When our kids leave home, we have a plan.
We worry! We find them a good place to stay. We make sure they are comfortable and safe, ensuring that they will have enough money to take care of their needs. We prepare them for life on their own, talking through their emotions and the anxiety leading up to the big day. We love them, wanting only the best for their new venture.
We should approach our aging parents the same way.
At some point, there may come a time when they will have to move onto a new stage of life. There come that time when it becomes too difficult to stay in their home and moving them into a retirement home or assisted living is the only option available.
The most important part of preparing for this next stage of life is a plan. Sit down with your parents while they are still sharp and able to make decisions for themselves. Remember that similar to our children, our parents are going through a huge range of emotions and fears. Being patient and talking through the process with them will make the transition a little less overwhelming.
We will be doing a series of blog post in the coming weeks, discussing the importance of lists and preparations of the home, understanding the full financial picture and pricing according to the market. Stay tuned!