How to help you parents plan for their retirement #1 Where would they like to live?
When it comes to deciding on where to settle in retirement, their options are as follows:
- Stay where they are
- Sell their family home and either purchase or rent a smaller property in an apartment block, sectional title development, or retirement village.
- Move in with, or closer to, family
If your parents are strongly opposed to the notion of relocating to a retirement village, you will need to discuss the practical and financial implications of staying put in the family home. Cooking, cleaning and gardening all get much more difficult as we age, and keeping up with home maintenance can be both onerous and costly. The chances are, they’ll need to deal with rust, rising damp, leaking roofs, and rotting timber frames, or replace worn carpets and curtains, all of which will make a substantial dent in already tight budgets. Many think that staying put is the most cost-effective way to retire, but the costs of maintaining a property – both financial and otherwise – soon mount up, and those big bills will be a reality for many years to come.
Click below to read more:
- Where would they like to live
- Pride & Prejudice
- Letting go of the past
- Vulnerability to Crime
- Prevention is better than Cure
- Fear about health
- Aging in Place
- Loss of dignity
- Loneliness and isolation
- Money matters
- Leaving a Legacy
- Fear of outliving their retirement funds
- How to help you parents plan for their retirement full blog
At Evergreen Lifestyle we’re committed to ensuring that retirement is a happy and fulfilling chapter of one’s life. We have been working with the Life Right purchase model since 2008, and believe that we understand it better than most.
To find out more about how we can help your parents to retire happy, and free from the stress of financial worry, please contact contact Sharon today on 087 808 7000 or email email@example.com.