PS CC with standalone LR

I've scoured the web looking for answers and I'm still kinda confused...I have a standalone copy of LR5 but want to subscribe to Adobe's CC Photography package to get PS. I know I could just get the PS application but it's cheaper getting the package.

I would just like some clarification that if I were to cancel my subscription I wouldn't lose anything I've previously done, or will do, in LR. Or lose LR and all of it's functions altogether for that matter. Is there a way to ensure that? For example, not downloading or upgrading LR through the CC? Would I have to create separate folders for the work I do in the "cloud" LR as compared to my standalone?

As you can see I'm totally confused and any help or suggestions would be appreciated. I'm sure it's not that hard or that big of a deal but I just don't want screw something up by hitting that "buy" button and end up losing everything and/or not knowing how to put it all back if I were to cancel.

Thanks.

Kevin

If you are using LR CC and decide to cancel your subscription you will continue to have LR at whatever version you were on when you stopped paying and it will be fully functional except for one thing, the Develop and Map modules will be disabled. Your catalog(s) will be untouched, you will lose no work and you will still be able to export or print previously edited photos, but you will not be able to edit new photos or change the editing in old photos.

If you have only the perpetual license LR5, when LR6 comes you will have to buy an upgrade if you want to have the latest and greatest - in the past, $80. If you have LR CC the upgrade to the equivalent of LR 6 will be included in the subscription.

The only difference is the license. If you decide to cancel, you would just need your existing license key and you'll have full access.
If you were to upgrade to Lr6 through CC (whenever it is released), then you would have to buy a standalone license for v6 if you decided to cancel.

Thanks tzalman. So if I got this straight, if I use the CC version of LR for edits and cancel, those won't be backward compatible with my LR for editing but just for viewing. However what if I were to just use my current LR5 version and not the CC version for editing and how would I go about making sure I'm using MY version? Don't download the CC version? I know...confusing.

Basicially what I want to do is import my pictures into my LR like I currently do. Do whatever processing I want there, send it off to the CC version of PS to do what needs to be done and then return it to my LR. I really don't even want to mess with the CC version of LR but it's cheaper getting it as bundle compared to just getting PS.

I know my version won't be updated to LR6 and I'd have to buy that as a standalone if I'd like but I'm ok with that.

No, the present LR CC version (5.7.1) catalog should open fine in any version of LR5.x perpetual. But when LR CC upgrades to 6.0 then the catalog won't open in LR5.

I don't believe you will have any trouble sending tiffs or psds from LR5 perpetual to PSCC, but LR may not see it automatically, in which case you would have to set up PSCC as an external editor in LR's Preferences.