As we age the days and years ahead can be filled with fun, relaxation, and a new sense of purpose and fulfillment. But the days can also be filled with concern and even dread for the dawning of each day. The difference is in the planning – how prepared are you for getting older? If you are just cruising into the future without any thoughts or concerns for what lies ahead, you may be shocked and unprepared for that future.
A better way is to be aware of changes the future will bring and begin planning for their consequences. Here are some of those changes and some thoughts on how to better prepare for their eventuality.
YOUR PARENTS WILL GET OLD
. These people who brought you into the world, raised you and took care of you for most of your early life will get old and your roles will begin reversing – you will become the parent! You will have to be concerned with their health, their ability to take care of themselves on a daily basis, their mobility, their finances, and their end-of-life decisions.
These decisions include who takes care of them and where they are cared for when they are no longer able to care for themselves. Long-term care solutions like assisted care facilities, nursing homes, or hospice care need to be considered. These choices are costly and involve many financial and heart-wrenching decisions – decisions that are better made with your parents so their wishes and desires can be taken into consideration when they are still healthy and lucid.
Additional considerations include legal matters like Estate Planning, so they can decide where their assets go after they pass; a Power of Attorney, so you can make decisions for your parents when they are not able to do so; Medical Directives and Organ Donation, so you know how they want to leave this world and what they want to leave behind.
Taking care of your parents as they age – especially with good planning – should be a welcomed responsibility for you and your siblings, and you all can enjoy their last years on earth together. But eventually,
YOUR PARENTS WILL DIE.
This does sound harsh but the reality is that we all die so the only real choices we have is how we die and how we leave things behind us. This goes back to planning.
If we have collaborated with our parents to plan their estate and the details of their funerals, and burial or cremation, then we will be left with executing those details. Contact the lawyer who set-up your parent’s Estate to walk you through the many steps included in the finalizing of a person’s life and assets. If there are large sums of money or many assets, be prepared to seek advice for their management and subsequent responsibilities, like taxes.
You will also need to initiate and see through the details of their funeral and burial arrangements, even to the details of what to do with the flowers from the funeral home, and how to respond to the cards and letters of sympathy. These things are hard to do when you are grieving, but the process is made easier when there is a plan in place.
As your parents are aging, so are you. As you age you will,
FIGHT TO STAY HEALTHY.
Regardless of how well you have taken care of yourself, your body will begin to breakdown in many ways. Bones become brittle, organs begin to wear out, your muscles lose their tone, strength, and vibrancy. Even the most well-conditioned and healthy person gets old and staying as healthy as you can becomes if not a struggle, at least a regular task of eating right, exercising, and going to the doctor.
Health care costs money and medicines and surgical procedures are outrageously expensive, so you will need help in navigating your health and the health care system. Medicare provides some of that assistance, as do Medicare Advantage Plans. Social Security will provide some of the cost when you reach retirement age, and those payments go directly to Medicare which does provide basic care. But you will exceed the need for basic care very quickly as you age so be prepared to have supplemental medical insurance and know what it covers and what it doesn’t.
Stay as healthy as you can by eating right, exercising, and keeping mentally fit. But know that this isn’t enough to fight off the effects of aging so you need to be prepared for the high costs of medical maintenance.
As you age you will eventually reach,
RETIREMENT AGE.
Again, prepare for this time in life by learning about and planning for the benefits and responsibilities that come with retirement. This includes your Finances, Social Security, Medicare, Working or Volunteering, Socializing, Relaxing and enjoying life!
Before you reach retirement age, discuss your plans, hopes and dreams for retirement with your spouse and family. Plan for the expenses that come with your hopes, plans, and dreams by creating future assets through savings plans at your work, investments through a financial planner, or a weekly savings plan. Determine what assets you will need in the future and begin saving now. Social Security becomes part of that ‘savings’ plan, but do not count on this revenue alone. Because of the instability of our political system, this is not a guarantee.
The same is true for Medicare. Include coverage in your planning but consider also supplemental medical coverage with assets that you can control.
In retirement, you choose your daily activities and schedule. You can choose to work part- or full-time, start your own business, volunteer, pursue your hobbies or passions, or simply relax, travel, read, and spend time with friends and family. This will be your time and making plans will help you to ensure that you can do what you want and you can afford to do what you want.
Remember what we said about your parents getting old and eventually dying. Well,
YOU WILL GET OLD AND YOU WILL DIE.
Sorry, no one if exempt from these facts. But choosing how you age and how you die can make the eventuality seem less daunting. How do you do this? Planning.
Read back through this article and take to heart the advice given within. This comes from people just like you who have gone through the aging process and are sharing their experiences with you. If you take the advice then you can grow old gracefully and die peacefully and contented as you look back to see that your life – and your end of life – was well spent, well ordered, and well planned.
None of us know what exactly lies ahead for us, but with an awareness of the possibilities ahead and how to prepare for them, we can live that life with peace of mind and be optimistic for our future.
