Making your post-retirement wishes clear is an important first step.
Even if your children have already raised children of their own, there’s one more big parenting lesson you can still teach them. It’s not just for their benefit, but yours as well. Talk with your kids about how you want to live the rest of your life. It may be the most important lesson—and gift—you ever give them.
Maybe you’ve dealt with medical or financial crises with your own parents. Maybe you’ve had to make decisions on their behalf, hoping you handled them the way they’d want, but not really knowing for sure. You can prepare your own children for such events, removing their burden of having to guess at what you’d want, and making sure you remain in control of your own life.
It may seem awkward and uncomfortable. It may not be what you want to do today or tomorrow or ever, but the truth is you’ll all feel better when you all know the plan. And it will be one less stress if a crisis ever arises.
Sounds like a good idea, but not sure how to go about it?
Cover these three key areas:
- Finances: You need to balance your desire for privacy over your finances with your child’s ability to step in and help if you need it. Document the accounts you have and what to use them for. Discuss the value in giving your child financial power of attorney or possibly adding them to an account. Explain how you’ve budgeted for your future needs.
- Living Arrangements: How long do you plan on living in your house? Have you thought about options where you can still live independently but maintenance-free, and not put any burden on your kids, should you ever need assistance? If you’re considering community living, help your children understand how a continuing-care retirement community (CCRC) like Acacia Creek offers continuous care should you ever need it. Be proactive and let your children know your plans and expectations.
- Do you plan to have someone come in and help or do you plan to move out of your home? If so, at what point, and where? Home is such a personal choice, you should be the one who decides where it is.
- Medical Care: Should an accident occur or a sickness arise, how will you get the medical care you need? Who will speak for you if you can’t speak for yourself? What are your wishes? What are your concerns? Now, while you are healthy and confident about what you do and don’t want, let your children know.
Some of your decisions may require documentation. Talk to your financial advisor, physician, and other professionals about getting the forms you need, completing them, certifying them when necessary, and getting copies where they need to go.
ACACIA CREEK RETIREMENT COMMUNITY inspires residents to live an active, meaningful life. Our mission as a senior community is to enrich the independence, well-being, and security of our residents through exceptional services and care based on Masonic values.
To learn more about Acacia Creek or our senior housing opportunities, contact us at WWW.ACACIACREEK.ORG/CONTACT
