Planning for retirement is important at any age. For most active seniors, retirement is a time of opportunity and freedom to explore life’s next chapter. Parent/child conversations are an integral part of planning for this next chapter. This conversation can help children understand what their parent’s feel is important, so if needed, they can assist in the research, decision and planning process. Here are some tips on how to start the conversation with your parents.

Ask them questions. Get an idea of what their retirement wants/needs are and ask them how much help they would like with next steps.

• Where do they want to live?
• What type of home do they want to live in? Condo, apartment, house?
• What activities or hobbies do they want to make sure they can do?

For some children this conversation can be had in person with their parents and they can be by their side in the search as much as their parents need them to be. For other children that may live further from their parents, this conversation gives them the opportunity to search online for communities that fit what their parents are looking for and still be involved, as need be, from a distance.

Financial comfort may be another aspect of retirement you need to talk about. By talking about retirement goals first, it opens the door to talking about budgeting for those goals.

• If you know how they would like to stay active, look for those opportunities around potential retirement communities. Get a clear understanding of membership fees or any costs tied to that activity.
• Where are the closest grocery stores, restaurants, doctor’s offices and entertainment spots? Knowing where those key destinations are can help determine transportation costs and budgeting.
• Is it worth looking at homes with walk in baths? If they are becoming less mobile as they progress through their retirement, having a more accessible bathroom may be more suitable to their lifestyle, so this may definitely be worth considering.

Finally, make time to talk about healthcare. Without knowing what could happen, it’s hard to predict the type of care that your parents may need down the road. If you find out the different care options, it will give you, and your parents, peace of mind that they will be well taken care of no matter what happens.

Conversations about retirement with your parents are just that, conversations. It is an opportunity for both of you to learn and understand what is out there and what is the best fit. If they want an active retirement lifestyle then you should give them that. You want to give your parents what’s best for them, so make sure you know what they want.
If you have questions, contact Julie Farmer at lifestyles@methwickclone.mystagingwebsite.com. She can walk you through the process and answer any questions you have about lifestyle options or in-home care so you all can make the best choice.