CHALLENGES FOR WOMEN IN RETIREMENT

Oct 17th, 2011 | By Sharon Shaw Elrod MSW EdD | Category: For Senior Women

Women Identify Retirement Issues

Retirement poses many challenges for women, and for Baby Boomers about to retire.  In addition to considering how they will spend their senior years productively, women face the usual issues of financial security, health concerns and where to live. If still married or involved in a committed relationship, the considerations must take the partner into account.  Increasingly women who choose to live independently are finding they need to take a serious look at how they want their long term care handled in the event that becomes necessary as they age.

AARP’s Decide, Create, Share program is aimed at the 40-60 year old woman who is planning her retirement. The focus here is in four areas: Health, Finance, Legal Issues, and Home and Community.  Long term care is just one of the concerns highlighted in this educational effort.

Women are learning they have options ranging from in-home care managed by home health specialists, to assisted living in a residential facility or in a small group home, to skilled nursing home care when the needs become that significant.  The important factor here is identifying the options and beginning to determine which ones are available in one’s community, and which ones individuals may want to consider when the time comes.

Planning is the Key

What the 40-60 year olds are learning is that planning is the key for ensuring they are prepared financially and psychologically to make the move to an appropriate care facility when the time comes.  Learning about them when decision-making abilities are still strong and identifying desired options paves the way for change in one’s senior years.

The AARP planning process includes deciding what kind of future you envision for yourself.  What do you see yourself doing?  How are you living?  Where are you living? How are you spending your days productively?

The process moves on to creating a plan that helps you achieve the goals you envision.  What financial picture will you need to have to live the way you want in your elder years?  What will you need emotionally and psychologically for support for changes that are inevitable?  Is a long-term care insurance policy an option?  If so, how will you go about identifying the best policy for you?

The third step is to share your plan with trusted loved ones in your life.  Be sure they know what you want, what plans you have put in place, and how they can be supportive.

So for women choosing to live independently in their senior years, it is not too early to begin planning for that life.



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