No one has ever said to me, “I can’t wait to move into a long-term care home!” So I think it’s a safe bet to say that very few of us want to do so. We want to stay as independent as possible in our own home for as long as possible.
If you take care of yourself as mentioned in an earlier blog, you can hopefully push back long-term care needs well into your senior years.
Whether you will need long-term care or not, there is no doubt however, that long-term care is expensive. Has this been factored into your overall financial plan?
You may want to consider purchasing long-term care insurance while you are still working. This insurance can provide coverage if you become unable to care for yourself and need assistance either in your own home or a care facility following an accident or illness.
When I finished paying for my long-term care insurance, I felt great about having that peace of mind should I ever need it.
Talk to your financial planner or your insurance provider to see if long-term care insurance is right for you.
What can you do now to increase your level of health to stay as healthy as possible for as long as possible?
Loss of social network is a big concern among pre-retirees. When you will retire from your career, you more than likely won’t be seeing your colleagues and / or work friends everyday but that doesn’t mean that they are gone from your life forever. If you had good work and personal relationships with your co-workers, then these friendships may be strong enough to continue once you have left work.
Like all relationships, however, you need to make time and work on your friendships to stay connected.
If you don’t really have any close friends at work or outside of work, then you may need to nurture your existing relationships and even expand your network.
Some ways to do that are to:
Identify your interests and hobbies and join a local club e.g. if you love gardening, look for local gardening clubs
volunteer for a personal cause
join service clubs or associations – there are lots of service clubs who welcome new members, identify the service clubs in your area.
A club that I will be joining when I retire is PROBUS club. Their goal is to provide fellowship, friendship and fun in their retirement and semi-retirement years. Some of my retired friends are members and they are loving the people they are meeting and the experiences they are having. Visit www.probus.org for more information and for a club near you.
attend a class at your local college or
attend community or church events
There are probably lots of events going on in your community so pick up the local paper or read it on-line and get plugged in to find out what is happening in your community.
Visit www.powerupyourretirement.com to watch the ‘Ten Most Common Fears About Retirement’ Masterclass video.