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Moving can be tough at any age. For seniors, the emotional toll of moving can cause anxiety about relocating and leaving behind their family home. Sometimes, a spouse has passed away, and the house is closely tied to happy memories of the years spent together there.
Older adults nearing retirement age are sometimes surprised to learn that Medicare doesn’t cover all of their medical expenses. While it does ease the burden of health care costs, the costs that aren’t covered can quickly add up.
Driving represents freedom to many people. For older adults, it’s also linked to independence. Being able to hop in your car and run errands, head off on vacation, or simply go to a friend’s home for dinner, is empowering.
In today’s transient society, families are often separated by long distances. Education and career opportunities may lead adult children to other cities and states. Once settled, they may be unlikely to return to their hometown.
One of the decisions you will need to make once an aging parent decides to move to a senior living community is when to sell their home. Should you wait until their move is complete? Or sell the house first? While there is no right or wrong answer, each has pros and cons.
Women find themselves living alone during retirement in greater numbers than their male counterparts. Researchers say forty percent of female retirees are single, compared with thirty to thirty-five percent for men. That gap continues to widen as the age of the retiree increases.
At different points in our lives, we are forced to have difficult conversations with friends or family members. Many adult children say it is especially tough to broach the subject of moving to an assisted living community with an aging parent. It can be so intimidating that adult children often delay the conversation until a crisis occurs.
Preparing income taxes is rarely ever easy. From making sure you claim all of the appropriate deductions to figuring out where to list investment income on your forms, it is a process that requires time and patience.