According to a survey of seniors conducted by the National Council on Aging, 80% of those contacted said they plan to age in their homes while 40% felt they would need a child or grandchild to eventually care for them. Almost one-third said they did not know if their money would last through retirement; some did not even have a financial plan.
What can you do to prepare for a good quality of life as you age? Start planning now to ensure you take full advantage of resources that can help you have a longer, healthier life. Start with financial planning by consulting with a certified financial planner. Candidly share your current financial situation, and thoroughly describe your goals for both before and after you retire. Together, create a workable plan that will help you achieve those goals.
Next, focus on legal and estate planning. Depending on your individual circumstances, your plan can be relatively simple or complex. At a minimum, make sure you:
- Create a complete estate plan: Living Trust, Living Will, Durable Power of Attorney, Healthcare and HIPAA Power of Attorney, and estate planning letters.
- Name guardians for any minors and dependents.
- Create written instructions for locating important documents, including insurance policies, bank accounts, and other financial assets.
- Name retirement plan, 401(k), and IRA beneficiaries.
- Make funeral arrangements, whether pre-paid or pre-planned.
Now that you have your financial health in place, don’t forget your physical health and well-being. Consult with your doctor first -- and then and start moving. The American Heart Association recommends thirty minutes of walking each day to increase fitness, maintain bone density, and improve balance. Add ten minutes of stretching to improve joint mobility and range of motion.
Once your fitness improves, get tips from a personal trainer or health care professional to incorporate other forms of exercise that will be good for you… and fun.
Advances in nutrition and healthcare make the odds of living a longer, healthier life much more likely for many Americans. With the right planning, your quality of life can improve in every aspect: Financial, legal, emotional, and physical.
Source : https://www.forbes.com/sites/markeghrari/2017/03/31/you-may-live-longer-than-you-expect-are-you-prepared/#3782d1eafdf0