Elder Transitions Are Never Easy!
Do you have a Senior Family Member who is stubbornly clinging to their Independence and refusing to leave their home? If so, you probably know their physical capabilities are diminishing and your anxiety concerning their health and safety is creating constant stress. You may have investigated alternative living options but they all have been flatly rejected, creating additional stress and leaving you wondering why your Loved One cannot accept the inevitable with grace.
First and foremost, it is important to realize that a Life Change imposed by factors as normal as aging can create frustration, and even anger which triggers a desire to fight back. Unfortunately, aging always wins sooner or later, and the best thing you can do is to find ways to reduce the urge to fight. There are plenty of counselors who can help, and they may be worth the time and money it takes to change a stubborn mind. This approach can be helpful if you are pursuing Assisted Living options, or Senior Living communities. However, even though your first inclination is to declare Money is No Object, you should be aware that these solutions can be very costly and will consume wealth over time. With all the advances in Medical Technology and Genetic Science, be prepared to plan for increased Human Life Spans which have been projected to increase between 20-50 years.
Or, you could take a different path that combines the best concepts of Downsizing and Transitioning. Consider a Multi-Family property and be creative as to how you use it. Let your Loved One have a separate building that will allow them to feel Independent and will allow you a variety of options make sure they are happy and safe.
Unlike providing a Live-In Caregiver, or a Visiting Care-Giver, your Loved One is not sharing their space! If their building is the second building on the property, like a Casitas, you can choose from several ways to fill the primary building, many of which might provide significant tax advantages. Keep in mind that monitoring behavior and providing occasional assistance is very different from the Caregiver approach in the way it is perceived. You should also know that the size and access to the outside world is important psychologically, so apartments and Granny Flats are likely out of the conversation.
And unlike many Senior Living Communities, the advantage of buying a Multi-Family property that does not have restrictions and costly monthly association fees is the Income Producing Potential it provides once your Loved One no longer needs their Independence.
Most important for a successful Transition is the recognition that every situation requires a custom solution developed over time through an open and honest exchange of Feelings, Needs, and Finances, and including all the parties impacted. The sooner you begin your analysis the better your result!
About the Author: Rick Johnson is a local Senior and Grandfather certified by the NAR as a Seniors Specialist. He provides custom Downsizing and Transition solutions designed to Preserve Wealth and provide Income Growth that will outlast the projected increases in Human Life Spans.
For more tips, and personal guidance when you are ready, please contact me at your convenience. I have over 30 years of Financial Maximization in my background and can help you Mastermind a Strategy that will achieve a balance of your financial and lifestyle goals!
Do you have a Senior Family Member who is stubbornly clinging to their Independence and refusing to leave their home? If so, you probably know their physical capabilities are diminishing and your anxiety concerning their health and safety is creating constant stress. You may have investigated alternative living options but they all have been flatly rejected, creating additional stress and leaving you wondering why your Loved One cannot accept the inevitable with grace.
First and foremost, it is important to realize that a Life Change imposed by factors as normal as aging can create frustration, and even anger which triggers a desire to fight back. Unfortunately, aging always wins sooner or later, and the best thing you can do is to find ways to reduce the urge to fight. There are plenty of counselors who can help, and they may be worth the time and money it takes to change a stubborn mind. This approach can be helpful if you are pursuing Assisted Living options, or Senior Living communities. However, even though your first inclination is to declare Money is No Object, you should be aware that these solutions can be very costly and will consume wealth over time. With all the advances in Medical Technology and Genetic Science, be prepared to plan for increased Human Life Spans which have been projected to increase between 20-50 years.
Or, you could take a different path that combines the best concepts of Downsizing and Transitioning. Consider a Multi-Family property and be creative as to how you use it. Let your Loved One have a separate building that will allow them to feel Independent and will allow you a variety of options make sure they are happy and safe.
Unlike providing a Live-In Caregiver, or a Visiting Care-Giver, your Loved One is not sharing their space! If their building is the second building on the property, like a Casitas, you can choose from several ways to fill the primary building, many of which might provide significant tax advantages. Keep in mind that monitoring behavior and providing occasional assistance is very different from the Caregiver approach in the way it is perceived. You should also know that the size and access to the outside world is important psychologically, so apartments and Granny Flats are likely out of the conversation.
And unlike many Senior Living Communities, the advantage of buying a Multi-Family property that does not have restrictions and costly monthly association fees is the Income Producing Potential it provides once your Loved One no longer needs their Independence.
Most important for a successful Transition is the recognition that every situation requires a custom solution developed over time through an open and honest exchange of Feelings, Needs, and Finances, and including all the parties impacted. The sooner you begin your analysis the better your result!
About the Author: Rick Johnson is a local Senior and Grandfather certified by the NAR as a Seniors Specialist. He provides custom Downsizing and Transition solutions designed to Preserve Wealth and provide Income Growth that will outlast the projected increases in Human Life Spans.
For more tips, and personal guidance when you are ready, please contact me at your convenience. I have over 30 years of Financial Maximization in my background and can help you Mastermind a Strategy that will achieve a balance of your financial and lifestyle goals!