For many, — hopefully most — “home” represents security and acceptance. A place to retreat when things don’t go your way; a place to celebrate when they do.
Not long ago, the holidays were the one time of the year when the family reconvened to spend time together under one roof. Now, it’s not uncommon for relatives to share a home year-round. Gone are the days when a son or daughter moved on to college or a career at the age of 18, only to return on special November and December occasions.
For better or worse, boomers are growing accustomed to welcoming back grown children, as well as seniors seeking care from a familiar face.
Retirees typically prefer to live in the comfort of their own home as long as possible, but the best alternative may be moving back in with adult children.
As your financial professional, we focus on helping clients feel confident in their finances now and in the future, and, if necessary, develop contingency plans, because even the best-laid plans can go awry. If we can help you with your retirement income plan, please contact us for a meeting.
[CLICK HERE to read the article, “The ‘elder orphans’ of the Baby Boom generation,” at CNN, May 18, 2015.]
Most people need more than just a retirement strategy — they need an aging plan. An aging plan has two components. First, a place to live that is suitable for seniors, such as a one-story home, preferably with large doorways. The second component is access to people willing to offer help when needed.
[CLICK HERE to read the article, “Retirement: Are Tiny Homes One Big Fix for Senior Housing?” at The Ticker Tape, Oct. 30, 2015.]
While moving in with adult children certainly meets these criteria, there are alternatives. Cooperative communities have been popping up all around the country via shared homes, clusters of homes, condominium and apartment communities.
These communities give residents a network of neighbors who can check in on you, take you grocery shopping or drive you to a doctor’s appointment. Not surprisingly, the housing arrangement seen on the hit TV show, “The Golden Girls” is becoming more prevalent, as retirees pool resources to look after each other and become less isolated.
[CLICK HERE to read the article, “Meet the new Golden Girls (and guys): How boomers are coming up with creative living arrangements,” at The Globe and Mail, Nov. 12, 2015.]
Whether you prefer to live alone, with family members or in a cooperative community, we’re here to help make that a possibility financially. If you have any questions about where you stand now and in the future, give us a call.
We are an independent firm helping individuals create retirement strategies using a variety of insurance products to custom suit their needs and objectives.
The information contained in this material is provided by third parties and has been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed; it is not intended to be used as the sole basis for financial decisions.
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Source: Woods Blog Old