The retirement years can be some of the best years of a senior’s life, as long as the individual plans well and continues to live a healthy lifestyle. Seniors need to think responsibly when it comes to their finances, physical and mental health, and overall safety. Keep reading to learn more about the mistakes many seniors make after retirement and how those errors can be avoided.
Failing to Downsize
Although your senior parent may have driven two cars in the past, he or she can save money during retirement by downsizing to one car. Instead of spending the extra money it costs to insure, fill up the gas tank, and clean both cars, your loved one can maintain one car and use the saved money on other necessary expenses. Your loved one should consider downsizing his or her living space as well, especially if he or she is paying high mortgage rates and costly maintenance expenses. Downsizing can also reduce the amount of household chores and landscaping tasks that need to be done. Your loved one may want to consider selling the larger home and moving into a smaller house or condominium in the same neighborhood.
Seniors can face a variety of challenges as they age, many of which can be mitigated with the help of professional in-home caregivers who provide high-quality elderly care. Huntington families trust in Home Care Assistance to help their elderly loved ones age in place safely and comfortably.
Underestimating Medical Expenses
Growing older increases the risk of age-related conditions such as osteoporosis, dementia, and Alzheimer’s disease, and your loved one should be prepared for the costs of treatment associated with these or other conditions. Many seniors feel like they are in good health and will never experience serious illnesses, but some health conditions are difficult to prevent.
To avoid costly out-of-pocket expenses in the future, go over your loved one’s insurance plans to determine what is covered in terms of medical equipment, prescription costs, hospital and rehabilitation stays, and in-home care.
Turning Down Help
Pride prevents many seniors from accepting help from family, friends, and organizations that support older adults. They feel as though they’re losing their independence, so they turn down the assistance. These community resources, as well as help from family and friends, are available to make life easier for seniors in the retirement years. Explain the benefits of receiving assistance to your elderly parent and how these resources could enhance his or her quality of life.
Living independently is important for seniors who want to maintain a high quality of life. For some, this simply means receiving help with tasks that have become more challenging to manage over time. Even when families have the best intentions, they may not have the time to provide the care their elderly loved ones need and deserve. If your loved one needs help for a few hours a day or a few days a week, reach out to Home Care Assistance, a trusted provider of respite care Huntington seniors can depend on.
Creating a budget can prevent overspending in the retirement years. However, this doesn’t mean your loved one has to stop doing social activities or taking family trips. It simply means your loved one needs to determine how much he or she can spend and plan activities accordingly. Seniors are also prone to elder scams, causing them to spend their savings. Your loved one should never sign up for services without sharing the details with you or another family member. He or she should also avoid investing in stocks that promise a high rate of return within a short amount of time. Before investing in stocks, your loved one should speak with an elder attorney and financial advisor to determine which options have fewer risks.
Many older adults become susceptible to age-related illnesses after retirement. Consider hiring a professional caregiver if you need someone to monitor your loved one’s health. The type of elderly care Huntington, WV, seniors need can vary. Some need assistance a few hours a day, while others require more extensive around-the-clock assistance. At Home Care Assistance, we tailor our care plans based on each senior’s individual care needs, and the plans can be adjusted at any time. If you’re looking for a comprehensive in-home care plan for your loved one, call (304) 521-2909 today.