More couples are choosing not to have kids. While the Dual Income, No Kids lifestyle is right for many people, it may have an impact on retirement and elder care. According to the AARP, by 2040 over 1 in 5 retirees will not have children. Additionally, estranged or disconnected family members may not be around to assist their parents. Furthermore, families spread across the country may not be able to move near their parents easily to provide elder care support. As a result, there is a growing population of people who are reaching retirement age without having children to help with their care needs. Preparing for retirement without children to lean on for support may be a challenge, but a strong retirement plan can help.
Elder Care After Retirement
Medicine and healthcare advancements have contributed to an increase in life expectancy. As a result, adults live longer but may require additional care management. This means that there will be a greater need for care services for retirees. Because people also are working longer before retirement on average, it may be difficult to retire until you need care.
Estate Planning Beyond Wills
Most people think of estate planning as drafting a Will. While that is an aspect of it, planning for other aspects of your future is also important. You and your spouse (If you have one) should start planning for your retirement and elder care as soon as possible. It is also important to discuss plans if one of you passes before the other. Speak with an estate planning attorney to create a plan that works for you.
Looking to Friends and Family for Support
While many elderly individuals rely on their children to manage their long-term care, elders without kids may need to find support elsewhere. Looking to friends and close family members for support can be a good place to start. While not a surefire plan, having someone you can rely on in an emergency is important, at the very least. You may also need to name a trustee or an executor of your estate. However, many estate attorneys will offer executor services for clients.
Home Support and Your Elder Care
When it comes to your elder care, it is important to have a trusted loved one involved who can help manage your support. On average, those without children need more healthcare services than other seniors with adult children. Many experts believe this is because they are less likely to have family members around to notice signs of changing health. You should look into your elder care support options in your area. Field your options and shop around before you need help. It can allow you to act faster if you or your spouse need additional support.
In-Home Care After Retirement
Without children to rely on for daily support, you may need to hire care assistance. An in-home health aide or nurse can help provide the daily support you need while allowing you to maintain your independence. SafeHarbor Healthcare Services provides certified home health aides and in-home nursing care to the elderly and disabled. Our professional aides can assist you with your daily needs. This can include meal preparation, bathing & hygiene care, physical therapy, light housekeeping, doctor’s appointment visits, and more.
Safe Harbor Healthcare Services does not provide medical, healthcare, or financial advice via articles. This material has been prepared for informational purposes only. It is not intended to provide, and should not be relied on for medical advice.
Safe Harbor Healthcare Services has been providing excellent home care on Staten Island since 1967. Our services help the elderly and disabled live safely and independently; while giving their families the peace of mind they need. For more information contact us by clicking here, or call (718)-979-6900.
