PLANNING FOR RETIREMENT

Whether you are a boomer or the child of a boomer, you may have started talking about the next 10, 20 or even 30 years and planning for the retirement years.  If you have already had the retirement conversation and started planning, congrats, you are doing yourself and your family a favor by considering and possibly making decisions on the many choices you have available to you.  If you haven’t, don’t worry, you aren’t alone. I highly encourage you to start learning about, thinking about and discussing your future retirement....

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PLANNING FOR RETIREMENT

Whether you are a boomer or the child of a boomer, you may have started talking about the next 10, 20 or even 30 years and planning for the retirement years.


If you have already had the retirement conversation and started planning, congrats, you are doing yourself and your family a favor by considering and possibly making decisions on the many choices you have available to you.


If you haven’t, don’t worry, you aren’t alone. I highly encourage you to start learning about, thinking about and discussing your future retirement with your family so they aren’t left in the dark and wondering what mom or dad prefers.


Finding a way to start talking with loved ones about retirement and the future is the difficult part. So here are a few topics to start with:


Retirement Age

Just because you can retire at 65, doesn’t mean you have to, or want to do so. Many people choose to work beyond retirement, not because they need to, but simply because it is a passion. If you enjoy working, then you should continue doing so. Perhaps consider cutting back your days so you can pursue other activities you enjoy or always wanted to do.

If you are ready to throw in the towel and can afford to do so by all means retire and enjoy life.


Finances

If you are going to retire, you certainly need to know how you will cover your expenses. No matter how old you are, it is certainly a good idea to meet with a professional who can help you get your financial affairs in order.


Legal Affairs

Have you written a will, set up a trust or need to deal with other legal affairs? If not, when you die, your family is likely to spend a lot of time and money in probate court dealing with these legal and financial affairs. Take time now to finalize your legal affairs. You can always make changes.


Healthcare

Will your children or home health care take care of you in your home or theirs? Is it time to downsize so you can live in your own home for longer? Or, if necessary,do you have a specific independent senior living or nursing home you’d

prefer to live? Look around you. Senior living facilities are popping up all over town. Similar to the drug store boom, the need for senior living facilities is greater than ever. If you haven’t, now is a great time to schedule a tour so you can find facilities you prefer if you should need to get more personalized care.


Funeral/Life Celebration

While no one really likes to plan for death, it is one of those things on the “have to” list. That is if your goal is to ease the burden on your family. There are literally over 100 decisions that need to be made at the time of a person’s death. Planning in advance is simply a responsible thing to do and one your children will greatly appreciate. Whether you pay for the funeral/ life celebration now or through life insurance, specifying what you want done with your remains (buried or cremated) and where you want them placed; as well as, how you’d like your life celebrated allows your family more time to grieve their loss at the time of your death.


Activities

Retirement does not have to be the equivalent to sitting in front of the television for all these years. It can be, if you want, but it can also be filled with a lot of enjoyment with friends and family. It could include traveling, volunteering, reading or quilting, exercising, caring for grandchildren, attending spiritual activities, cooking and so much more. The choice is yours. Enjoy life to its fullest.


As you are taking time to enjoy life, learn about the resources that are available to you and your family for your retirement. The need for resources for senior varies widely depending upon how independent or co-dependent an individual is during their senior years.


The Lexington community offers a spectrum of services to seniors. In fact, there seems to be more senior services than ever before as our community prepares for an increased demand from boomers who have or about to enter their retirement years along with their parents who are living longer than previous generations.


One such resources that you may want to consider are Senior Information Fairs. One such information fair will be held at Milward Funeral Directors, 1509 Trent Boulevard on Thursday, April 20 from 10am – 2pm. The Senior Information Fair is hosted by Milward Funeral Directors and The Willows at Hamburg.


Guests will have an opportu-nity to talk to many vendors about Financial Planning, Legal Issues, Estate Planning, Funeral Pre-Planning, Senior Activities and Transportation and Senior Living Communities. It’s essentially a one-stop location for gathering a lot of information. Lunch will be provided at no charge or obligation. Door Prizes will be given away. To R.S.V.P., please call 859-272-3414 before April 19.

KIM WADE

Kim Wade has been a marketing consultant for more than 20 years specializing in the funeral industry. Currently, she is the Community Relations Director for Milward Funeral Directors, the 37th- oldest continuously operated family business in the United States which operates three locations in Lexington including its Celebration of Life center at 1509 Trent Boulevard. Kim can be reached at marketing@milwardfuneral.com or 859-252-3411.

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