The Pros and Cons of Living with Children in Retirement

August 1, 2023

Combining households can be a positive experience for everyone. In order to ensure that every member of the family is comfortable with living together, it will be important to talk it out. Communicating about any concerns before moving in together and then regularly thereafter will ensure that everyone remains happy with the decision to cohabitate. Amy Goyer, an AARP family expert, tells children of retirees to embrace the chance. “Look at this as an opportunity,” she adds. “You have a chance to enjoy your mom or dad in their later years. This is a way for children to know their grandparents in a way they wouldn’t otherwise.”

Before combining households, retirees and their children should consider all of the pros and cons of living together during retirement beforehand.

The Pros of Living With Children During Retirement:

1. Retirees can be a big part of their grandkids’ lives. Many parents choose to live with their children during retirement so that they can be a major part of their grandkids’ lives. Some parents want to help their children raise their kids, such as picking them up from school, helping with meals, or taking their grandkids to their extracurriculars after school. Parents who were busy with work while their own children were growing up may feel that they can now make up for lost time.
2. Your family will have a strong support system in place. While you may want to help your children with their needs, they may also need to help you. This can range from needing a ride to a doctor’s appointment to needing care after surgery or during an illness. Either way, living together will enable each of you to be more available to one another in times of need.
3. Combined expenses may make living together more cost effective for both of you. Having a real financial talk with your children before you decide to combine households may prove that it could save each of you a lot of money. Coming up with a budget of shared expenses can actually help family members thrive both as a whole and individually. With the right budget, retirees shouldn’t have to dig into their retirement as much every month, while their children will be able to save up more of their monthly income.

In addition to communicating with one another about finances and caretaking roles, make sure everyone is allotted their own personal time. For instance, grandparents may opt to have their friends over while their grandkids are in school and their children are at work. Working together to ensure that every member of the family gets space from one another from time to time will help prevent anyone from feeling stifled. Retirement expert Nancy K. Schlossberg, author of Too Young to Be Old: Love, Learn, Work and Play as You Age, says, “If you do your emotional work upfront, you’re more likely to be satisfied with your final decision.”

The Pros of Living With Children During Retirement Could Also be the Cons:

1. Retirees may not want to become full-time babysitters. If your children have children, and you’re disinterested in being a full-time babysitter to the grandkids, setting boundaries upfront about what you do and don’t want to do will be extremely important. Also, consider day-to-day life with young children and maybe pets. “If you have no tolerance for noise, do you want to move into a house with children or teenagers?” asks Jennifer Prell, president of Illinois elder-resource network Silver Connections.Be realistic about what you will and won’t be able to handle on a daily basis.
2. Children of retirees may not want to become full-time caretakers either. Children of retirees may not be prepared for the burden of caring for their own parents.Again, establishing what everyone is comfortable with will be imperative. Contemplate the worst-case scenarios before moving in together. “Even if Mom moves in relatively healthy, that could change overnight,” elder-law attorney Kerry Peck points out. “Families generally underestimate the amount of care that Mom is going to require.”
3. Retirees (or their children) may end up footing the bill for everyone. If retirees or their children become overly reliant on one another, then moving in together may become more expensive for one party than remaining apart. Having an honest talk about financial responsibilities and emergency savings before moving in together should help prevent unexpected expenses for either one of you down the road. “So many families run into trouble when something bad unexpectedly happens,” says Jill Schlesinger, author of The Dumb Things Smart People Do With Their Money. “That’s why it’s so important to talk to your kids about the What-Ifs,” said Schlesinger.

Consider Alternatives to Living Together

If you decide that joining households may not be the best option for your family, there are alternatives. Simply living closer to one another can reap the same benefits of living with children during retirement while removing the downsides.

While there’s an appeal to living ten minutes from one another, one of you may feel as if some of your independence has been lost. Talk to your children, and decide how close is too close. If in the end, you decide to live farther away from your children, planning reciprocal visits or spending part of the year with them may turn out to be the best of both worlds.

If you do decide to remain independent during retirement, make sure there’s plenty of room in your home for your children to visit or stay overnight. If you have more than one child, factor in enough space for all of them and their families, so that each of your children may visit you simultaneously.

Insureyouknow.org

In the end, living with your children during retirement should be beneficial for both of you. Insureyouknow.org can help your family keep the peace. When combining households, keeping the budget, financial information, healthcare records, and even family schedules in one easy-to-access place can help everyone work together to keep the household running smoothly. Since communication will be the key to living happily together, it will be important for everyone to be in the know.

Take These Five Simple Steps to be Healthy at Any Age

July 14, 2023

Cognition, our ability to think clearly, often declines as we get older. While some may develop Alzheimer’s or dementia, many will experience changes in learning, memory and thinking. Research proves that taking small steps toward living a healthier life helps to minimize declines in cognition, such as maintaining physical activity. Incorporating regular exercise is just one of the following five simple steps to be healthy at any age.

1.     Exercise regularly.

“Exercise is also one of the best things you can do to help prevent dementia and other cognitive changes,” says Argye Hillis, M.D. at John Hopkins Medicine. “Once you’re cleared by your doctor, aim for at least 30 minutes of physical activity most days of the week.” Combining eleven studies, the Alzheimer’s Society found that regular exercise reduced the risk of developing dementia by 30 percent, and the risk of Alzheimer’s specifically was reduced by as much as 45 percent.

If exercise is something you loathe, it doesn’t take a lot of strenuous activity to improve one’s overall health dramatically. Walking for a total of 30 minutes a day helps keep the brain healthy by delivering more blood and oxygen to cells. In addition to preventing Alzheimer’s, walking can boost mood, keep bones and muscles strong, and reduce the risk of other diseases, such as heart disease and diabetes.

When someone is ready to get serious about preventing age-related problems, resistance training is going to be the best place to start. “The average woman can lose 23 percent of her muscle mass between the ages of 30 and 70,” says Fabio Comana, an exercise physiologist at the National Academy of Sports Medicine. “Resistance workouts in particular – can increase mass and strength well into your 90s.”

Resistance training is simply exercising your muscles using an opposing force, and the best part is that anyone can practice resistance training using no more than their body weight. Squats, push ups, and planks are all examples of resistance training that can be practiced anywhere.

2.     Improve your diet.

It is undeniable that the food someone eats plays a major role in how they feel. “Ninety percent of the diseases known to man are caused by cheap foodstuffs,” said Victor Lindlahr, an American nutritionist in the 1930s. “You are what you eat.” If someone wants to feel good, then there’s no way around eating better.

In 2022, the U.S. News & World Report named the Mediterranean diet the Best Overall Diet for the fifth year in a row. According to research by Harvard Medical School, the Mediterranean diet may help prevent heart attacks, strokes, and premature death.  “The latest research shows that a low-glycemic diet high in fresh fruits and vegetables, whole grains, and lean protein is healthiest,” Jeffrey Benabio, M.D. at Kaiser Permanente Primary Care, tells patients.

3.     Make quality sleep a priority.

Did you know that not getting enough sleep can put an individual at higher risk for developing diabetes, cardiovascular disease, depression, and even obesity? Recent research even shows a link between insomnia and accelerated aging of the brain. “Too many of us treat sleep as a luxury instead of a need,” says Dr. Benabio of Kaiser. “If I could encourage people to make one healthy change, it would be to sleep more.”

The National Sleep Foundation recommends adults get 7 to 9 hours of quality sleep every night. They also point out that most sleep problems are a result of underlying medical conditions, such as acid reflux, which is why addressing any sleeping problems with one’s doctor is a good place to start.

4.     Schedule regular checkups with your doctor.

Regular checkups with the doctor, dentist, and other specialists are invaluable opportunities for people to catch problems early and treat them before they become bigger problems. A 2021 study by the National Library of Medicine found that individuals who went to the doctor regularly reported improved quality of life and feelings of wellness. Plus, visiting the dentist and preventing inflammation in the mouth can help manage other inflammatory conditions like diabetes and heart disease, according to the American Academy of Periodontology. Keeping up on these yearly appointments and follow ups is a simple thing that can reap life-saving benefits.

5.     Take Time to Connect

The World Health Organization estimates that more than 300 million people worldwide suffer from depression, with many more affected by anxiety disorders. Someone who feels lonely is more likely to get dementia or depression. This is because such individuals have higher levels of stress hormones which cause inflammation in the body and a lowered immune response. Strong friendships alleviate stress, improve emotional well-being, and are markers of physical health. Experts suggest people can grow their social connection by creating a community through their work relationships, by volunteering, and by making friendships a priority.  “Strong bonds won’t happen overnight, but starting small and prioritizing friendships as an important part of your life can bring more happiness, less stress and more support,” says Adam Smiley Poswolsky, author of Friendship in the Age of Loneliness. “You know someone is a true friend when they have your back when you’re sick, when you lose your job, when you make a mistake, when you’re going through a break-up, when you’re stressed, when you’re sad.”

Insureyouknow.org

Stress is inevitable, and it is proven to negatively affect one’s health. By following these five simple steps, anyone can decrease their levels of stress and increase their overall wellness. Physical activity, eating a balanced diet, good sleep, and social support can all combat the effects of stress on the body. You may be thinking that while you’re already stretched thin, fitting in these healthy practices may cause you more stress. That’s why starting small with manageable changes will help you incorporate these steps into your routine. Insureyouknow.org can help you manage regular checkups and social engagements and even keep track of medical records, diet journals, sleep data, and exercise logs. Keeping all of your information in one place makes it easy to recognize the positive impact these simple steps will have on your overall health.