6 Tips for Aging In Place

Arranging care for our aging parents or grandparents is not only just emotionally challenging, but it can also be quite expensive.

As cost for senior care climbs each year, one thing you can do to is to prepare for what we call “aging in place.”

Baby Boomers do not expect retirement to include moving into a nursing home or an assisted living facility. The more affordable option is to age in place.

The fact is… 78% of boomers own their homes and want to stay there.

So here are 6 tips to help you prepare financially to retire in your own home.

#1: Plan ahead and do your research. What will you need to “senior-proof” your home.

#2: Are you in a senior-friendly home now? If your only bathroom and washing machine are upstairs, and you have hip problems when you’re older, will your current home be the best fit? I know people who have moved from their current home for just this reason.

#3: Do home improvement projects one at a time to minimize cash flow problems. For example, one month add hand rails, then a couple months down the road do the walk in tub.

#4: Do it right the first time and avoid any of the up-charges from contractors for making changes.

#5: Do the easy stuff first like removing rugs and other hazardous tripping items. Remove furniture in tight walkways and move the dishes to the lower cabinets.

#6: Remember that safety comes first in all we do to senior-proof our homes.

Related posts:

5 Reasons To Add Rental Properties To Your Retirement Plan
Could You Be a Victim of "Lifestyle Inflation?"
How To Achieve Financial Freedom

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