how the they removed. We’ll just start with this because it’s fascinating. They Cracker Barrel rebranded. I’ve gone through this process where you think for six months or a year about, hey, what’s the logo look like? What’s the tweak look like? What is the the mission? Did we change that? And so I can see them sitting around a table for the past year and they’re saying, oh, let’s modernize this and let’s make it cleaner and we’re going to modernize our stores. Well, they unveiled it this past week.

Wes Moss [00:04:39]:
They took the, I guess there was a kind of an old man standing next to the barrel and then there was a tagline, something about old country store. And they removed the old ban and they removed the tagline. And it’s just this kind of yellow Cracker Barrel font and nobody likes it. And the right called it a woke move. Stock was down something like 7% in one day. One day. And the, and then the Democrats chimed in and said, hey, we hate it too. So nobody likes the new logo.

Jeff Lloyd [00:05:11]:
Yeah. At one Point. And just a reminder to our listeners, Cracker Barrel is a publicly traded company and at one point, I know it finished the day down 7%. It was actually down 15% at one point, so lost anywhere between almost $100 million in market cap, but it was down almost $200 million in market cap off this logo fiasco.

Wes Moss [00:05:35]:
Logo fiasco. Not a buy, hold or sell recommendation, but a nice reminder that stocks and or the stock market are not necessarily reflective of the business that they’re supposedly tracking. Does a company really lose 20% of its value just because of a logo change? Not necessarily. But the sentiment around it and the emotion which is the psychology part of it’s the, it’s the non math side of the equation. Of course it goes a really long way when it comes to investing. Now we’re going to transition from that because we had a lot of emotion around the Fed this week. So leading up to this past Friday, there was all this talk, it was Kansas City, Jeff Schmidt and I’ll never be able to remember all the different Fed governors, we all know Jerome Powell, but there was this talk during the week, this past week around maybe the Fed shouldn’t be cutting rates. We’re throwing cold water on the idea of lower rates because we, the unemployment rate is still low.

Wes Moss [00:06:35]:
We’re just not getting enough data. And when we do get the data, it’s quote. Fuzzy was another term that one of the Fed governors this past week talked about saying that look, we’ve got some good economic data, some not so good economic data. So you put it all together collectively, it’s a little fuzzy. So maybe we just wait and see. And all of this happened at, in Jackson Hole, at Wyoming. That’s where it’s every summer central bankers get together, economists. It’s a huge amount of people that are probably out there also to go fly fishing and study finance, talk about finance.

Wes Moss [00:07:11]:
They all come to Jackson Hole, they all go to Jackson Hole, Wyoming. And it’s really not just a conference. It’s the Fed’s version of their State of the Union. And what did we get on Friday morning? We got a pretty dovish message. Meaning dovish is in. Maybe the economy needs a little more help. Maybe it needs lower rates. And here’s what stood out to me is that one, he talked a lot about the labor market.

Wes Moss [00:07:36]:
I would say he leaned cautious. So on one hand he talked about how lower immigration, so immigration rates have really come down in 2025. And what has that done? That has tightened the pool of available workers, which naturally Keeps the unemployment rate low so you have less people looking and it’s less people that would be unemployed. So that in itself keeps the unemployment rate low. Now you zoom into that a little bit. So called, on the other hand, hiring is really slowed down. We only had 35,000 jobs, new jobs added. That was the average over the last three months.

Wes Moss [00:08:13]:
Compare that to the prior three months when we were adding 168,000 new jobs per month. So that really stood out. One, you can make an argument that the unemployment rate will stay low. The other is signaling things are cooling down. Now again, also somewhat remarkable about what Powell said about around inflation and tariffs. I think he really, Jeff Lloyd, I think he really adjusted his language. He talked about how the increase in tariffs is a, is a one time event. But he also said not at, not all at one time.

Wes Moss [00:08:50]:
And that makes a ton of sense too.

Jeff Lloyd [00:08:51]:
He really eased his tone when talking about the inflationary impacts tariffs could have on prices in the past. One thing he said was hey, we’re going to be data dependent, let’s wait and see on what the tariff impact is going to be on prices. And the language was just a little bit different this past Friday when he was speaking at Jackson Hole.

Wes Moss [00:09:15]:
The other thought was around the neutral rate. So he talked about how we’re, and I get again, I think this gets lost a little bit. Neutral means the economy is not too hot, not too cold. Above that rate, it’s the Fed’s trying to slow everything down. So he really made a point to say we’re not in neutral territory, we’re in restrictive territory, meaning that hey, we might need to get closer to the neutral rate. Again, another message that’s essentially that that means rates need to go lower. So that was another big takeaway is that we’re not really neutral, but we need to get closer to neutral. Then he talked more about, he also went into inflation data.

Wes Moss [00:09:52]:
He talked about PCE, it’s another measure of inflation. And that was at 2.6% over the past year. He said, Look, GDP is slowing down a little bit. We’re running at 1.2% growth. Last year we were at 2.5%. So bottom line on all this, the balance of risks. And I think this was a, a quote, if I’m getting this right, may warrant adjusting policy. And those call it four words sent the markets through the roof.

Wes Moss [00:10:25]:
That, that what, what market participant saw with that essentially said, oh wait, that means he’s, he’s got to pull down rates. And we went from something like a 65% chance of a rate cut in September to 100% chance. And that all happened within a couple of minutes at least. The market, Fed fund futures market predicting that. So that’s really what Jerome Powell got dovish this week.

Jeff Lloyd [00:10:49]:
He really did. And we’re not talking about bird watching, we’re talking about policy stance. And one thing he said about inflation that kind of struck me is inflation has been above the Fed’s 2% target for over four years. And I guess I realized that, but I hadn’t thought about, hey, we have been in this higher inflation environment for over four years now.

Wes Moss [00:11:18]:
Well, okay. And here’s, here’s the other thing that I think stands out. Well, first of all, how I want to get to housing just before we go have to go to a break. But we are in this, everything is about today and this week and what is the Fed gonna do September 17th and 18th. And we’re still really shortsighted. Remember over the last couple of weeks there is a whole new slate. Something like 11 people that are being considered to be the next Fed chair. And they are, the White House isn’t gonna put somebody in the Fed that’s a hawk.

Wes Moss [00:11:50]:
We’re talking about, they want lower rates. So I think that you’re, it would be very shocking to me if we, and there was a, there’s a, one of the commentators who’s now in the running for the Fed, he’s a markets guy, fixed income equities analyst David Zervos, and he wants rates way lower and that that will be in May of next year. So we keep forgetting that eight or nine months from now very likely to have a new Fed chair. That’s pretty dovish. And what does that mean? Well, that housing’s been kind of on ice, maybe just in the refrigerator. We were still, there’s still housing activity, but it’s super low. Over the past month we’ve started to see housing permits tick up. We’re seeing a little more activity around housing, but we all know that we need mortgage rates and we, we saw a near term loan in rates.

Wes Moss [00:12:40]:
The average 30 year fixed mortgage got close to six and a half percent this week. But once that goes to five and a half, that’s when you get this turbo boost on this economy. So maybe if the car’s driving down the road 40 miles an hour, maybe that adds another 10 or 20 miles per hour to the economy because there’s so much spurs from housing activity when that starts to pick up that it’s hard not to see how that doesn’t increase overall growth. So put it all together, you got a dovish Fed. And we’ve. And the markets have been waiting for that for a very long, long time. To the bottom of the half hour. We’re gonna have my friend Jen Franks on, who is really just helped so many families and friends that I’ve worked with over the years find and kind of vet out senior living.

Wes Moss [00:13:25]:
It’s, it’s. When you hear the word senior living, it’s not most people’s first choice. Hey, I want to stay in my home forever. I don’t want to ever have to go to any other place. But the reality is it is a reality for millions of Americans and it’s complicated. There’s a lot of different choices, different levels of care, different communities, different amenities. What does it cost? It can. And the cost range is enormous depending on the place you go.

Wes Moss [00:13:49]:
So I wanted to, I ran into Jan, I said, you’ve got to come on Money Matters and talk this through. So we’re going to do that at the bottom of the half hour. In the meantime, Jeff Lloyd, you and I are wrapping up just a week of historic Fed talk, meaning that this is the first time we have seen that really pivot to become more dovish. A long time. And the, it was very clear the message they sent to the market this week. I mean, we’d had five or six straight days negative on the S&P 500. It pulled back a couple percentage points. And then they released his speech on Friday morning, probably at 10am East coast time on the nose.

Wes Moss [00:14:27]:
And markets were up 600 points 30 seconds later. And then they continued to climb on Friday. And that’s because it looks like the Fed and it’s, they’re not doing it today, but in the middle of September looks like they’re to start delivering on these lower rates. Lower rates mean everything gets a little cheaper. Stimulative. The economy could get housing out of the refrigerator into the warming drawer, and that could be a big boost for the economy. So. So the market really liked that.

Jeff Lloyd [00:14:54]:
Jeff Lloyd and I think that the, the probability before the speech that there would be a Fed rate cut at the next meeting was hovering around 65%. After the speech, it was north of 90%.

Wes Moss [00:15:07]:
We’re almost at 100% at this point. The. We also talked about how Cracker Barrel is bringing Republicans and Democrats together. Seems like both sides really don’t like the new logo and that that was reflected in the stock price. Look, I still think the food there is amazing. It’s not it doesn’t feel like the healthiest meal after you’re done, but still pretty awesome. So we’ll see. We’ll see what that company does over the coming weeks.

Wes Moss [00:15:32]:
If they’re go back to the their old school logo and look or if they continue with this modernization, we’ll see.

Jeff Lloyd [00:15:39]:
Well, I passed one on the interstate this past week and it was still the old school logo.

Wes Moss [00:15:43]:
I think it’s going to take a while for them to really make that change and I don’t know if they’re actually going to do so. But the totality here and I think the other takeaway is that we’re still in a decently Goldilocks oriented economy. There’s plenty of things you can point to that are pretty good, still have positive GDP growth, still have a low unemployment rate. But there’s now questions with all these things. Is the unemployment rate going to go higher because we only added 35,000 jobs on average over the last three months, or will it stay lower just because we have less labor supply coming into the country as immigration is down in 2025? So we’ll continue to talk about this in the coming weeks, of course, next weekend, big time Georgia football starts again. Yeah. This week we, yes, we have some college football, but some of it was overseas. I don’t know if it really counts.

Wes Moss [00:16:36]:
I didn’t watch the Saturday game. But the interview coming up straight ahead with Jen Franks is a must. Listen More MONEY Matters straight ahead. Our research shows the number one fear for retirees, uncontrollable economic and market swings. And after the last five years, that’s totally understandable. But here’s the good news. Happy retirees are twice as likely versus unhappy to have a financial plan. A plan can calm those worries.

Wes Moss [00:17:04]:
My team at Capital Investment Advisors would love to help your family build a plan you can feel confident about. Just pick a time that works for you. @yourwealth.com that’s y o u r wealth.com senior care can be incredibly stressful for everybody involved. For you, if you’re the one thinking about or having to go into senior care and for your family members that are trying to help find a place for you. Potentially, if you’re thinking about this for your parents, it’s just a harsh reality that usually comes really quickly and without a whole lot of warning, usually after some sort of medical event and a family member who was extremely healthy yesterday all of a sudden now needs the help of loved ones and a place that they have some support and some care and because it’s such a complicated topic, I wanted to bring in a professional to help make it less overwhelming. And that’s Jen Franks. Jen Franks has nearly 20 years of experience in them, as we call it, the senior living industry. And that encompasses everything from independent living, assisted living, to memory care, personal home placement.

Wes Moss [00:18:12]:
So there’s a lot in this industry that if you’re not in it, it gets really confusing. So she’s not interested in maintaining the status quo for the family she helps. She, her company, serving seniors, they’re all about problem solving. And I’ve worked with them again many times and they really care and they want to find the right place that’s, that’s uniquely right and special for you and your family. So that’s why I wanted to take some time to dig into the industry, dig a little deeper into the different tiers of services that Jen can help you find. Talk about the expenses and what that might mean for families. Where do we start?

Jen Franks [00:18:50]:
Jen, I know this is the magic question, but really you have to look at the whole picture. It’s not just one component similar to finances. You know, there’s so, so many elements when you’re planning. And so when we’re looking for senior living options, we really need to ask the right questions.

Wes Moss [00:19:12]:
Of course, it’s serving seniors. Do you help with finding home care as well? Are you looking for, are you helping families find facilities that are a great fit for their, them or their parents?

Jen Franks [00:19:25]:
Right. So I specialize in senior living. That’s my background, that’s my niche. However, these are so closely aligned. We help people all the time with getting home care set up. We have resources and we match those resources with the families and they can decide what’s best in terms of those particular agencies.

Wes Moss [00:19:44]:
What would we call the overarching industry?

Jen Franks [00:19:48]:
The senior living?

Wes Moss [00:19:49]:
Senior living.

Jen Franks [00:19:50]:
So it’s a senior living industry. And then we break that down into a few different models. So you have the CCRC model. So that’s going to be your continuing care retirement community.

Wes Moss [00:20:01]:
Because the ccrc, the continuing care retirement community, it’s going to have a couple different phases depending on your health and your active activities a day. Correct. So that’s why you could, it starts out independent.

Jen Franks [00:20:16]:
Correct.

Wes Moss [00:20:17]:
Living, then it goes to assisted living, and then it would go to potentially a skilled nursing facility. Is that, Jen, is it typically, are you in the same, let’s say you buy into one of these or is, are you staying in that one? Let’s call it community residence. Or are you moving rooms or apartments or how would you look at it?

Jen Franks [00:20:40]:
Does it right? Good question. So the CCRC model, you 99% of the time you have to go in through their independent living to follow that model. And so basically they’re going to look at certain criteria to make sure you are meeting independent. You know, you can take care of yourself, capable. But the nice thing about a ccrc, it’s a continuum. So once you commit, you are able to stay there for the duration, which is nice because once you decline, you can go into a more supportive environment such as assisted living. If there’s any cognitive issues, then obviously memory care, skilled care is the main differentiator from a CCRC versus a standalone independent assisted memory care rental. That skilled nursing component can be very vital to making a decision because obviously we don’t know how we’re going to age, we just know we’re going to age.

Jen Franks [00:21:42]:
So that could result in a higher level of acuity than not necessarily all communities can handle.

Wes Moss [00:21:49]:
Let’s start by, I want to ask, paint me a picture about how nice these places are. I think that’s the number one question mom or dad’s going to ask.

Jen Franks [00:22:02]:
There’s a spectrum, that’s for sure.

Wes Moss [00:22:04]:
What’s a really nice place? First of all, what’s a monthly cost of what you would consider a really nice place?

Jen Franks [00:22:11]:
First, a really nice place, like the top end, top tier is going to run you roughly around 10 to 15,000amonth.

Wes Moss [00:22:20]:
And that, well, that in itself is a big difference between those two. So really, let’s call it 15,000.

Jen Franks [00:22:25]:
15,000. Sure.

Wes Moss [00:22:26]:
For a really nice price.

Jen Franks [00:22:27]:
Really nice, yes.

Wes Moss [00:22:28]:
And that is in the independent living area.

Jen Franks [00:22:31]:
Correct. And then of course, you will have additional fees based on care needs. Some are all inclusive. So you break it down even more. There are models, rental models. This is different from ccrc. The rental models, you will have typically a base rate. And then once there are care needs, then we have care cost on top of that.

Wes Moss [00:22:56]:
Sure. Okay.

Jen Franks [00:22:57]:
Yeah.

Wes Moss [00:22:57]:
Now when you say though, let’s say the top end, really nice place, $15,000 a month, how nice are we talking? Like a three star, four star, five star hotel?

Jen Franks [00:23:08]:
Yeah.

Wes Moss [00:23:09]:
How big of a room are we? Is it a full apartment with multiple places with multiple rooms?

Jen Franks [00:23:14]:
They have so many options. The amenity structure is what you’re really paying for. I mean, we’ve got spas, swimming, you know, nice, beautiful pools. The lifestyle is really extensive in terms of what’s offered to the residents. So it’s not just your bingo. We’ve moved far into happy hours and Entertainment and travel and tapping into really, what is it that folks still want to do in retirement Again?

Wes Moss [00:23:47]:
Now these are. So if you have a large amount of money to be able to spend on this and lots of income, the facilities have gotten really nice is what you’re saying, right?

Jen Franks [00:23:59]:
I mean, it’s interesting when I tour communities with the adult children, it’s really appealing to the adult children. So sometimes if mom or dad, they’re hesitant, the adult children are definitely able to come in and say, you know what, mom, I want to move here. So what’s the hesitation? What’s the holdup? But you know, I mean, seriously speaking, there can be a lot of resistance because it’s not something that we really look at in terms of, hey, when I get to a certain point, I want to move from my house. We don’t want to do that.

Wes Moss [00:24:35]:
How often though, Jen? And now I want to ask about the more affordable options here. But the next question I want to ask about is how often do people come to you when the sky is still blue and they’re still feeling pretty good and they’re saying, I just, I think I’m going to do this before I have to do this. Let’s, let’s go though, before that. What is a more. What’s kind of a more average. Let’s call it a three star type experience.

Jen Franks [00:25:02]:
Yeah.

Wes Moss [00:25:02]:
Not five.

Jen Franks [00:25:03]:
Not a five star. You’re going to run around 4,500.

Wes Moss [00:25:07]:
5,000Amonth.

Jen Franks [00:25:08]:
A month? Per month with some care cost ranging, you know, anywhere from 300 to 1500. That’s average.

Wes Moss [00:25:18]:
So the purely. So really kind of. Would you say there are two main models, the rental model and the buy in.

Jen Franks [00:25:25]:
The buy in model.

Wes Moss [00:25:26]:
The rental model, relatively, let’s call it a decent place. If we’re going by hotel ratings here, three star starting around 4,500 up to, let’s say 6,000.

Jen Franks [00:25:38]:
Right. Perfect.

Wes Moss [00:25:40]:
A really nice rental model place, high end, 10 minimum, up to 15k a month.

Jen Franks [00:25:47]:
Correct? Yes. You’re on it.

Wes Moss [00:25:50]:
And then on ccrc, what are the ranges of the buy in? I think that would be pretty big.

Jen Franks [00:25:56]:
Yeah. In metro Atlanta, I would say it’s going to range from around 500,000 to a million.

Wes Moss [00:26:03]:
Okay, 500,000. And these are again, they’re all. I would think they’re mostly still pretty nice.

Jen Franks [00:26:09]:
They’re very nice. Absolutely.

Wes Moss [00:26:11]:
They just matter on how big some of these are. And then do the amenities go into that as well?

Jen Franks [00:26:16]:
The amenity structures there are also very well acquainted. That’s what people are buying into are the amenities, the care that I don’t have to worry about my future because it’s secured through this continuum.

Wes Moss [00:26:30]:
So the continuing care facilities, kind of like one move, you sign one contract and then we’re going to take care of you. How. Whatever you need for the rest of your life.

Jen Franks [00:26:41]:
Right.

Wes Moss [00:26:42]:
How much though? You may have already said this, but what do you think? What is a normal monthly cost? I know that they’re more all about the ccrc. Yeah, yeah. For the Bible.

Jen Franks [00:26:50]:
Yeah. So I mean for independent living, you’re probably going to be looking at possibly 6,7000amonth at a CCRC on top of the upfront fee that you committed to.

Wes Moss [00:27:04]:
But you’re buying the property, you’re buying in and then at some point that does get, you’re able to sell it.

Jen Franks [00:27:10]:
Correct. You know, and if you pass or you have an executor family, you know that they can take ownership and sell it. And it just all varies because the CCRC models, even though they’re a classification in and of themselves, they’re still a little different at each community on how they operate that.

Wes Moss [00:27:31]:
So the, the again we’re not endorsing any of these places so again I’m, I’m not in the, the senior living business so. But just some examples around town of some places that kind of. So people can, they want to go look at these.

Jen Franks [00:27:48]:
Right. For as the CCRC models very well known in the area would be a lynbrook, Canterbury Court, St. George Village. Those are some of the ones that you hear about most for rentals matching that level would be your Corso, Holbrooks, those types of communities.

Wes Moss [00:28:10]:
Holbrook. And there’s multiple Holbrook facilities, several Holbrook.

Jen Franks [00:28:13]:
Communities, Village park and Corso communities.

Wes Moss [00:28:17]:
And Corso is really high end.

Jen Franks [00:28:19]:
Very high end, yes, very high end.

Wes Moss [00:28:21]:
And again those are in the. You call them the rental model.

Jen Franks [00:28:24]:
They’re the rental models. Correct. And people ask me all the time, well, which would fit me best. And that’s really a personal.

Wes Moss [00:28:33]:
It comes down to the finance, comes down to finances. Can’t you have a similar experience, amenity wise, activity wise, being around other people wise, care wise in both models, absolutely.

Jen Franks [00:28:46]:
The only real differentiator in terms of care is going to be that skilled nursing that a CCRC provides.

Wes Moss [00:28:53]:
So really I think today we kind of have a general understanding about the different facilities, continuing care, independent living, the rental type model, the buy in model. Obviously there’s a lot of financial preparation that needs to go into figuring this out.

Jen Franks [00:29:09]:
Right.

Wes Moss [00:29:10]:
Which will dictate really the options and the level of facility that people want to be part of or able to afford. Then the research and selection. I guess that’s where I could see the quagmire start and the quicksand of. There’s so many choices. And do I. How do I. How do I know the reputation of a place? And what’s this? Is the staff to resident ratio really what they say it is? And is there. Do they have nurses and medical staff that’s 24 7.

Wes Moss [00:29:38]:
And what kind of socialization do I. Am I able to do? And how personalized is this? So that research and selection to me seems over. Can very well be overwhelming. And that’s the part that you can really help typically streamline.

Jen Franks [00:29:56]:
Yes, absolutely.

Wes Moss [00:29:58]:
How often, Jen, I’m going back to the question that we didn’t. I wanted to ask you earlier. How often does someone go into a senior living scenario when the sky’s still blue and things are. They’re still good and they’re just saying, I really just want to do this before I. I have a fall or I can’t, nobody’s around. I want to be around people. You know, it’s really one in ten is my guess. Is it one in a hundred?

Jen Franks [00:30:24]:
Yeah. People don’t want to move from home. Yeah, I would say it might be 1 out of 10, maybe 2 out of 10. It just depends on personality. And so I know that’s not expected, but people that are vibrant and love to engage in socialization and they want activities and they want it simplified. Because when you’re living at home, you know, I need to go to church. It’s down the road. Or I’m supposed to go to the movies tonight with my friends.

Jen Franks [00:30:56]:
I’m just kind of run down. I don’t want to drive at night anymore. So then suddenly it becomes very appealing, independent living. Because, hey, everything’s at my fingertips. The pool’s down the hall, all my friends live right here. We can go to dinner every night together. Happy hours on Thursday. I mean, so suddenly now it becomes appealing for a simplified lifestyle.

Jen Franks [00:31:17]:
And I don’t have the upkeep of a home or the maintenance or the yard. And so, yeah, so it’s not really okay.

Wes Moss [00:31:23]:
So I can see that. So the 2 out of 10 that do this when things are still fine, it’s usually somebody that the socialization is really appealing to them and the community nature of it is really appealing.

Jen Franks [00:31:38]:
And they’re in a position where they can take advantage of that independent lifestyle now versus waiting for a crisis and then bypassing independent living and independent living. Senior living is not for everyone. If you’re an introvert, you don’t want.

Wes Moss [00:31:53]:
To do senior lovers.

Jen Franks [00:31:54]:
Yeah. All you’re going to do is stay in your apartment. It may not be necessarily right for you and then suddenly the Taj Mahal feel may not be right. It’s okay to go to one that’s not necessarily. Has all the bells and whistles if you’re just looking for a safe place, you know, so there’s a lot.

Wes Moss [00:32:12]:
And it’s expensive.

Jen Franks [00:32:14]:
It is expensive.

Wes Moss [00:32:14]:
I mean, you’re talking about kind of, kind of this middle range at almost 5,000, $6,000 per month.

Jen Franks [00:32:22]:
Yeah.

Wes Moss [00:32:22]:
It’s gone up for the rest of your life. It’s not insignificant at all. But. Well, the reason I wanted to bring you on is that it. I think to your point, the timeline gets really compressed for most people and eight out of 10 times, according to your math here, it’s a little bit like it is somewhat of an emergency. Hey, we need. I need a spot. Or usually it’s the.

Wes Moss [00:32:50]:
How often is the child coming to you? Is it. Is that eight out? That’s. It’s almost every time.

Jen Franks [00:32:56]:
Yes, that’s the adult child. Adult children are the ones that I’m talking to on a daily basis.

Wes Moss [00:33:01]:
Jen Franks, thank you for educating us on. On the senior living industry.

Jen Franks [00:33:07]:
You’re very welcome.

Wes Moss [00:33:08]:
You can find Jen at serving-seniors.com and you can find me and the Money Matters team at your wealth it’s y o u r wealth.com have a wonderful rest of your day.

Mallory Boggs (Disclaimer) [00:33:26]:
This is provided as a resource for informational purposes and is not to be viewed as investment advice or recommendations. This information is being presented without consideration of the investment objectives, risk tolerance or financial circumstances of any specific investor and might not be suitable for all investors. The mention of any company is provided to you for informational purposes and as an example only and is not to be considered investment advice or recommendation or an endorsement of any particular company. Past performance is not indicative of future results. Investing involves risk, including possible loss of principal. There is no guarantee offered that investment return, yield or performance will be achieved. The information provided is strictly an opinion and for informational purposes only, and it is not known whether the strategies will be successful. There are many aspects and criteria that must be examined and considered before investing.

Mallory Boggs (Disclaimer) [00:34:13]:
This information is not intended to and should not form a primary basis for any investment decision that you may make. Always consult your own legal tax or investment advisor before making any investment tax, estate or financial planning considerations or decisions. Investment decisions should not be made solely based on information contained herein.

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This information is provided to you as a resource for educational purposes and as an example only and is not to be considered investment advice or recommendation or an endorsement of any particular security.  Investing involves risk, including the possible loss of principal. There is no guarantee offered that investment return, yield, or performance will be achieved.  There will be periods of performance fluctuations, including periods of negative returns and periods where dividends will not be paid.  Past performance is not indicative of future results when considering any investment vehicle. The mention of any specific security should not be inferred as having been successful or responsible for any investor achieving their investment goals.  Additionally, the mention of any specific security is not to infer investment success of the security or of any portfolio.  A reader may request a list of all recommendations made by Capital Investment Advisors within the immediately preceding period of one year upon written request to Capital Investment Advisors.  It is not known whether any investor holding the mentioned securities have achieved their investment goals or experienced appreciation of their portfolio.  This information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and might not be suitable for all investors. This information is not intended to, and should not, form a primary basis for any investment decision that you may make. Always consult your own legal, tax, or investment advisor before making any investment/tax/estate/financial planning considerations or decisions.