Considering Retirement Accommodation Options

Considering Retirement Accommodation Options

I recent months I’ve started to do a lot of future planning. I’ve looked at finances, insurances and even retirement. A lot of people tend to avoid the topic of retirement as much as they can. They think that it’s not going to happen any time soon and that they have plenty of time to save up money for the day they exit the workforce. In reality, you should be planning for retirement as early as possible to help you manage your financial responsibilities. Early retirement can sound like a good idea, but it’s actually more about reaching financial freedom so that you can safely retire with ample funds to live out your golden years. If the current situation has taught me anything it is that having your bases covered, from pensions to considering retirement accommodation options should be put off.

 In this post, I’ll be covering some of the most common retirement accommodation options and why you should consider them.

Considering Retirement Accommodation Options: House Sharing with Relatives

If your relatives or family members are inviting you to stay with them, then this can be the most economical option since you can simply sell your home and take all the capital into your retirement fund. This can be a great option for families with larger homes. 

Care Homes

For seniors with medical or mobility issues, care homes might be the most practical solution for retirement accommodation. You’ll be given a private room and shared communal areas to engage with other residents and staff members. While it can feel a little restrictive, it does provide the best care that you could ask for. Senior care ranges from full-on nursing support to much more independent choices. These are worth considering as you don’t know what your future holds and you want to be able to afford the best choice for you.

Retirement Villages

If you’d like to be surrounded by purpose-built developments and other seniors around your age then retirement villages can be a fantastic choice. These can provide a huge mix of accommodation styles and you’ll be able to downsize your existing property to something a lot smaller and affordable. Consider a set up such as ERL retirement villages that offer lots of additional services and local amenities that can enhance your experience. While there are some age restrictions, these self-contained villages can feel like holiday homes in some cases and will provide lots of extra comforts that will make your life a lot easier.

Considering Retirement Accommodation Options: Staying in Your Current Home

Of course, you could just stay with your current home if you’re content with it.  While many people prefer to just stay in their own home, there are arguments for downsizing that should be considered since it can save a lot of money and offer more comfort. Staying in a large and empty home isn’t for everyone but it really depends on your personal preferences.

Just like how you have lots of retirement options, there are also lots of different choices for retirement accommodation. Doing your research here is important because purchasing a retirement property can be a huge investment.

Have you started to look differently at your future because of what is going on in the world and your world right now? I certainly have. Next up is to take another look at my insurances to make sure everything is up to date and that my cover is adequate.

Retirement Options

Retirement Options

Do you ever think about your retirement? We do. We’ve been working so long that it becomes a puzzling question of what shall you do now for the rest of your life? Work gives us routine and something to aim for, but retirement seems to take all that away. That’s what it might seem like on the surface especially to people who haven’t done proper research into their options. Retiring for many people seems scary because it’s like a confirmation that they are heading into their twilight years. However, retiring from the workforce and living your own life without any worries of a 9 to 5 should be uplifting. Now you get to do all the things you never thought you could and really spoil yourself post retirement. 


 Using Your Senior Skills

Many people above the age of 70 still retain a lot of enthusiasm for their profession. In fact look around the world and you see many people in their 70s in the most senior positions of business and many other jobs. This is because they have a lot of experience, knowledge, and have made the right decisions to become a senior figure in their industry. If your parents are looking to retire and are one of these people or you believe that they have such great skills that they shouldn’t be wasted, speak to them about working for themselves as a consultant. Consultants are basically like freelancers, they offer their skills and expertise to anyone that is willing to listen and pay them.

You don’t have to do anything that is tiring or requires a lot of legwork. Your wisdom and words are the only thing people want. These people that would hire you would be entrepreneurs that want knowledge of special tactics, small business owners that want to grow and expand, and of course corporations that need cool and calm experienced heads in their boardroom. Many c-suites will use senior consultants as their personal advisors and these positions can easily fetch a cool six-figure salary. So if you have parents that are retiring from a busy office, tell them that if they still have passion for their industry, they might want to become a freelance consultant. 

 Low Stress High Reward

Much like the consultant work, there are teaching jobs you can take on to pass on your knowledge. If you are someone looking to retire from the workforce and just take each day as it comes and slowly relax into old age, you can still find pleasure in teaching. For example, if you are a professor in a university and you just want to stop marking coursework and exams, as well as teaching full classes but still love your work, then look towards tutoring. Why should you stop working just because your body is ageing? If your mind is fresh and loves your subject so much that you want to impart knowledge into the world, then look toward becoming a private tutor.

Firstly, it’s far less stressful as you’re only dealing with however many clients you wish. You pick the days you want to work and the hours you want to put in.  Since you’re dealing with clients on a one-on-one basis, you can take your time to explain the intricacies of your work and the things they need to understand. You can tutor at your home and have no need to meet up anywhere. It’s simple, it’s relaxed and it’s still mindfully engaging.

Retirement With Care

If you’re someone that is looking to retire but you would still like to enjoy the things in life you have now, then you have many options. Those that know they are physically unable to wander around and go see things they would like to, often find themselves in the house a lot. For that you have options for carers to come visit you at home and perform all sorts of tasks. Take a look and compare the live-in care options that you have regarding your own city. The website offers a directory to many services and then compares them to see which might be best for you. The feedback that each service receives is also taken into account so you can make the best choice from previous users. We’re not quite at this stage yet but it’s good tobe able to have such info to pass onto relatives.

Retirement is far from boring, not in this day and age. That old image of a gloomy few final years is but a stereotype that needs knocking on its head. Now you can still work, but absolutely to your own wishes and probably make more money as well. You can tutor privately, passing on knowledge to the next bright young minds. You may want to take up private consulting so you can help executives in their companies while playing a less stressful role.