Families negotiating their grandparent's way into a cheaper retirement home might not be a bad idea, reports the Wall Street Journal.Comment on this story
Some retirees are receiving discounts of 20 to 35 percent on entrance fees in a continuing-care retirement community, according to the Journal. Entrance fees can average $259,000, reports the National Investment Center for the Seniors Housing and Care Industry.
Negotiations can be made on luxury items too, according to the article. Irvin Schorsch III, president of Pennsylvania Capital Management, scored a golf-cart-for-life deal for one of his clients who is moving to a golfing community. Families don't realize negotiating is involved, Schorsch said in the article.
Financial advisors are also becoming more involved because retirement homes were looking into bankruptcy protection and cutting services on staff.