Planning Financially For A Old Age Dependent Retirement
Financial Management

Planning Financially For A Old Age Dependent Retirement

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This was an interesting thought today as when I think about not many people think about this either. There was a scenario of a person who was saying how when they retire they don’t want to end up in say an old age home where they pay thousands of dollars a month to live in an environment that many consider as uninspiring. For example, not really getting to choose meals versus whatever the home decides to give everyone as a whole and just a cycle of sleeping and waking up. I know of a case where a person was paying almost $4000 a month for these types of services as well which is super expensive when you think about it.

In many cases a lot of these people actually have enough money to buy their own place. In fact, many people sold their homes to live there as being alone didn’t seem to be the ideal siltation whenever they needed help. That can be frequent for people of an older age. But that’s the interesting thing to think about. Think of the person that spent all their young life saving up to buy a home where everything is paid off along with a healthy pension plan and savings.

You plan to just relax and enjoy your life, but then health issues come up such as maybe for whatever reason you can’t cook for yourself anymore or drive a vehicle to places whenever you wish. Would you actually be prepared or a scenario like that? Because that would be a little disappointing if you end up spending all your money to be taken care of per se versus actually just enjoying the rest of your life. I would imagine the only way to really plan for that is aside from money is you have to kind of have a wide variety of potential lifestyles and options to settle with. I know some people who actually really enjoy things like gardening or light farming as an activity to keep on going at an older age as an example.

Or interestingly enough, retired people who actually started getting more into tech and entertainment items such as video games. So aside from money, perhaps its important to try and experience as many different things as possible now while you are able to so that you will have more options to go with depending on what happens health wise.

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