At least three-fourths of American adults age 50 and older have one thing in common: they want to grow old in their own homes. According to a 2018 AARP survey, 76 percent of respondents prefer to stay put in the houses they’re living in now as they age, enjoying the familiar surroundings of the community they love – and our guess is that the coronavirus pandemic has boosted that figure even higher. But will they be able to? Unless they start now to make their homes appropriate for aging in place, the answer is probably no. Home Renovations are Usually Overlooked in Retirement PlanningThere are some improvements you should consider making to your home today if you hope to age safely living there in the future. This 2019 article from the Money website outlines three home renovations that the author, Alix Langone, claims will help you live independently as you get older. “Many Americans spend decades preparing for retirement financially, but overlook another key aspect of planning: housing,” Langone writes – a statement with which we agree completely. Since so many older Americans want to remain in their homes as they age, it’s ironic that “few are making modifications to help them accomplish that goal. Indeed, most people don’t try to make their home more navigable until there’s a crisis,” says one Certified Aging-in-Place Specialist who spoke to Money. “One day everything is okay, they have their home, they can function okay, but then they fall,” this planner says. This kind of crisis “changes the whole trajectory of their life.” Seniors Seem to “Stubbornly” Resist Making Necessary Home RenovationsIn spite of the obvious risks inherent in aging in a poorly-designed home, seniors seem to remain stubbornly resistant to recommended alterations that would make their houses safer. “Sixty-five million households in the U.S. are now headed by someone over the age of 50,” says the Money article, quoting a report by the Joint Center for Housing Studies of Harvard University. Yet less than four percent of the country’s housing stock “incorporates three vital features for aging in place: single-floor living, no-step entries, and extra-wide halls and doors, the report says.” Depending on the age and design of your home, you may have to move in order to find such age-friendly features. But before you give up your home, it’s worth considering whether some strategic renovation is feasible. The Money article gives you a place to begin. “Here are some of the most practical home modifications older adults can make to continue living independently for as long as possible, along with cost estimates for each,” says Langone. “If they seem expensive, consider that the cost of inaction could also be high, in the form of pricey medical bills following an accident, or even the expense of relocating to a care facility if you can no longer stay at home.” Three Home Renovations That Belong on Your To-Do ListLet’s look at three upgrades that top the Money list of age-in-place upgrades:
The Real Key to a Solid Estate Plan: an AgingOptions LifePlanWhen it comes to retirement planning, most people focus on one fairly narrow issue: money. Financial planning is an important component of retirement planning. But people heading towards retirement often make the mistake of thinking that a little financial planning is all that’s required, when in fact most financial plans are woefully inadequate. What about your medical coverage – will that be adequate? What if you have to make a change in your housing status – will that knock your financial plan off course? Are you adequately prepared legally for the realities of retirement and estate planning? And is your family equipped to support your plans for the future as you age? The best way we know of to successfully blend all these elements together – finance, medical, housing, legal and family – is with a LifePlan from AgingOptions. Thousands of people have discovered the power of LifePlanning and we encourage you to the same. Simply visit our website and discover a world of retirement planning resources. Make certain your retirement planning is truly comprehensive and complete with an AgingOptions LifePlan. Age on! (originally reported at www.money.com/money) The post You Say You Plan to Age in Place? Here are Three Home Renovations That Might Help Make It Possible appeared first on AgingOptions. from AgingOptions https://ift.tt/30Td54L via WordPress https://ift.tt/2XU5aCz via For more great blog posts check out Platinum Communities Blog
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