A popular trend now for senior citizens is aging in place, which basically means just as it sounds — remaining in the home or dwelling where you have lived most of your life as you enter your golden years.
While some senior citizens prefer to relocate to retirement communities or secure spots in assisted living facilities, many others find comfort in the familiarity of the surroundings where they have lived for decades. Let’s explore which options may be best for you.
Long-term care planning can allow you to remain at home
The biggest risk for senior citizens who opt to age in place is safety. But by planning now, you can manage the transitions that may become necessary as you grow older.
For many (but not all) older folks, loss of mobility can be a major barrier to continuing to live independently in their homes. For instance, if your family home is two stories but you no longer can safely navigate the stairs, there are options that can allow you to continue living there.
They might include the following:
- Living solely on the first floor – Converting a former den, office or even your dining or living room into your bedroom might be possible if you also have bathroom access on the lower floor.
- Widening doorways for wheelchair access – Investing in some home modifications can be less expensive than assisted living — and there are sometimes state or community grants that can help cover these modifications.
Below is another option for those considering aging in place.
Invest in a long-term plan that includes home aides
Sometimes, the difference between staying in the home you’ve loved and lived in for decades and being forced into moving into a facility is simply having the means to cover household help and home health aides.
Allotting retirement assets for this purpose can be a game-changer for those determined to age in place. However, none of these decisions can or should be made alone. Discuss them with your spouse, family members and legal and financial professionals to make the best decisions possible to keep you happy and safe.