SRES flashcards

32 cards. Read the term and the definition here. The deck at the top of this page is optional.

Go-go years

Early retirement stage, roughly the 50s through mid-70s, when health and mobility allow travel, hobbies and elective moves driven by lifestyle rather than care needs.

Slow-go years

Middle retirement stage when energy or health declines, prompting interest in single-level homes, lower maintenance, and proximity to medical services and family.

No-go years

Late stage marked by limited mobility and frailty, when proximity to caregivers, health care and support services outweighs amenities such as views or golf courses.

Multigenerational household

Living arrangement in which two or more adult generations share one home; it raises requirements for main-floor bedrooms, extra full baths and privacy.

Referral-driven market

Segment in which 50-plus consumers choose agents mainly through trusted referrals from friends, family, physicians or advisors, so reputation and relationships outweigh mass advertising.

Equity-rich, income-poor

Describes older homeowners whose wealth is concentrated in home equity rather than liquid income, making sale proceeds or a reverse mortgage central to funding a move.

Decision-influencer circle

The adult children, financial advisors, attorneys and physicians who often shape an older client's housing decision; agents should ask permission before involving them.

Plain-language communication

Using larger type, short sentences and everyday words with older clients, confirming understanding without a condescending tone or unexplained jargon.

Five Ds of senior moves

Common move triggers: downsizing, death of a spouse, divorce, disability or disease, and distance from family; each creates a distinct emotional and logistical situation.

Rightsizing

Choosing a home that matches current and anticipated lifestyle needs rather than simply a smaller space; square footage may stay similar while layout improves.

Senior move manager

Professional, often credentialed through NASMM, who coordinates sorting, packing, estate dispersal, movers and floor-plan setup for older adults during a relocation.

Estate dispersal options

Methods for unwanted belongings: estate or tag sale, auction, consignment, charitable donation, gifting to family and haul-away, each differing in speed, cost and return.

Capital gains exclusion

IRS rule excluding up to $250,000 of gain for single filers or $500,000 for joint filers on a principal residence owned and used two of the last five years.

Last-time move

The final relocation an older adult makes, typically to a rental, life-plan community or care setting; planning must consider what happens if care needs escalate.

Bridge financing

Short-term funding, such as a reverse-mortgage line of credit or securities-based loan, that lets a client buy the next home before the current one sells.

Relocation stress syndrome

Pattern of confusion, anxiety and withdrawal seen in frail elders after a move; reduced by familiar furnishings, gradual orientation and family presence.

HECM reverse mortgage

FHA-insured loan for homeowners 62 and older; the borrower keeps title and makes no required monthly payments but must pay taxes, insurance and maintenance.

HECM for Purchase

Program letting a buyer aged 62 or older purchase a new principal residence with a large down payment and reverse-mortgage financing of the remaining price.

Step-up in basis

Under IRC 1014, inherited property generally takes a tax basis equal to value at the owner's death, reducing capital gains for heirs who later sell.

RMD starting age

Required minimum distributions from traditional IRAs and 401(k)s begin at 73 for those born 1951 through 1959 and at 75 for those born 1960 or later.

Full retirement age

Social Security age for unreduced benefits, 66 to 67 depending on birth year; delaying benefits to 70 raises the monthly amount about 8% per year.

Medicare Initial Enrollment Period

Seven-month window starting three months before the month a person turns 65; missing it can trigger late-enrollment penalties on Part B and Part D.

IRMAA surcharge

Income-Related Monthly Adjustment Amount added to Medicare Part B and D premiums for higher earners, based on modified adjusted gross income from two years earlier.

Asset depletion underwriting

Method of converting a retiree's eligible assets into an imputed monthly income stream so a mortgage application can be approved without traditional paycheck income.

Aging in place

Remaining in one's own home as one ages, supported by home modifications, in-home care and technology; it is the stated preference of most older adults.

CAPS designation

Certified Aging-in-Place Specialist, a NAHB credential for remodelers and related professionals trained to modify homes for older adults' safety and accessibility.

Continuing care retirement community

Campus offering independent living, assisted living and skilled nursing under one contract, usually requiring an entrance fee plus ongoing monthly payments.

Life care contract

Type A CCRC contract in which monthly fees stay relatively stable if a resident moves to higher care levels; entrance fees are larger and refundability varies.

Fee-for-service contract

Type C CCRC arrangement in which residents pay higher separate rates when they move into assisted living or nursing care, so monthly costs rise with need.

Housing for Older Persons Act

Federal law exempting qualifying 55-plus and 62-plus communities from familial-status discrimination claims, permitting them to exclude households with young children.

Memory care

Specialized assisted living for people with dementia, featuring secured settings, structured routines and higher staffing ratios than standard assisted living.

VA Aid and Attendance

Enhanced VA pension for wartime veterans and surviving spouses who need help with daily activities; it can offset in-home or facility care costs.