SerpApi.Org
When we’re young, we might not think about the logistics of aging at all. Then, as we move through phases in our lives, we may expect a spouse, kids, or grandkids to take care of us or help us make decisions when we’re older.
Life doesn’t always play out that way, though. Whether you’re divorced, your spouse has passed away, you chose to stay single, you’re estranged from your children, or you never had kids — there are many reasons people age alone.
Must Read
Jeff Bezos backs a platform that lets anyone invest in rental homes for as little as $100 — 6 ways to build wealth like a landlord without actually being one
Dave Ramsey warns nearly 50% of Americans are making 1 big Social Security mistake — here’s what it is and 3 simple steps to fix it ASAP
Vanguard’s outlook on U.S. stocks is raising alarm bells for retirees. Here’s why and how to protect yourself
Amy Kant has enjoyed much of her life as a single woman. But at age 65, she now must deal with medical procedures, estate planning, and downsizing her home, which is a lot to take on by herself.
“It all falls on me,” Kant told The Wall Street Journal (1).
It can be overwhelming to take on these new responsibilities without family members by your side. It can also feel difficult to ask friends to take on huge roles in your life, such as driving you to appointments or acting as your power of attorney.
Here’s how to take action so that aging alone is easier and less stressful.
Hire financial professionals to do the heavy lifting
You may have limited personal support as you age alone, but you can build a team of experts to provide professional support.
If you don’t already have a financial adviser, consider hiring one with experience working with seniors. They’ll gather your financial documents to gain a deep understanding of your fiscal situation. Then, they’re able to help you understand how careful you need to be with spending moving forward, based on your savings and assets. They can also answer any questions about things like retirement plan distribution requirements.
An estate attorney will help you set up an estate plan, including drafting a will, creating a living trust, naming powers of attorney, updating your beneficiaries, and more (2).
It does cost money to work with a financial adviser and estate attorney, but the payoff is usually worth it. Ask others in your personal network about which professionals they may have used, or search online to find affordable, recommended experts in your area.
Decide where you want to live in your golden years
One of Kant’s main concerns is changing her living situation. She currently lives in a condo with stairs. This arrangement is difficult for people aging alone who don’t always have someone nearby to help them around their home. Not only are stairs impractical for many as they get older, but if you’ve had a recent surgery, as Kant has, stairs become even more difficult to use.
Kant is looking into 55+ living communities. These areas typically don’t provide healthcare services, but they charge dues so their staff can handle issues that become harder as you age, such as yard work or home repairs. Many even include amenities (3) such as golf courses, workout centers, and pools.
If you’re a little older, you may prefer a continuing care retirement community (4) (CCRC). These living arrangements offer many of the same perks as 55+ communities and also provide health services. As a result, they’re often better for people who want to move to one place and stay long-term. These added perks also make them more expensive (5) than 55+ communities.
Do you want to maintain more independence in your golden years? You could always just downsize into a smaller, single-story home that requires less upkeep and is easier to get around.
Build a medical care team before the last minute
You don’t want to wait until an emergency to find a medical team on which you can rely. A major benefit of a CCRC is that it provides nursing staff and assisted living care.
If you’re living at home or in a 55+ community, you’ll need to find your own medical care. You may prefer to see medical professionals who specialize in care for older patients. For example, home health care services (6) can visit your home for a few hours a day or longer, depending on your needs and budget. They help with things like physical therapy and distributing medications. Home health care is especially useful if you are recovering from surgery or sickness.
Home health aides (7) are also worthwhile options for people aging alone who can’t drive anymore and need rides to social events, the doctor’s office, or other appointments. They’ll even stay at an appointment with you so you have a second set of ears to gather and retain important information.
If you can afford it, look into hiring a concierge doctor (8). You’ll probably pay a monthly or annual retainer fee, but you’ll receive personalized care and longer visits. The physician will also have the time to get to know you well, which helps them tailor treatments to your needs.
There are a lot of logistics to figure out as you age, and the list can feel never-ending if you don’t have a partner, children, or close family to help you check off tasks. However, by planning ahead of time and choosing the right professionals, you can set yourself up for later in life.
You May Also Like
Here are the 7 top habits of ‘quietly wealthy’ Americans. How many do you follow?
'Gold still crashing!': Robert Kiyosaki admits he was wrong — but doubles down on his $35K prediction
The tax breaks in Trump's 'big beautiful bill' expire after 2028 — and experts say most people won't act in time. What to do before the window closes
I'm 49 years old and have nothing saved for retirement. What do I do? Don't panic. Here are 7 ways to catch up fast
Enjoyed this Moneywise story? Click Follow above for more. To get our best content and exclusive interviews first, join 250,000+ readers who subscribe to our weekly newsletter.
Article Sources
We rely only on vetted sources and credible third-party reporting. For details, see our ethics and guidelines.
The Wall Street Journal (1); National Council on Aging (2); My Life Site (3); Bethany Lutheran Village (4); Masonic Village Sewickley (5); National Institute on Aging (6); AgingCare.com (7); Salta Direct (8)
This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
