Whether your retirement is fast approaching or still a few years away, it is likely that you do not spend much time pondering what will happen when you stop working. Unfortunately, many people are unable to retire when they’d like because of their financial situation.
With careful planning, you can avoid this predicament. Planning ahead for retirement allows you to decide when and how you will retire, and whether you will continue to work. Even if you have not begun to plan, you can still start preparing yourself at any time, as it’s important to give yourself the best chance for a happy and secure future!
There are many things to consider prior to retirement, so let’s break down a few key questions that you need to ask yourself.
1. Do you want to maintain home ownership and the responsibilities that go along with it?
2. Do you want to have the flexibility and freedom to travel?
3. Do you want to plan and prepare for future healthcare needs?
4. Do you want to downsize your home and move into a vibrant senior living community?
5. Are you financially prepared for everything you want to do?
Don’t let these type of questions overwhelm you, though. There are many options that can help ease your mind. A great tool that Friendship Village Columbus recommends is the retirement calculator. A retirement calculator can provide a snapshot of what your financial future may look like. By answering a few questions about your household status, salary, etc. you will have a better idea of where you stand so you can determine the amount of money you’ll need to retire when and how you want.
At Friendship Village Columbus, we aim to educate and provide potential residents with the knowledge of why a Life Plan community is so beneficial. At Friendship Village Columbus, we want our residents to have the independence they love and the care they need. That’s why we are proud to be a Life Plan Community. We’ve always provided a continuum of care services here, including independent and assisted living, memory care, skilled rehabilitation and long-term care. By calling ourselves a Life Plan Community, we are simply highlighting that we can offer a plan for your future care needs. In addition to your new worry-free lifestyle, you have the option to plan for any health changes you may experience as you age. Life Plan ensures placement for care services at a set price, with no hassle or stress.
We invite you to join our financial and healthcare experts on January 18th from 10:30 a.m.-noon at Friendship Hall for a Dollars and Sense seminar. Lunch will be provided afterwards. Our experts will discuss:
• Tax incentives derived from entry fee and monthly expenses
• Contract choices that ensure a set rate for future health care
• The all-inclusive nature of a Life Plan Community