1 September 2021
For many Australians, the decision to move into retirement living can be difficult and fraught with emotion, yet downsizing is a process most of us will go through. When the time comes to taking the next step, there are many considerations to weigh up. Cranbrook Care, a multi-award-winning provider of premier aged care and retirement residences, has developed a list of top ten tips for making the transition to retirement living.
Kerry Mann, CEO of Cranbrook Care, understands the overwhelming sense of uncertainty that retirees and their families experience when deciding to transition into retirement living.
“Many of us have friends and family who are understandably concerned about our welfare and wellbeing as we age. It’s hugely important that they are brought into the decision-making process early to make sure that retirees are comfortable with the choices being made,” said Kerry Mann.
“There are some clear signs to look for that might indicate that making the move to retirement living could be the right decision for you, such as declining health, finding it difficult to maintain your home or a large garden, having rooms in your house that are not frequently used, or beginning to experience difficulties managing stairs or other areas of your property. If this sounds like you or your family member, now might be the right time to start thinking about making the transition to a retirement lifestyle, which can offer a wealth of benefits for those who are looking to slow down the pace a little and enjoy all that this time of life has to offer,” adds Ms. Mann.
Retirement is not a single event. It is a process that begins long before you leave work and continues for the rest of your life. Here are Cranbrook Care’s ten top tips on how to transition into retirement and beyond:
1. Start The Conversation
Moving to a retirement residence is an important lifestyle decision. Start by having open and honest conversations with family and friends to gain different perspectives on the move. This will help loved ones feel included and part of the process, as well as helping you with making a considered decision.
2. Assemble A Team
You will need to create a reliable support team to help guide and support you through this transition. This should include family, a financial advisor/accountant and an estate planner/solicitor, as well as close friends who may have also recently made the decision to move to retirement living and are likely able to offer a wealth of advice.
3. Finding The Perfect Time
Common signs that indicate that it might be time to start creating a retirement plan can include declining health, struggling to keep up with general household maintenance, having multiple rooms in the house that are no longer in regular use, or having mobility issues when navigating areas in your current property such as stairs. Perhaps you simply have the desire for an easy ‘lock and leave’ lifestyle which could allow you to travel without having to worry about home and garden maintenance.
4. Do Your Research
Take the time to search the internet for retirement living options in an area that you like. Find and read reviews of various properties to understand different experiences. Create a checklist of requirements that you would hope to be in your future living plan. Consider what’s important to you and ask questions. Can family and friends visit, what are the monthly fees, are pets welcome, what extra services are available?
5. Seek Expert Financial Advice
Contact a qualified financial advisor specialising in retirement planning. This will assist you in determining your financial future.
6. Pay A Visit
Get out and about and visit the locations you have researched. Whilst visiting the property, ensure to enquire about any regulations that may apply before moving into your desired community. Look out for open days or information sessions to attend.
7. Prepare Your Home For The Market
Keep updated on the current state of the property market. Many retirement residences can recommend a real estate agent who they have previously worked with who might be able to suggest small ways of making your home more attractive to prospective buyers.
8. What To Take
Now that you are downsizing, be sure only to take the things that you really need by asking yourself some tough questions. Will you still need that 10 seated dining table? Take your most precious mementos with you, but also consider that a move to retirement living provides an exciting opportunity to update or redecorate your home.
9. Service Offerings
Read the fine print of the contract before you move into your chosen retirement residence and make sure it includes service offerings that will increase as you age, such as the availability of home care or residential aged care, allowing you to stay in your home for longer.
10. Move In!
You’ve done it! Retirement is the time for you to live life to the fullest - make new friends, start a different hobby or simply just relax.
Although making these decisions can be daunting - there are a number of benefits to consider for those who might be looking to make the change - convenience, opportunities to meet new friends, low maintenance living, increased independence and safety and security.
Transitioning to retirement living can be complex, but we can help with the financial aspect of the move, to discuss please call 6260 4994.
Cranbrook Care strives for exceptional wellbeing for all residents, including providing physical and emotional security and excellence in both its built environment and service offering. Cranbrook Residences is a boutique retirement community nestled in the heart of the Hills District, offering a unique and luxurious lifestyle, with residents enjoying exceptional architectural design surrounded by beautifully landscaped gardens overlooking the pond to the Castle Hill Country Club golf course. Cranbrook Residences combines stunning dwellings with a raft of on-site amenities, lifestyle activities and social events for residents.
Source: This article was originally published on https://agedcareonline.com.au/2021/05/Top-10-Tips-for-Transitioning-to-Retirement-Living.
Important:
This provides general information and hasn’t taken your circumstances into account. It’s important to consider your particular circumstances before deciding what’s right for you. Although the information is from sources considered reliable, we do not guarantee that it is accurate or complete. You should not rely upon it and should seek qualified advice before making any investment decision. Except where liability under any statute cannot be excluded, we do not accept any liability (whether under contract, tort or otherwise) for any resulting loss or damage of the reader or any other person.
Any information provided by the author detailed above is separate and external to our business and our Licensee. Neither our business nor our Licensee takes any responsibility for any action or any service provided by the author. Any links have been provided with permission for information purposes only and will take you to external websites, which are not connected to our company in any way. Note: Our company does not endorse and is not responsible for the accuracy of the contents/information contained within the linked site(s) accessible from this page.
