It is usually tough for parents to talk about their retirement because retirement is a big transition for them. Parents are attached to their children and it would be hard for them to accept that their children would have to leave them to live on their own. However, as children of your parents, you should understand where they come from and help them in ways that you can. It is important that you also learn how to help your parents plan for their retirement. Retirement is a big change for your parents and letting your parents know that you are helping them in their retirement plans and supporting them will be a huge relief for them. Listed below are some tips that will allow planning for retirement of your parents much easier.
1. When parents retire, they will receive an amount that would not last for very long if they wish to continue to live the life they were accustomed to. Thus, it is very important that you offer financial help to your parents. Finances are the most important aspect of retirement because, if they do not have enough, they would be required to return back to work. Offer to set your parents up with a financial advisor who will help them wisely plan for their retirement and will help them manage their finances as well.
2. Openly ask your parents where they wish to live when they retire. Do not dictate to them where they should live and how to live their lives. Help them plan their retirement by discussing with them the benefits of staying in their current home, the advantages of downsizing or the gains of moving to a retirement community where there would fewer responsibilities.
3. Ask your parents what they plan to do after they retire. Some plans might include, travelling the world, pursuing hobbies, etc. Discussing their plans is important because you will be able to adjust your schedules so that you and other family members will have the time to see them.
4. It is not healthy for parents to just stay at home and watch TV after their retirement. Encourage them to do volunteer work and invite them to social events. Always encourage your parents to go out so that they still live a healthy lifestyle and routine.
5. Make your parents understand the importance of taking care of their health after their retirement. After their retirement, they no longer have medical benefits; thus, discuss with them the importance of getting personal health insurances for their own health issues. Find them a doctor and as their children, check up on them from time to time.
6. Keep in mind that your parents would still be your parents no matter what. It doesn't matter whether you are the one providing them with what they need now, because no matter how old you get, the fact remains that they are your parents. So, if they are being stubborn and do not want to discuss their finances, health or anything with you, you should just learn to step back and be respectful of their decisions. However, assure them that if they need something from you or if they simply need you, you would always be available to help them.
As children of our parents, we have the responsibility to take care of them when they get old. It is best to help them plan for their retirement as soon as possible so that they have a wide range of options and they would not be rushed into anything. Help them get a copy of their credit reports, so that they could plan accordingly what they want to do after their retirement.
1. When parents retire, they will receive an amount that would not last for very long if they wish to continue to live the life they were accustomed to. Thus, it is very important that you offer financial help to your parents. Finances are the most important aspect of retirement because, if they do not have enough, they would be required to return back to work. Offer to set your parents up with a financial advisor who will help them wisely plan for their retirement and will help them manage their finances as well.
2. Openly ask your parents where they wish to live when they retire. Do not dictate to them where they should live and how to live their lives. Help them plan their retirement by discussing with them the benefits of staying in their current home, the advantages of downsizing or the gains of moving to a retirement community where there would fewer responsibilities.
3. Ask your parents what they plan to do after they retire. Some plans might include, travelling the world, pursuing hobbies, etc. Discussing their plans is important because you will be able to adjust your schedules so that you and other family members will have the time to see them.
4. It is not healthy for parents to just stay at home and watch TV after their retirement. Encourage them to do volunteer work and invite them to social events. Always encourage your parents to go out so that they still live a healthy lifestyle and routine.
5. Make your parents understand the importance of taking care of their health after their retirement. After their retirement, they no longer have medical benefits; thus, discuss with them the importance of getting personal health insurances for their own health issues. Find them a doctor and as their children, check up on them from time to time.
6. Keep in mind that your parents would still be your parents no matter what. It doesn't matter whether you are the one providing them with what they need now, because no matter how old you get, the fact remains that they are your parents. So, if they are being stubborn and do not want to discuss their finances, health or anything with you, you should just learn to step back and be respectful of their decisions. However, assure them that if they need something from you or if they simply need you, you would always be available to help them.
As children of our parents, we have the responsibility to take care of them when they get old. It is best to help them plan for their retirement as soon as possible so that they have a wide range of options and they would not be rushed into anything. Help them get a copy of their credit reports, so that they could plan accordingly what they want to do after their retirement.
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