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.
If you are unable to access any of the news
articles and sources through the links provided in this text, please contact us
to request a copy of the desired reference.
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