No Matter the Age, There’s No Place Like Home

 In Financial Planning

No Matter the Age, There’s No Place Like Home

The word “home” takes on added meaning around the holiday season.

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 plan on aging at 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.

Most people need more than just a retirement strategy — they need an aging plan. This can be a plan for aging at home, aging at a child’s house, a retirement community, etc. 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.

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.

Whether you prefer to live alone, with family members or in a cooperative community, we’re here to help make that a possibility financially. The Resource Center is dedicated to helping seniors stay at home or wherever they choose to go. If you have any questions about where you stand now and in the future, give us a call.

We are not permitted to offer, and no statement contained herein shall constitute, tax or legal advice. Individuals are encouraged to consult with a qualified professional before making any decisions about their personal situation. We are able to provide you with information but not guidance or advice related to federal benefits. Our firm is not affiliated with the U.S. government or any governmental agency. Investment advisory services offered only by duly registered individuals through AE Wealth Management, LLC (AEWM). AEWM and The Resource Center are not affiliated companies. AW12175556

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