How to Plan for Brooksby Village Financially
If you or a loved one is considering a move to Brooksby Village in Peabody, Massachusetts, you’re not alone. With its beautiful campus, vibrant social calendar, and continuum of care, Brooksby Village is a popular choice among North Shore seniors looking for what’s described as “easy living” during retirement.
But as you explore your options, a major question looms: How much will it cost—and will it meet my needs?
Powwow, LLC specializes in elder care financial planning for families. Whether you’re a part of the Sandwich Generation helping a parent transition or preparing for your own next chapter, I can help you evaluate your options—including planning for the entrance fees, monthly costs, and long-term care associated with communities like Brooksby Village.
What Does Brooksby Village Cost?
Brooksby Village is a continuing care retirement community (CCRC), which means residents need to factor in the costs of:
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An 90% refundable entrance fee.
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A monthly service fee, which covers housing, utilities, meal plan, and various conveniences and amenities.
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Personal discretionary expenses, which covers your normal spending, such as the costs of clothing, insurances, travel, cars, personal care, etc.
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Long-Term Care, which follows a separate fee schedule. Once a resident is no longer managing well independently, it may make sense to transition to their assisted living, memory care, or skilled nursing units.
For independent units, the costs largely vary based on the size of the apartment, view, and location on campus. That said, purchasing a unit can range anywhere from about $100,000 to $1,000,000! See their pricing schedule here.
💡 Did You Know?: Many families are surprised to learn that the entrance fee is often funded by the sale of a home or through strategic liquidation of investments.
How Financial Planning Can Help
A move to Brooksby Village is more than a lifestyle decision—it’s a financial one. Our fiduciary financial planning services can help you:
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Model long-term affordability under different care scenarios
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Plan for rising healthcare costs and inflation over time
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Understand tax implications of drawing from IRAs, 401(k)s, or brokerage accounts
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Incorporate spend down and tax strategy into estate planning and legacy goals
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Coordinate with adult children and other trusted parties
At Powwow, we use eMoney financial planning software to guide thoughtful, personalized conversations with clients and their families, because elder care planning is rarely one-size-fits-all. Together, we explore the complex “what-if” scenarios that so many families face:
What if you choose to keep the house and bring in home health care instead of moving to a community like Brooksby Village?
What if one spouse begins to need full-time care while the other remains independent at home?
What if you implement tax-savvy withdrawal strategies, or consider Medicaid planning as a long-term safety net?
What if your investment strategy remains aggressive, or shifts toward a more conservative approach as care needs grow?
To bring clarity and confidence to these decisions, we run 1,000 Monte Carlo simulations using your actual financial data. This technique stress-tests your plan against a wide range of market conditions, showing how your finances might perform in best-case, median, and worst-case scenarios. It’s not just about predicting the future—it’s about preparing for it, with insight into how your choices today shape the care, independence, and peace of mind you’ll have tomorrow.
Why Work With a Local Fiduciary Financial Advisor?
I know the costs and culture of local communities like Brooksby Village because I have relatives and clients that live there! My office serves families across Essex County, Greater Boston, and beyond. So while our planning will address your many financial questions, I’m happy to share my own experiences and observations related to living at Brooksby.
Ready to Talk?
Whether you’re actively planning a move to Brooksby Village or just beginning to explore elder care options, Powwow is here to help.
