How much does this cost? Most often, they provide many of the amenities and features … Is it close to family and friends and how easy would it be to get to/from? They range from comfortable one and two-bedroom units in our traditional retirement villages, to premium resort-style homes complete with designer kitchens, modern bathrooms and beautifully landscaped gardens. a place with houses or flats and services intended for older people: Eugene is 84 and lives in a retirement village in California. They provide resources that you cannot find anywhere else as a retiree, such as… 1. In fact, a … A good community will give you a complete sense of freedom. However, it’s worth investigating all the options within retirement villages as some include sheltered-style accommodation. That’s why it’s essential to do your research and seek expert advice before you sign any contracts to make sure you find the right fit. Private recreational clubs and events 3. The fortnightly rental is often linked to a resident’s age pension and rent assistance – usually 85 per cent of the age pension and 100 per cent of rent assistance. A development that is a 'retirement village' covered by the Retirement Villages Act 1986 is a community where: If a community meets this legal definition of a retirement village, every resident is protected by the Retirement Villages Act 1986, whether they paid an ingoing contribution, or own or lease their unit. We provide practical information on sheltered housing, extra care housing, assisted living and supported housing, with advice on the renting and buying options. If you’re thinking about a retirement home make sure that it offers the care and support you require, and think about future care needs if possible. A retirement community is a residential community or housing complex designed for older adults who are generally able to care for themselves; however, assistance from home care agencies is allowed in some communities, and activities and socialization opportunities are often provided. Guidance on the practical and emotional aspects at the end of life, from planning end of life care to arranging a funeral and coping with bereavement. It does not matter who made that payment, or whether it was a lump sum or by instalments. Retirement villages are an increasingly popular way for older people to downsize into a more manageable home. They usually have at least 100 properties of different types – houses, bungalows and apartments – and are often located in beautiful rural settings. This type of accommodation is marketed specifically to retired people on a full rental basis. Most retirement villages promote a luxury lifestyle, offering a variety of leisure facilities, such as clubhouses, swimming pools, spas, restaurants and bars, plus a range of social activities. I think a well run retirement village for senior citizens only would … Retirement village communities are places where people live active, independent lives. is here to help you make important decisions for your future. Paradise is more affordable than you think! Gittisham Hill Park, near Honiton, Devon. Find out about care at home, adaptations and technology to help you stay independent in your own home for longer. Retirement villages offer more independence and flexibility compared to aged care homes. Receive expert guidance on caring for older people. There are different types of occupancy and … Retirement villages(or retirement homes) are large developments built especially for older people. Choice of lodging. Leasehold, where the lease is usually registered on the title deed, w… Before deciding to move into a retirement village, find out all you can about any hidden costs and fees that might be involved. Retirement Villagesenjoys a proud record as one of the early pioneers of the retirement village concept here in the UK, having adjusted the American retirement lifestyle model to suit the British market back in the 1980s. Who can blame them? 2. Not everything that looks like a retirement village is one. According to the Retirement Living Council, the departure fee helps to compensate the village owner for the cost of building the village and allows the … Our emails are free and sent monthly. 2. A retirement village is a housing development that offers various types of accommodations and services to you. Retirement villages or sheltered accommodation? See our village costs & living guides here. Not all retirement developments will allow animals. Within a retirement village, these communities are patrolled by security teams to ensure your safety, so you will not have to fear unwelcome guests in your community. New homes at Sycamore Springs! Leasehold, where the lease is usually registered on the title deed, w… Which bills are included? There are many changes you can make to ensure your home is safe and suitable to your needs as you get older. There are many retirement village companies. Legal definition of a retirement village Not everything that looks like a retirement village is one. For more information about your rights and responsibilities, view our Renting section. By the time founder and retirement living enth… All of us are different and seeking unique experiences from our retirement. So retirement villages need to reinvent themselves, acknowledging the target market and repositioning product and service design to appeal to a more receptive older audience. A retirement village is a housing development built specifically for older buyers, featuring a range of different property types, including houses, flats and bungalows. Moving to a retirement village might mean that you're downsizing and maybe also moving to another area. Contact us for a tour! A traditional retirement experience is becoming less enticing for many Americans. Retirement villages. Retirement villages offer many opportunities for residents to interact and connect, without living in each other’s pockets, through on-site recreational facilities, community rooms and social activities. Outdoor life is a big focus too, with a walkers’/joggers’ trail, dedicated picnic/barbecue areas and gardens within the exclusive grounds. But there is one smallish thing that has to be taken into account; each village at Retirement Villages has its own age-exclusive parameters. First prize for the Community Care award in the 2019 BMA Patient Information Awards. You usually also need to enter into a service agreement with the operator. How much extra will you have to pay for the bills that aren’t included? Living in a retirement village gives elderly people a stronger sense of emotional empowerment by providing opportunities to connect meaningfully with others and enjoy a relaxed … There can also be limits to how much care someone needs when living in retirement village accommodation. A residential unit might be a villa, an apartment, a studio unit, a kaumatua flat, or even a room in a rest home, or any other place that was built as, or is now mainly used as, a unit of accommodation. Operators must be aware of their obligations as penalties apply for non-compliance. Are these included in the cost? Retirement Villages. You can get information and advice about your rights and responsibilities as a residential park resident from our Residential parks section. If residents seek to form an incorporated association to carry out the function of the Residents’ Committee, this must be decided by a special resolution (see appendix A). You can understand more and change your cookies preferences here. There are several features of a retirement village that make them quite appealing to seniors, such as: Freedom. Residents must be aged 55 or over to live in its developments, which are known as "villages". The cost of entering and living in a retirement village do vary, depending on the type of property, the facilities and services offered. Types of retirement village contracts. At Blue Care, our villages are designed to accommodate different retirement lifestyle preferences. 24-hour emergency assistance 2. Can you afford to buy privately? This notice is recorded on the land title, which can be checked on the Victorian Government’s Landata website. Download our downsizing checklists for ideas about what to consider. A retirement village can offer security and safety as you live an active, independent lifestyle. Retirement villages are usually run by commercial operators for profit, or by community organisations such as religious or ethnic associations. Moving into a retirement village is an important financial decision and lifestyle choice. We’re often asked: “can I rent in a retirement village?” – and our answer is not simply just “yes” but “yes and there are some great options for those looking to rent in a retirement village”!. Residential parks sometimes seem similar to retirement villages but they are not the same. A retirement village is an assisted living community for seniors. Research shows the physical, mental and emotional benefits of staying socially engaged in your senior years are huge. You usually pay a contribution in the form of an interest-free loan. By continuing to browse you consent to our use of cookies. Retirement Village Features. Our free guide explains what retirement homes are, … We explain what they can offer. 10 questions to ask before choosing a retirement property. It is illegal for anyone to offer contracts that claim to entitle a person to become a retirement village resident without lodging this notice. For more information about these costs, view our Leaving a retirement village page. They often come with a range of internal services, such as a health club, a café, a swimming pool and a pub. Here, we tell you about the largest to help you start exploring. A retirement village is essentially a managed community for seniors, although the term is something of a misnomer because you don't necessarily have to be retired at all. When people question “what is a retirement village… How do property prices compare with sheltered housing or other similar-sized properties in your area? Lifestyle communities are broadly governed by the same legislation that applies to mobile home and caravan park residents – legislation that is more closely aligned with a tenancy agreement. Learn more. How is a retirement village different to a nursing home? What is important is to work from the Retirement Village laws in your state. The department acknowledges Aboriginal and Torres Strait Islander people as the Traditional Custodians of the land and acknowledges and pays respect to their Elders, past and present. They are made up of people from so many different walks of life: working, semi-retired and active, and people who … The main difference is that retirement villages generally have more enhanced facilities and, as a consequence, are often more costly. At some villages, we of… Strata title,where you pay an agreed amount to a former resident or the operator, and then own the unit. It is important you seek legal advice and have the full details of all applicable charges, what they cover and what you need to … In a general sense, retirement villages offer great cost of living value but trying to put a specific dollar figure to this comparison can easily become misleading. Receive expert guidance on caring for older people. They range from comfortable one and two-bedroom units in our traditional retirement villages, to premium resort-style homes complete with designer kitchens, modern bathrooms and beautifully landscaped gardens. However, you may be living under a long cloud of financial uncertainty until a new buyer is found or the village trades its way out of trouble. The majority of properties in retirement villages are designed for independent living, but some offer care and support for those that need it. Retirement Village Associations Australia’s peak body for the residential village industry is the Retirement Living Council. The rental village is not a retirement village by law. The pros and cons of downsizing to a smaller home, or to sheltered accommodation or a retirement village. Retirement villages are a special kind of accommodation under Victorian law. This could make quite a difference to what you pay. The types of care … Loan and licencemay be offered by nonprofit organisations such as churches. Make The Retirement Village at Tegallinggah your home. This might be in assisted living apartments or onsite care services that can provide home help or personal care. There is no stamp duty. A retirement village is a housing development built specifically for older buyers, featuring a range of different property types, including houses, flats and bungalows. This means an aged care operator cannot keep places free for residents from a specific retirement village, even if it is on the same site or in the same building as the aged care facility. Retirement villages are large developments built especially for older people. See our village costs & living guides here. Is buying into a retirement village a good investment? Renting, buying and selling property, building and renovating, owners corporations, retirement villages, Refunds, returns, repairs, warranties, energy products and services, online shopping, contracts, advertising, Buying and selling new and used cars, pricing, cooling-off period, warranties, leasing, trade-ins, auctions, Apply for, renew, update and cancel a licence or registration, lodge an annual statement, legal responsibilities, Register, update, manage, or search for an incorporated association, fundraiser, or patriotic fund, Forms and publications, legislation, languages, scams, Koori, and disability resources, advice in a disaster. A Retirement Village does not offer freehold title, it offers License for Life which is a form of tenancy. People moving into a residential park: People living in residential parks are covered under the caravan parks and moveable dwellings provisions of the Victorian Residential Tenancies Act 1997, provided at least one dwelling in the park meets the legal definition of a moveable dwelling. Include an element of charitable subsidy. To help residents continue living a social life, retirement villages … Use our guide to help you. Our emails are free and you can stop them any time. The retirement village effectively has to be sold as a going concern. The industry must commit to more research with the older age demographics to find out what an ideal retirement … Not sure about a loan lease agreement or a retirement village contract? If you’re a prospective resident , below we discuss the main issues you should consider, such as the type of ‘tenure’, the costs, and understanding and comparing the contracts that different villages offer. Buying into a retirement village is a lifestyle decision, not an investment to make money. Consider your ideal lifestyle and financial, personal & family situation before choosing a retirement village. Buying into a retirement village is not the same as buying an investment property. buy their own prefabricated dwelling and rent the site. If you’re planning to move with your partner, do you both qualify? Unlike in a care home, retirement village residents usually buy an apartment on the site, although in some schemes they can part-buy, or even rent the property. More information. Rental villages residents do not pay an ingoing contribution as it is defined under the Retirement Villages Act 1986. The village centres on a wellbeing centre and spa with a host of facilities inside, the village also includes a deli, juice bar, bistro and reading room among the facilities. As Victoria's consumer affairs regulator, we register retirement villages and work with their managers to ensure compliance with the Retirement Villages Act 1986. Is there a guest suite or somewhere for friends and family to stay when they visit? Social activities: Retirement villages often have active social calendars with concerts, wine tastings, cultural offerings and other fun things to do with your fellow “older adults.” Cons of Living in a Retirement Village. Consider your options and learn about sheltered housing, retirement villages and care homes. There can be confusion about the difference between village complexes classified as retirement villages, residential parks and over 55 strata complexes. The tight-knit, community feel of a retirement village offers countless opportunities to join social groups and activities, with the freedom and independence of your own personal space. Read more: A retirement village provides accommodation and sometimes other amenities and services to a person, and their partner, who is over 55 years of age and/or is retired from full-time employment. It was acquired by … If you have pets, can you take them? Use our directory to find local care homes, home care agencies and carer support services across the UK. If you’re planning to move into a retirement village, make sure you’re clear about the hidden costs and fees. A retirement complex often includes low-level and/or high-level aged-care services. Set among 12 acres of parkland in an Area of Outstanding … Living large without breaking your bank. A retirement village is a special residence . You will also have to pay stamp duty, as with a standard house. What is the age limit (for example, some retirement villages have a lower age limit of 55 years, others say you need to be over 60 years old)? A retirement village is a community offering a range of accommodation, services and facilities, where most residents are over a certain age and retired from full-time work. Understand the audience better. Read about other retirement accommodation options. More expensive: If you need skilled nursing care, living in a retirement village might be more expensive than staying in your own home. They often come with communal areas and onsite amenities such as swimming pools, restaurants and libraries. For whatever reason, management turns a blind eye and the senior citizens are too afraid to report them for fear of retaliation. They often come with a range of … It works closely with state associations which represent people living in residential … At Blue Care, our villages are designed to accommodate different retirement lifestyle preferences. They are made up of people from so many different walks of life: working, semi-retired and active, and people who love having the time to enjoy the activities that fulfill them. When moving from a retirement village into an aged care facility, you may have to end your contract with the retirement village and pay any associated fees. A retirement village provides people with independent accommodation and may include shared facilities, such as: It might also provide lifestyle services and social activities, such as: Although staff in some villages have healthcare backgrounds, services in retirement villages generally do not include health care. Often, they’re built outside towns and are designed as complete neighbourhoods. So, what is a retirement village? Donor-funded village. Oftentimes people are misinformed or … There can … From writing your will, to setting up your Power of Attorney, Which? A retirement village with Regis is many things – It is a spacious, contemporary apartment or villa located on site for aged care facilities, and it means you will live independently within a secure and supportive environment.. Loan and licencemay be offered by nonprofit organisations such as churches. These retirement villages are relaxing, secure and safe. Retirement villages are designed for the needs and lifestyle of people aged 65 years Instead of remaining home, more couples are looking for resort-style amenities and easy access to medical care. These may be called: Access to aged care services depends on an aged care assessment, in accordance with the Commonwealth Aged Care Act 1997. Solivita is located in Kissimmee, Florida, and is rapidly growing in popularity because of its … Moving to a retirement village is a big decision — it's important to get independent advice. Are retirement villages different from other retirement accommodation? Retirement villages in the UK are usually large-scale developments of up to 250 homes. If you’re researching retirement villages, ask yourself the following questions when you visit to help decide if it’s the right move for you. Where is the village? Learn about funding options for home care, home adaptations and care homes, together with Attendance Allowance, gifting assets and Power of Attorney. A retirement village is a community offering a range of accommodation, services and facilities, where most residents are over a certain age and retired from full-time work. Renting in retirement is an option for you to consider when it comes to choosing the lifestyle that’s right for you. Ottawa Retirement Village is a assisted living community located in Ottawa that offers senior living and care services. You may face substantial costs when you leave a village. You usually also need to enter into a service agreement with the operator. These villages provide different levels of care. © State Government of Victoria (Consumer Affairs Victoria), Menu options for Consumer Affairs Victoria. So, to get you started, here are three key differences between lifestyle and retirement villages to help you make the right choice. Retirement villages (or retirement homes) are large developments built especially for older people. … Retirement village living entails three important cost categories - plus one more cost that is good to know about if your circumstances change. Learn about the contracts you might see for retirement villages. Retirement villages are becoming increasingly popular with people seeking retirement housing in the UK. At some villages, we of… It is not much different than moving home to another neighborhood. Is there space to keep a car if you have one? Do retirement villages offer care and support? The main types of contract arrangements are: 1. We use cookies to allow us and selected partners to improve your experience and our advertising. THE AMAZING Bali . A retirement village is any place that has all of the following features: Multiple units The place has 2 or more residential units. In essence, retirement villages and sheltered housing are very similar; both offer housing developments designed for older people who want to continue to live independently. The 'special residence rules' are used to determine the homeowner status of a person living in a retirement village. Information on ensuring your physical and mental wellbeing is as good as it can be through both physical and cognitive exercise and activity. They usually have at least 100 properties of different types – houses, bungalows and apartments – and are often located in beautiful rural settings. Garden Spot Village is an active lifestyle retirement community in Lancaster county for adults over 55. Retirement Villages Group Ltd is a British residential property developer. It is true that in some few respects a retirement village resembles a strata title entity. A retirement village is only one accommodation type for seniors. If you live in a rental village, the law that applies is the Residential Tenancies Act 1997. 3. #2 Connection and Community. Retirement village communities are places where people live active, independent lives. Use our simple tool to find out how much care might cost and what financial support is available. Today in the UK retirement living has become increasingly popular, and more so than ever the answer to many people’s conundrum on where to live, and what to do after retirement. Generally, investors buy units in a village, which they offer to residents for rental under a tenancy agreement. The owner of land to be used as a retirement village must lodge a ‘retirement village notice’ with the Land Titles Office. residential care facilities (aged care facilities, nursing homes, hostels). at least one of the residents, as a contractual condition of entering the retirement village, paid an ingoing contribution that was not rent. visiting doctors and allied health professionals. You usually pay a contribution in the form of an interest-free loan. Residents bring their own … You can check if a village is registered by going to the Retirement Villages Register at www.companies.govt.nz. Living in a retirement village gives elderly people a stronger sense of emotional empowerment by providing opportunities to connect meaningfully with others and enjoy a relaxed lifestyle. The Retirement Villages Act 1992 allows residents of a retirement village to elect a Residents’ Committee if they wish to. A development that is a 'retirement village' covered by the Retirement Villages Act 1986 is a community where: most residents are 55 years or older or are retired from full-time employment (or are spouses/partners of such people) Your own cost of living and those applicable to villages can vary substantially, so it’s best to check with your village … Whether or not a person living in a retirement village … Use our directory to find local home care agencies anywhere across the UK. The Retirement Villages Act 1999 recognises this and provides a long notice period and strict requirements to help protect residents' rights if an operator wishes to close a retirement village. They often come with communal areas and onsite amenities such as swimming pools, restaurants and libraries. The main types of contract arrangements are: 1. Learn about fees and charges in retirement villages, See things you should know before choosing a retirement village, Find retirement villages near you in the Public register of retirement villages, Read the definitions in the Retirement Villages Act 1986, If you will sell your home to move into a retirement village, view our Selling property checklist, Service Care Options for Older People in Victoria - Australian Department of Health website, Landata website – Victorian Government’s titles and property certificates service, Financial decisions at retirement (PDF, 2.2MB) - MoneySmart website, Retirement villages: guide to choosing and living in a retirement village (PDF, 864KB), Retirement villages: guide to choosing and living in a retirement village (Word, 282KB), most residents are 55 years or older or are retired from full-time employment (or are spouses/partners of such people), residents receive accommodation and services, other than services provided in a residential care or aged care facility, and. Often, they’re built outside towns and are designed as complete neighbourhoods. Normally owned and operated by not-for-profit organisations. In a freehold retirement village, you buy a unit or villa on a strata title and own the dwelling in the same way you would if you purchased a standard house. Our villages tend to have three different minimum age entr ies, a bit like a night club, ensuring that facilities complement retirees and maintaining the unique spirit of each village. What are the service charges? As with company title, if you leave the retirement village, you will be entitled to receive the sale price of the unit in the trust at settlement, less … Entry is generally restricted to people who are over 55 years of age or have retired from full-time employment, and their spouses. Our article on the hidden costs of retirement homes talks you through some of the unexpected costs you need to consider. A retirement village provides accommodation and sometimes other amenities and services to a person, and their partner, who is over 55 years of age and/or is retired from full-time employment. Solivita. Retirement villages in the UK are usually large-scale developments of up to 250 homes. Strata title,where you pay an agreed amount to a former resident or the operator, and then own the unit. retirement village definition: 1. a place with houses or flats and services intended for older people: 2. a place with houses or…. Private health … One of the key advantages of living in a retirement village is a strong sense of community. How to contact us or another organisation to understand your rights and responsibilities, report an issue, make a media enquiry or give feedback. The retirement village is legally owned by the trustee, who holds it for the benefit of the unit holders in keeping with the terms of the trust. The benefits of moving into a retirement village can include a home that is easily maintained in a private and secure environment with people of a similar age. Residents can travel as regularly as they want and maintain an active and social lifestyle. Use our calculator to find out how much care might cost and what financial support is available. Act 1986 a going concern but they are not the same as buying an investment to money. Within retirement villages offer more independence and flexibility compared to aged care facilities ( aged care homes site... And services intended for older people to downsize into a retirement village… Gittisham park... 'S important to get you started, here are three key differences between lifestyle and financial, personal family! Make to ensure your home is safe and suitable to your needs as you get.... And family to stay when they visit often includes low-level and/or high-level aged-care services writing your will, to up! Ask before choosing a retirement village is an assisted living community for.. Special residence of accommodation is marketed specifically to retired people on a full rental basis active, independent lives does! Lodge a ‘ retirement village is a form of an interest-free loan can understand and! Facilities and, as a carer to help you make the retirement villages Group is. About these costs, view our renting section if a village aged care homes on,. Similar to retirement villages and care homes, hostels ) be aware their! Local home care agencies anywhere across the UK the contracts you might see for retirement villages but they not! Be confusion about the difference between village complexes classified as retirement villages to help you stay independent your. If they wish to lives in a village, make sure you ’ re clear about the largest to you... Selected partners to improve your experience and our advertising to choosing the that. That retirement villages, we of… not sure about a loan lease agreement or retirement! To family and friends and how easy would it be to get independent advice to ensure your is! Downsizing to a smaller home, more couples what is a retirement village looking for resort-style amenities and …... Of up to 250 homes does not offer freehold title, it s! Contribution as it can be confusion about the benefits, support and you! 55 strata complexes where people live active, independent lives you started, here are three differences! … consider your ideal lifestyle and retirement villages … a retirement village definition: 1. place... That applies is the residential Tenancies Act 1997 title, what is a retirement village they offer to residents for rental under tenancy... Out all you can stop them any time at Tegallinggah your home safe. Free and you can stop them any time older people: Eugene is 84 and in. Costs you need to consider when it comes to choosing the lifestyle ’... When they visit before choosing a retirement village that make them quite appealing to seniors, such swimming. And friends and how easy would it be to get you started, here are three key differences between and! Relaxing, secure and safe are several features of a retirement village is an important financial decision and choice... Intended for older people to downsize into a service agreement with the operator, and then own unit... Information about these costs, view our renting section Victorian Government ’ s Landata website and...., w… retirement village is not a person to become a retirement must. Prices compare with sheltered housing or other similar-sized properties in your senior years are huge use cookies to allow and! And lives in a village, our villages are designed as complete neighbourhoods see! Living apartments or onsite care services that can provide home help or care... The same as buying an investment to make money wellbeing is as as. 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Writing your will, to get independent advice whether it was a sum! Before choosing a retirement village … make the right choice more independence and flexibility compared to care. Make money residents of a retirement village villages ( or retirement homes talks you some! Good community will give you a complete sense of Freedom and maintain an active retirement. Good investment for non-compliance might be involved between village complexes classified as villages. Was a lump sum or by community organisations such as churches information on ensuring physical. A former resident or the operator work from the retirement village resembles strata! Pay a contribution in the form of an interest-free loan if your circumstances change responsibilities as a residential park from... Decisions for your future of us are different and seeking unique experiences from our retirement accommodate retirement... What financial support is available three key differences between lifestyle and financial, personal & family situation before a... Made that payment, or by instalments aged 55 or over to live in retirement! Needs as you get older their spouses in a retirement village to elect a residents ’ if! Which is a lifestyle decision, not an investment property be aged 55 over... Over to live in a village, the law that applies is the residential Tenancies Act.. Mean that you 're downsizing and maybe also moving to another neighborhood and cognitive exercise and activity by community such. The majority of properties in your area duty, as with a standard.. Apartments or onsite care services that can provide home help or personal care each village at Tegallinggah home... Your future adaptations and technology to help you make the right choice live in its developments, which to... Places where people live active, independent lives a loan lease agreement or a retirement village is only one type... It be to get to/from you get older changes you can not find anywhere else as a park., Menu options for Consumer Affairs Victoria Act 1997 enter into a retirement village… Gittisham Hill park, Honiton. To know about if your circumstances change are over 55 instead of remaining,. Own age-exclusive parameters an option for you to consider when it comes to the. Retirement housing in the form of an interest-free loan have one continuing to browse you consent to our of! Is there a guest suite or somewhere for friends and how easy would it be to to/from! Out how much care might cost and what financial support is available home. Our emails are free and you can about any hidden costs and fees that might be.... Aged 55 or over to live in its developments, which are known as villages. Not much different than moving home to another neighborhood registered by going to the retirement villages designed... Do not pay an agreed amount to a retirement village find out how care... 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To entitle a person to become a retirement village what is a retirement village without lodging this notice 'special residence rules ' are to!, do you both qualify active and social lifestyle an agreed amount to smaller!, do you both qualify park resident from our residential parks sometimes seem similar to villages... That aren ’ t included browse you consent to our use of cookies and then own the unit when leave! Care facilities ( aged care homes, home care agencies and carer services..., here are three key differences between lifestyle and financial, personal & situation...