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Month: August 2022

Preparing For Your Future Long-Term Needs: A Guide

For many of us, thinking about the future can come with a lot of stress and worry. Even if you have savings for retirement, it’s impossible to foresee what issues might arise down the road. Medical bills, home repairs, and changes in Social Security benefits are all possibilities that can eat into your savings. If you or your partner should need long-term care due to an injury or illness, savings can evaporate.

Fortunately, there are some ways you can prepare. Lifestyle changes can maximize the odds of living longer without long-term care, while building up the savings account can make more options available. The key is to think carefully about how you want to proceed and to look for the best ways to make changes that won’t come at the cost of comfort or safety. The following tips can help you get started, courtesy of Aspen Senior Care.

Live Healthier

When it comes to planning for your future needs, sometimes it helps to look at your lifestyle. If you have health or mobility issues now, what will the next five or 10 years look like? Long-term care is often necessary for seniors who cannot traverse their home safely on their own, or for those who suffer a fall or injury as a result of their disability.

Make positive lifestyle changes now because it’s important to do so. Diet and exercise can play a pivotal role in staying healthy. Be sure to talk to your doctor about the best ways to create healthy habits.

Consider the Cost

Long-term care isn’t just expensive, but many of us dread the idea like it’s some kind of surrender. If independence is important, and the current home can continue to be a safe place to live with minor modifications, then planning on staying in the home for as long as possible can be worth it.

Don’t be afraid to admit what you’ll need help with. A housekeeper coming in once or twice a week to help with the chores that have gotten to be more of a chore can be a godsend.

An in-home senior-care service like Aspen Senior Care in Utah Valley can fill in the gaps and keep you in your home longer than without visits. They can also provide an in-home no-cost no-obligation assessment to help you address problem areas in the home.

Reduce the Risk of Injury

Take a look around the home to see if there are changes that can be made now. Home modifications have become very popular as many more seniors are looking to remain in their own homes for as long as possible.

The bathroom and kitchen are often problematic areas. There are easy fixes that can be done, like adding more lighting and removing clutter and items like throw rugs that can lead to a fall. In the bathroom, add a shower seat and grab bars to aid in your balance in both the shower and around the toilet.

Need a new shower stall or need to do something about water pressure or move pipes? For major projects, look for certified plumbers near me to take on the job. Compare rates and look at reviews to get one who’s trustworthy. With the right information, you can confidently make an informed decision.

Look at Finances

Many seniors rely on their retirement fund to pay for long-term care costs, but it’s imperative that you understand what your needs will be when you retire. Look at your income versus expenditures, and come up with a budget. Making a realistic cut in your spending now will help you figure out how much you’ll need in the coming years and what you can and can’t live without.

Even with health insurance and Medicare, long-term care can be costly, as these programs don’t pay for everything. Having a cushion in your savings account will be extremely helpful, and one of the best ways to pad it quickly is by selling your home.

If this is an option, consider downsizing to a smaller place that will save you money and work better for your health and safety needs. If your home is paid off or can list for a higher price, that’s a lot of cushioning for future needs.

Thinking about the future can be stressful, so it’s important to look for ways you can reduce those feelings and stay focused. Careful planning is necessary to ensure that you and your partner will be comfortable for years to come. It’s never too soon to prepare for every eventuality, including the need for long-term care.

Aspen Senior Care provides in-home senior care services and senior daycare to Utah Valley. Get a no-cost, no-obligation in-home assessment today!

About the Author

Annabelle Harris is the creator of Elders.Center. Her goal is to help soon-to-be seniors and already-seniors move gracefully into their golden years with less fear and more confidence. The site features a plethora of resources to help answer common and not-so-common questions about aging.

Tying the Knot in Your Golden Years: 8 Tips for Retirees

Elderly Couple Kissing

You were content preparing for retirement on your own – but your vision of the future changed when you met someone truly special in your golden years. Getting married in retirement can be the beginning of a beautiful new phase of your life! If you’re a retiree who has recently tied the knot, you might be wondering what comes next. These guidelines will help the two of you navigate situations that you may face after getting married in retirement.

Consider Opening a Business

As you and your new spouse build your life together, you’re probably making some big decisions about how to manage your finances. Perhaps both of you have saved diligently for years, but now that you’re married and enjoying your retirement, you want to have a little extra income coming in so that you can treat yourselves and have fun. Why not start a business together? It just might bring you closer!

If you do choose to start a business, how can you get the word out about your products and services? You’ll need to engage in marketing. In addition to going to local business events, putting up flyers, and building a website, you should also design a standout logo for your business. This is a great way to make a lasting impression on customers. You don’t need to be a graphic designer to make a custom logo – simply use a free logo maker with pre-made templates that will allow you to add text, images, and colors.

Choose the Right Place to Live

If both you and your spouse owned property before getting married, you may be wondering where you should live now. Consider the value of each property, the connections you have in your current neighborhoods, where you’ll have better access to healthcare and senior support services, and what kinds of amenities you enjoy. Think about what would be the fairest arrangement for both of you – you don’t need to rush this decision.

An Elderly Couple smiling and holding flowers

Update Your Insurance Policies

Dealing with health insurance and long-term care insurance in retirement can be tricky – and this is especially true if you get married in your golden years! You may want to talk to a health insurance advisor who offers assistance to seniors who need help managing their Medicare plans. When it comes to long-term care insurance, you could research companies that provide shared policies for senior couples. It’s important to choose policies that work for both of you.

Decide How to Combine Your Finances

After getting married in retirement, you may feel conflicted about how to manage your finances. At this point, both of you may have been living independently for quite some time, and completely combining your finances may not be worth it. But you may want to open a joint checking account that you can both draw from when necessary. Furthermore, you should take the time to establish a budget and determine what both of your financial responsibilities will be. This process can take some time, so don’t feel like you need to make a decision overnight.

Taxes and Social Security

If you get married in retirement, your tax filing requirements will change. You may also need to change the way you manage your Social Security payments. If you’re not sure what to do next, hiring a financial advisor who works with seniors is your best bet. They will be able to walk you through your new tax filing responsibilities and explain how your Social Security payments might change. Furthermore, if you have questions about combining your taxes, budgeting, or paying for health insurance and long-term care insurance, an advisor can help you in these areas, too!

But how do you go about finding a financial advisor? SeniorCaring recommends asking at your bank first, as they may be able to provide you assistance without charging any fees. You can also usually attend financial education seminars for free held by local organizations that support seniors. If you choose to work with a personal financial planner, make sure that they hold the proper certifications and have no violations on their record.

Try New Hobbies Together

Retirement brings many perks and positive lifestyle changes, but perhaps the biggest benefit of retiring is creating so much time for your hobbies! You and your spouse can try out some new hobbies together. For example, Sixty and Me recommends traveling, learning a foreign language, cooking and baking new recipes, playing musical instruments, scrapbooking, or even diving into the history of your families. You could also get involved with a volunteer group in your area and pitch in to make your community a better place. With so much free time to fill, retirement is the perfect opportunity to learn new skills! It will be even more fun when your spouse is learning along with you.

Introduce Your Families

One of the joys of marriage is bringing both of your families together! Perhaps you and your spouse had the chance to introduce each others’ families before you got married, but now, you can give everyone the ability to get to know each other on a deeper level. You could plan for joint holiday gatherings, take regular trips to meet each other’s families, or simply host your relatives for dinner more often.

Expand Your Social Life

Finally, retirement presents lots of new opportunities for socializing. You and your spouse can introduce each other to your respective friend groups! Plus, you can make an effort to meet new people together. You never know who you’ll meet in retirement, and as a married couple, you can help form new connections amongst your friends.

Getting married in retirement marks a significant lifestyle change. If you were expecting to live alone and manage your finances independently in retirement, you’re probably in the midst of shifting your original plans! While you may encounter some complicated situations, these tips will help you manage the transition smoothly.

To find out more about Aspen Senior Care’s commitment to excellence, please visit AspenSeniorCare.com or call 801-224-5910.

Jillian Day created 508Assist to help people all across the web make their sites accessible to individuals with disabilities. She was inspired to start 508Assist when a close family member, who happens to have a visual impairment, had trouble finding a dinner recipe online that he could read easily. When she’s not chasing after her little ones, Jillian enjoys being outside, whether she’s fishing, hiking, or Geocaching with her family.