Want to Live at Home Long Into Retirement? Create Your Own Plan Now for Old Age
Note: This article is courtesy of Iris.xyz
By Rick Kahler
When most of us hear “long-term health care plan,” we think of insurance. Not necessarily so.
While a LTCI policy may be part of your health care planning, it isn’t a plan. Even those who don’t need such insurance need a long-term health care plan.
I recently heard a presentation by Carolyn McClanahan, MD, CFP. She says about 70% of Americans will need some type of long-term care. Your odds of needing it increase as you get older and are also higher if you are female, have a family history of chronic health conditions, have a poor diet, don’t exercise, or live alone.
Two major issues to consider in creating your own long-term care plan are where you will live and how you will pay for the care you are likely to need.
Most seniors want to live in their own homes “until their toenails turn blue,” as Dr. McClanahan puts it.
No matter how appealing this is, it may not be realistic. Here are some important items she says to consider that can make your home old-age friendly:
Close proximity and access to needed services like grocery stores, restaurants, and medical facilities
Available interaction with others
A plan for home maintenance
Accessibility for wheelchairs and walkers
Minimal stairs, level surfaces, and the ability to accommodate ramps inside and out
Non-skid floors, baths, and showers
Grab bars and easy to reach utilities
Cameras at floor levels (the least intrusive) to monitor your activity
Whether the home can be dementia proofed
Whether in-home medical and support services are available, you are willing to use them, and you can afford them.
Even with a goal of staying in your home, your plan should specify how to determine if it’s time for you to move into a long-term care facility: perhaps when friends or family feel it’s a safety issue, you can no longer perform certain functions, or transportation becomes an issue.
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