Community living can help you retain independence, quality of life
So it should not be surprising that a move to an independent- or assisted-living community—or a continuing care retirement community—can help you to more fully enjoy your retirement years. Such housing options can provide activities and social interaction, enabling you to be as active and connected as you want to be.
Holidays Are A Good Time to Talk With Parents About Retirement Plans
The holidays are about families coming together to celebrate and look ahead to a New Year. What better time, then, to talk to your parents about their future?
One of the more important—and complex—decisions your parents will make is where they will live in retirement. By initiating this conversation, you can help kick-start the decision-making process to ensure that everyone’s needs and wishes are met.
Staying at Home Requires Planning
Most retirees prefer to live in their home for as long as possible. The idea of “aging in place” and staying in your home can be symbolic of maintaining your independence. However, to paraphrase John Lennon, “life happens,” so it is wise to have a back-up plan.
VA Benefit Helps with Assisted Living Expense
Although Veteran’s Day was last month, I wanted to share some information about a valuable benefit for veterans and their surviving spouses.
If you qualify (see below) the Aid and Attendance Benefit can help cover costs you incur of long-term care at home or in a facility. As of 2014 compensation from this benefit is not dependent on service-related injuries and can provide as much as $25,000 or more in assistance, depending on your income level and whether you are married, single, or a surviving spouse of a veteran, or if you have any dependents.
Cost of Senior Care vs. Access to Senior Care
During my years as a financial planner I would often hear people in retirement say that they had already planned for the latter stages of retirement because they had purchased long-term care insurance. In fact, there was a time when I, too, felt that owning long-term care insurance was a plan.
The Potentially Devastating Impact of a Fall
As described in this New York Time article titled, “A Tiny Stumble, a Life Updended”, life can change in an instant for older adults who fall. Yet, quite often, the impact is felt by close family members as well. This article is a reminder of why it is so important for older adults and close family members- typically the adult children- to be in discussion about how such a situation would be addressed.