Author: Rick Bryan
As our clients know, financial planning is in our DNA and a major component of our day to day work. Not only do we enjoy the financial planning process, but most of our clients embrace the process as a means to gain clarity, articulate goals, and develop a roadmap to move through life with purpose and a sense of financial freedom. One interesting outcome of working through all these financial plans is that – despite having a highly diverse mix of clients - certain financial goals and concerns come up time and time again. One example of this is the strong desire to successfully age in place (at home) for as long as possible.
For our Baby Boomer and GenX clients, many have had the experience of visiting a friend or relative in a professional elder care environment, whether in a continuing care development, assisted living facility, or with comprehensive nursing care. As a result of that experience, some have expressed a strong desire to age in place for as long as possible.
The ability to stay in your home as you or your spouse age will be influenced by many factors, some of which might be out of your control. Health, financial capacity, family and social networks, and your physical environment will impact the viability of aging-in-place. That said, if your goal is to remain at home, one thing you do have control over is creating and implementing an action plan before circumstances dictate a different, less desired course.
Items to consider when developing a plan to successfully age-in-place at home:
Planning for your future is what we live for here at EP Wealth. If you feel overwhelmed by tackling the subject of aging and its potential impact on your best laid plans, we would be happy to start the dialogue and partner with you to secure a sound future. If you have questions, please contact me anytime at firstname.lastname@example.org or use the form on my Advisor Bio page.
EP Wealth Advisors (“EPWA”) makes no representations or warranties as to the accuracy, timeliness, suitability, completeness, or relevance of any information presented in this opinion piece. Information presented is general in nature and should not be viewed as a comprehensive analysis of the topics discussed. It is intended to serve as a tool containing general information that should assist you in the development of subsequent discussions with the appropriate professionals. Content does not involve the rendering of personalized investment advice nor is it intended to supplement professional individualized advice.
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