weekly blog--one for the ages
Super Tuesday is done, and after 2.5 months so too is our kitchen renovation. I only bring this up because it leads to the inevitable series of questions that aging home owners face: how much longer should we live in our house....when is the optimal time to downsize and capitalize on our investment...and if we do downsize, where should we live.
For some people the choice is simple--sell the house as soon as the kids move out, and then buy or rent a property in an area with a lower cost of living. For others, like my wife and I, the pressure of taking care of an elderly parent close to home has clouded the picture.
Given our circumstances, Aging in Place seems like the best option for the foreseeable future, especially with more and more support resources becoming available. But the decision would not be complete without at least going through the motions of downsizing. And to that end, it means getting rid of stuff you no longer need, organizing your financial portfolio and preparing the appropriate legal documents to protect your assets, and maybe the most important of all, sharing the information and your thoughts on the future with the ones that will be most involved in managing your life when you no longer can.
Some downsizing stats:
Product of the Week: MedCottage, an intriguing solution if you are concerned about the living options for an elderly parent.