As we older our bodies and our lifestyles change. As a youngster it is quite hard to imagine these changes and the differences that occur and as such it is quite hard to plan for the eventuality of getting old. But planning for old age is very important particularly because it is no fun reaching life’s twilight and suddenly losing your independence and having to rely on other people to get things done. In some cultures it is expected that your children will look after you, but increasingly the goal of the older generation is not to have to impose on their offspring. If this is to be the case then here are a few important things to consider.
Mental and physical well being
As young people we tend to take our health for granted, but this is something that cannot be relied on forever. The older we get the more frail we become and inevitably when considering what it will be like in the years past retirement one should factor in things like medication and healthcare equipment. Some of these things might be supplied by the state, but the State doesn’t always provide the top of the range or the best solutions, and medical aid might only cover a portion of the costs. 55 plus communities are also designed to be convenient for people aged 55 or older. So think about how things are shaping up and plan accordingly. Whatever you do, make sure that your medical aid continues to cover you, it is towards the end of your life that you really need it so pick the right one while you still can.
Unless you intend working until the very end you need to start saving for retirement as young as possible. But it is also important to be aware that retirement in our current day and age is very different to what it was fifty years ago. Life expectancy has increase massively for a start and now days instead of planning to live until you are 80, you should probably be planning to live until closer to 100. The last thing you want is to have worked hard your whole life and then to reach the end of it and have to live the last five or ten years without any funds. It would be terrible and at 85 there is no way that you would want to go back to work.
Inevitably at some point you will have to give up driving as your eyesight and your reflexes deteriorate. But giving up driving is in many ways giving up your independence, so make sure that as you plan ahead for your older years, that you factor this in. Find a place that is close to the shops or to public transport so that you can still get out and about and do things that give you pleasure, even if you cannot drive yourself to them. The other alternative is to familiarize yourself with technology like Uber so that you can summon a ride to your door whenever you want. It is a great solution and safe for your health!