Welcome to our new page for Seniors!
Today’s senior adults are living longer and more active lives than ever before, and their housing and lifestyle needs reflect this trend. Many seniors are looking for communities that offer a mix of independent living and assisted living options, as well as access to a range of amenities and services. Some may prefer to downsize from larger homes to smaller apartments or townhouses, while others may opt for retirement communities or age-restricted developments. Additionally, seniors are increasingly interested in amenities that support their active lifestyles, such as fitness centers, swimming pools, and walking trails. Overall, the housing and lifestyle choices available to today’s senior adults reflect a growing recognition of the importance of staying engaged, connected, and healthy in later life.
We aim to provide informative and up-to-date resources for seniors who are looking to navigate today’s ever-changing lifestyle. By visiting our page often, you can expect to find timely information on a range of topics, such as housing options, health and wellness, financial planning, and leisure activities. Our team of experts is dedicated to bringing you the latest news and insights, as well as practical tips and advice to help you make informed decisions about your senior lifestyle. So whether you are looking for guidance on downsizing, retirement communities, or fitness programs, be sure to check our page regularly for the resources you need to thrive in your golden years.
I encourage you to visit SeniorAdvice.com for state-wide information on assisted living. Their site provides information for not only assisted living locations and financial assistance free resources for you to access.
Best Medical Alert Systems If you or a loved one are shopping for a medical alert device or system, check out this site.
Leslie is a member of our team who specializes in Senior Real Estate. She earned the National Association of Realtors Designation in January 2019 as a Seniors Real Estate Specialist (SRES). Leslie’s objective as an SRES is to assist seniors with transitions related to housing options and to recognize how a home can be adapted for safety, comfort, and aging in place. Additionally, Leslie can guide you in recognizing scams or elder abuse and ensuring that your transactions comply with the Housing for Older Persons Act (HOPA).
I would like to share some of my favorite products for seniors ranging from touch lamps to under-bed lighting to help prevent unnecessary and dangerous falls in the dark. Check it out here.
For additional Assisted Living Services in Oregon click Here or for Care Facilities in Oregon click Here.
MARCH 2024 Newsletter
Whether you’re planning for retirement or are already retired, you’ve likely examined all the key indicators to see whether your financial cushion is solid enough to meet your long-term needs.
But one wildcard you may not have considered is your adult children turning to you for money or moving back home. Such requests can reshape your plans for retirement and downsizing or destabilize your long-term financial security.
Pew Research Center found that it’s increasingly common for children to return to live with parents and to ask for financial help. After all, younger generations are grappling with a high cost of living, housing prices that are out of reach, and burdensome student loans.
The study looked at the parent-child relationship and young adults’ experiences in early adulthood from several angles, including key milestones for young adults versus 30 years ago and the dynamics of financial independence of younger adults.
Boomerang Kids
Pew’s research shows how common it has become for young adults to move back home, with 57% of those aged 18 to 24 living with parents. In 1993, that figure was 53%. Today, 21% of those aged 25 to 29 live with their parents.It notes that financial independence is a work in progress and that 44% of adults ages 18 to 34 with a living parent say they got financial help from their parents in the past 12 months. That can range from parents helping with medical bills and education to covering cellphone bills, subscriptions, and streaming services.
Though 64% of young adults who live with a parent say the arrangement has positively affected their financial situation, it takes a toll on parents. Just 27% of parents say living with their young adult children has been a positive experience. For 18%, the experience has been negative financially.
Set boundaries, protect yourself
Here are six considerations if your kids have turned to you for help.
- Don’t jeopardize your financial security. FINRA suggests lending only money you can spare without compromising your financial stability or retirement. Think about your current and future expenses, retirement contributions, and emergency funds and how they’ll be affected by loaning money.
- Will you be repaid? Consider the likelihood of getting paid back. If you expect never to see the money again and you’re fairly sure it will be a gift, only offer an amount you can afford to lose.
- Clarify your boundaries. Discuss what you’re willing to pay for. Maybe you’re okay with pitching in for essentials like housing and insurance but draw the line at paying for vacations, streaming services, or a new phone.
- Get advice. If you’re considering a significant one-time gift or committing to long-term support, talk with your financial planner and accountant to fully understand any potential tax implications and the risks to your retirement.
- Outline repayment plans. Create a repayment plan, decide whether to charge interest and weigh the benefits of putting the loan terms in writing.
- Boost financial literacy. If your kids need help with money basics, help them identify their goals and challenges and develop a budget and an emergency fund. Also, explore strategies for saving for a house, paying off student loans, and finding a path to financial independence.
Resources include:
If you have questions about making a transition to assisted living or aging in place in a home you love, contact Leslie.
