DEAR BRUCE: I am retired with $3,000 a month total income and I have no debt. Because of a progressive medical problem with my wife, we are looking at senior independent living to rid ourselves of daily chores around the house. The entrance fees are very high. They are refundable "under certain guidelines" but it seems we are at their mercy. It would require us giving up our total savings to them up front in the amount of $200,000. What if we give them all of our hard-earned savings and they decide to close up shop? -- T.A. in Phoenix

DEAR T.A.: There is no way I would put all of my money up front. I cannot speak for Arizona but with it being a retirement haven, like Florida where I live, there has to be some pretty heavy competition out there and in Florida there is "no money up front" requirement. I speak from experience in that I had my own mother in one for many years in Florida. I would do some more research and find one that neither wants your life savings nor a long-term commitment from you.