A Neglected Part of Retirement Planning
Posted on August 3, 2018
The term “retirement planning” is frequently used in the financial industry and in the media. But what does it really mean? For some, retirement planning
includes strategies for saving and investing to prepare for a future retirement. For others, it may focus more on various methods for tax efficiency and
generating income during the retirement years. Of course, to others, it may have less to do about money and more about the psychology of transitioning into
retirement. Clearly, “retirement planning” is a broad topic.
We would like to encourage you to think about retirement planning from one other perspective. It’s no secret that people are living longer today than before.
A seventy-year-old person in the U.S. today can expect to live another 17 more years on average, with many living well into their nineties and beyond. With
increasing life expectancy comes a greater need for a proactive approach to planning for the later phases of retirement. Yet, this is an area of planning that
is often neglected by financial advisors and the general public alike. After all, long-term care insurance, which is owned by only a small fraction of
retirees, is only part of a plan. It is not, in and of itself, a plan.
As a society, we are still quite reactive in our approach to addressing the lifestyle and health care needs that we may face in our later years. We often wait
until a significant health event occurs before we begin “figuring it all out,” and almost always, this responsibility then falls on the adult children or
other family members who may not have the resources, flexibility in schedule, or emotional capacity to take on such a task.
At Friends Homes, we are passionate about seeing our society become better-educated on the various retirement living and long-term care alternatives and
having the necessary discussions with family members and valued advisors about what you might want for your future. We encourage a proactive approach by
planning ahead—to the extent possible—for the later phases of retirement. You can begin by taking time to learn the differences between aging at home versus
moving to a continuing care retirement community (CCRC) or some other type of retirement living choice.
Closer to Home
At Friends Homes, a non-profit, faith-based CCRC, our residents can live in confidence every day with the comforts and excitement of retirement all around.
Whether that means hosting friends for cocktail hour, traveling more, or taking advantage of the numerous services and amenities right on campus, our
residents are free to enjoy their retirement to the fullest.
We know our residents are planners, and they can rest assured that if or when something ever happens a team of medical experts, who they have grown to know
and love, will be by their side. It’s our pledge to each of our residents.
When you become a resident at Friends Homes, you too can live the ultimate active and independent lifestyle you’ve always imagined for your future self. What
are you waiting for? Ask about how you can join our wait list today by contacting us now.
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