Growing older is an inevitability that many people tend to ignore or put off to deal with at a later date. What many people don’t realize is that it’s important to start planning for your golden years now so that when the time comes you have the ability to choose how you live out the remainder of your time.
In the words of Dorothy from the classic movie The Wizard of Oz, “There is no place like home”. Statistics show that the majority of aging adults prefer to live out the remainder of their life in their own home. In fact, recent studies have found that just over 80% want to age in their home as opposed to being placed in a facility or senior housing community.
The conversation about what to do when you get older doesn’t have to be an uncomfortable one. When you have the conversation, separate the facts from emotions and concentrate on the financials, the logistics, and how it will affect everyone involved. Here are a few key questions to ask when having the conversation:
The before mentioned conversations are important and need to take place early so that a plan is in place when the time comes to make the decision. Don’t wait till the last minute, initiate the conversation and come up with a plan before it’s too late and the option to grow old in your own home is no longer plausible.
As we get older, our physical abilities decline which in turn creates physical obstacles that need to be addressed for individuals intending on continuing to live the remainder of their years in their own home. Things like a single step into the front door or a high floor to carpet transition become serious obstacles and fall hazards for elderly people. Each year on average one in every 4 elderly people experience falling which is why it’s imperative to eliminate any and all fall hazards from a elderly persons home.
Since the 1950s, most houses built are multi-level or split level so they will contain staircases. Even in situations where the staircase is only a couple of stairs it’s an insurmountable obstacle for an elderly person to transverse safely. Stairs of all sizes are dangerous and represent a fall hazard. When a elderly person falls they risk serious injury if not worse and in cases where they are home alone a simple bruise can escalate to something more serious due to a lack of assistance.
Addressing stairs can be a simple matter of building a low gradient with a non-slip surface over the top of a staircase. In cases where there is not enough room or the staircase is too steep for a ramp to be built over it then other more extreme options should be considered like limiting the elderly resident to a single floor, installing an elevator, or a motorized chair lift. All of these solutions are costly and could lead to additional challenges for example needing to create a new entrance or remodeling a home so it has a kitchen and bathroom on the bottom floor. All of these things cost money which is why it's important to start looking at the house early and taking the necessary steps to ensure the home is safe for an elderly resident.
Unfortunately, not all homes are able to be modified due to home design or financial constraints. When these situations arise, it’s always good to know in advance so that alternative plans can be made such as selling the current home and purchasing a new home or looking into options like senior living communities.
In addition to staircases and fall hazards, when evaluating a home for future senior residency other things that should be considered include:
Getting a house ready for a senior resident requires both time and money which is why it’s important to properly prepare a house in advance to ensure a happy and comfortable end of life experience.
People want to live out their lives in their own home in part because they are usually independent. No matter how capable a senior is, at some point every person reaches a point where they will need help with the most common tasks associated with everyday life.
Early on it may not be necessary to employ the services of a home care provider like Health & Comfort Home Care Agency offers but instead institute some technology-based solutions commonly referred to as “Smart-Home Technology”.
Smart home technology includes things like the ability to turn lights on an off with their voice, have security doorbells with cameras, fall-detection sensors, and control the thermostat with voice commands. Smart home technology greatly reduces the risk of falling and accidents by allowing the person to remain comfortably seated while still being able to control their surroundings with voice commands. The less an elderly person needs to get up and walk around their home the safer it will be for them.
In recent years smart home technology has become very affordable and much easier to implement.
Smart home technology is not a replacement for an in-home care aide however it is a cost effective and useful tool to use in combination with a home care aide as a way to provide a safe and comfortable living environment for a person or persons living out their later years.
We touched on it earlier when we discussed having the conversation early on, however financial planning is one of the most important parts of planning for how and where to live out your later years.
Everything costs money and medical insurance only covers so much. Even if you have supplemental insurance, the out-of-pocket costs of living out your live at home are substantial. Some of the expenses that need to be considered when planning to live out the rest of your life at home include:
The challenge is how to pay for the expenses of living in your home while no longer actively working. Social Security and insurance are not enough to cover everything which is why most people that are not independently wealthy or setup for retirement need an alternate source of income.
The best way to prepare for living out the rest of your years at home is to start saving at an early age. For many people this is not an option. For individuals that own their home and have equity, another option is to consider a reverse mortgage. Selling your home and downsizing is another option. Unfortunately, outside of a substantial savings or equity to work with the financial burden usually falls upon family members which is why it’s important to start saving and planning early.
