It’s time to “captain” the senior living conversation.
In consultations with clients young and old, financial advisors often liken retirement to sailing. It’s easy to see why. There’s a destination—financial security—not to mention countless storms along the way, including everything from market volatility to wallet-rattling events like death, divorce and illness. Getting through them safely and securely takes a little bit of luck and a lot of skill, just like sailing.
In most advisors’ sailing metaphors, navigators are the star. Because when it comes to money, navigation is paramount. When it comes to the emotional aspects of aging, however, the most important person on the boat is usually the captain. After all, navigators help with coordinates, but only the captain can steer the ship.
Every senior would like to be their own skipper. And yet, there often are occasions where adult children must don the captain’s hat on their parents’ behalf. One of those occasions is when it’s time to talk about transitioning to a senior living community.
Challenging though it may be, talking about senior housing can be made infinitely easier with a little preparation and forethought.
Ideally, older adults will recognize for themselves when they’ve aged out of their current home and lifestyle. But self-awareness is a tricky thing. It can be difficult to see the reality of one’s circumstances when you’re in the middle of it. When that’s the case, the trusted voice of a close family member can shine the light that’s needed to see things not as they used to be, but as they currently are.
To be sure, it’s a difficult discussion. And yet, it’s also a necessary discussion. Because underneath the stress and discomfort of candid conversation are real and urgent issues that threaten seniors’ physical and fiscal wellness—not to mention that of their grown children, on whose shoulders eventually can fall the responsibility for their parents’ health and happiness. Sooner or later, you have to have The Talk. Not only for Mom and Dad’s sake, but also for your own.
Challenging though it may be, talking about senior housing can be made infinitely easier with a little preparation and forethought. Use this guide to form a plan that makes the conversation comfortable and productive, ensuring smooth sailing through rough waters for you, your parents and your entire family.
