As we enter the season most associated with giving thanks and giving back, I have been reflecting on the meaning of the terms “philanthropy” and “charity.” Many of us are moved at this time of year to be generous. We want to express our gratitude for the good things that have come our way, to share in the “wealth,” so to speak. Others are seeking rewards in the form of tax breaks or other incentives.
For many of us, communal living conjures up images of the sixties… complete with fringed jackets and love beads. With memories of the economic meltdown during The Great Recession (2007 to 2012), many of us wonder if we’ll have the financial cushion needed to retire comfortably. Some of my clients are exploring their housing options as they age. Communal retirement living may just be the answer to that financial question.