Life in declining years poses unique situations and conditions to our lives. There arise unforeseen dangers and unwarranted mishaps without any prior notice. Moreover, in senior years one very naturally needs help and support from others. For these reasons planning for your declining years after your retirement is of superlative importance.
Most of the time our senior loved ones expect necessary help and support from their friends and family but there are almost a quarter of seniors living in the US who are single, widowed and childless, hence practically living alone without anybody to help. Another significant portion of our senior loved ones are living far away from their families due to various reasons hence they are also having to live alone.
For those seniors who have no one to seek help in their senior years, planning for retirement is even more crucial and has to be done with caution and urgency as long as they are able to make the plans and the necessary actions done or delegated.
So, we from Comfort Keepers San Jose ans Silicon Valley have these thoughts, ideas and guidelines to share with our senior loved ones who are still in a position to make plans for themselves and are able to take care of themselves; as soon the days may not remain the same as it is now!
Save money as much as you can for your senior years and for your days after retirement. Although you do not have friends and family to take care of you, you may be able to source help from professional services. According to a 2013 report, an estimated $470 billion dollars worth of senior care are currently rendered by family caregivers. So, for the seniors who are alone, professional help is the only choice.
Organize Your Assets
Make a list of all of your assets, bank accounts and other financial accounts like insurances, mortgages etc. and save it for future. Document your financial details like account names, IDs, passwords etc. Automate your financial distributions like paying bills and other disbursements and save the necessary automation information for future reference.
Prepare Your Financial Documents
Get in contact with a trusted attorney and prepare your will and other financial documents like living trust, health care proxy, or any other document that you may need as per the advice of your financial consultant and accountants.
Choose a Health Care Surrogate
This is especially important for seniors who are looking forward to living alone. You might be able to take actions and plan for your life right now but in future, there may arise some situations when your judgment and cognitive faculty may not work properly and you will need a trusted individual to make crucial health care decisions for you. So, find someone from your acquaintances and make him your health care surrogate.
Be Socially and Communally Active
Staying socially and communally active not only boosts your physical and mental health but also will help to gather support in your senior years. Get involved in various social or religious groups. Join volunteer groups and retirement communities. This way you will have lots of people to get connected with who will be able to help you in various ways after your retirement.
Select Retirement Community and Your Senior Care Provider
It is always a good idea to browse all the options beforehand. Select one that best suits you among the best retirement communities in your region and get connected with them. Or if you want to age in your own home then you should do the same with senior home health care service providers of your choice.
Create a List of Advisors and Keep their Contacts with You
Find all the expert advisors like accountants, financial advisors, legal attorneys and medical emergency professionals and make a list of them along with their contact details. This way you will be able to get help right when you need and in times of emergency.