Res·o·lu·tion – noun: a firm decision to do or not to do something.
As we ring in a new year, many of us are inspired to set resolutions that improve our lives. One of the most profound commitments you can make is to develop a comprehensive plan for aging. This isn’t just another resolution. It’s a roadmap to ensure you live comfortably, securely, and with dignity in your later years. To guide you in this crucial endeavor, consider these three pivotal questions. Each is designed to spark further inquiry, helping you construct a detailed and adaptable aging plan.
Three Leading Questions
- Where Will You Live?
- Who Will Provide Care for You?
- Who Will Manage Your Affairs?
Let’s delve into the “tree” of questions that branch from each of these fundamental considerations.
Where Will You Live?
Choosing a place to live as you age is among the most significant decisions you’ll make. Some may wish to stay in their current homes – age in place. If this is your preference, consider whether your home can accommodate your needs. Can you live on a single level? Will modifications, such as ramps or accessible bathrooms, be necessary, and what are the potential costs?
Alternatively, you might explore options like a continuing care retirement community (CCRC), a smaller home/apartment, or an over-55 community. Investigate the types of accommodations and levels of care available, the start-up and ongoing cost implications, and whether there might be a waiting list. For those considering living with family, assess if their home is suitable and whether modifications would be required.
Who Will Provide Care for You?
As we age, the need for assistance increases, and planning for this inevitability is essential. There are two components to consider – care management and hands-on care with activities of daily living. Care management is the person who goes to doctor’s appointments with you, helps manage your medication, and connects you with other support. The individual who manages your care may or may not be the person who also assists you with your activities of daily living.
If you anticipate that a family member will be your caregiver, consider their ability to meet potentially growing demands in terms of their time and finances. If it is your preference instead to hire caregivers and/or a care manager, understand the costs and how they increase as your needs grow.
Who Will Manage Your Affairs?
Managing your affairs encompasses everything from bill paying to taking care of your home. Powers of attorney typically go into effect when an individual is incapacitated. However, most people become overwhelmed with tasks associated with managing their affairs years before they become incapacitated.
Decide who can work alongside you with these tasks. And organize your financial documents now so someone else can identify what needs to be done and how to access the accounts needed for them to assume control in the future if necessary.
A Personalized Path Forward
Remember, every aging plan is unique. There is no one-size-fits-all approach; your plan should reflect your personal preferences, financial situation, and the support network available to you. As your circumstances and health evolve, so too should your plan. Reviewing it annually and making necessary adjustments is wise, and the beginning of the year is an excellent time to dust it off and give it a fresh look.
But, if the tasks at hand seem daunting and you’re uncertain where to start, consider utilizing resources like our Aging In Place Assessment. It can serve as a roadmap, ensuring you address all necessary areas. Make this resolution one you keep and begin crafting your personalized aging plan today—it’s a gift to your future self.