Rivermead

We were completely smitten by the ambiance of this community on our first visit 2 years ago and we love the Peterborough area. Since we are in mid-seventies it seemed logical to go on the wait list for the future and so we did. However, gradually the unpleasant and hidden aspects of River Mead started to emerge. First, it was 9 months later that we found out the main reason for the very high price, especially for what would normally be a lower cost rural community, was the unusual business model. For the last few years around 50 % of the fees have been essentially going into their health insurance budget which is there if your level of care increase without impacting the monthly fee rate. Most similar places take only ~ 30 %. So, unless you are really feeling in poor health, River Mead may not be the best choice. Residents are informed at the beginning of each year exactly how much they can deduct as medical expenses a part of which are tax deductible... but we would not be surprised if this loophole is changed at some point in the future most severely affecting a CCRC like River Mead.Second, It does not help when River Mead hides it supposed not for profit status in its required 1099 tax filing under a different name… the retirement community at Upland Farm. There you will see an extremely lavish compensation package for the River Mead executives. Other similar places post their 1099s right on their website, like Wake Robin, Vt so there is easy transparency for potential residents, especially the ones who are hit with a sudden health or death crisis and don't have time to do all the necessary due diligence before making a huge financial commitment, or they simply don't have the wherewithal to think of asking certain questions.Third, although River Mead is probably the most expensive country retirement community in New England, they are extremely stingy on spending money for cultural activities like speakers and music. In my one conversation with Bill James the CEO at a villa open house in 2019, when I asked about this allocation, he hesitated to answer for a long time seeming evasive, but finally said several thousand. That could mean just 3 K which is chump change compared to the sum of all their fees and what most CCRCs allocate. The marketing director told me much later that it was mostly up to the residents to organize cultural activities at their expense ! At the same time River Mead is unusual in that it does not spend on CARF (meeting accepted CCRC standards), Fitch(financial) or Medicare certifications.... like most similar places. Fourth, River Mead does not provide any choice in meal plans. Everyone has to take 30 or so meals a month regardless of whether they use their allocation or not. To be fair such plans exist in more that half of similar communities, but their are many that have a lot of flexibility. So, if you simply want a light meal, or taste your own specialties or visit a restaurant... you are paying double... all for the convenience of the River management with a "one size fits all". If you are in reasonably good health and you want choice and flexibility in your life but not much hassle and fair pricing ... we suggest you might do what we are doing after recently withdrawing from the River Mead wait list. Simply find a nice condo community which is much cheaper and gives the living flexibility that River Mead does not.