Your parental role as a child shifts when your parents become retirees. Rather than them looking after you, you become more of a support system for them. While this transition comes with growing pains on both sides, you can help by giving them the best care possible while also respecting their independence. Supporting your elderly parents in retirement can include looking after their finances, supporting them emotionally, and thinking about practical considerations.
We’re going to have a look at some of the ways you can support your elderly parent through retirement:
Offer Emotional Support: Get To Know Their Needs
Keep An Open Line Of Communication
One of the most important things you can do to offer your support is to make sure there is an open line of communication. You need to be open and honest about any changes. Retirement is a significant time in your life; your parents may be feeling anxious about the next step in their lives. You need to make sure they feel comfortable talking about their feelings. Make sure you listen without judgment. They could be worried about finances, health, or just the changes that could arise with their daily routine. Being there to talk can make a huge difference.
Encourage Them To Be Social
When you are no longer going out to work, you lose an element of social interaction. This can be detrimental to your mental health. Social isolation is something that is common with older people, so it is important to make sure you are encouraging them to remain social. It could be that they go to clubs, meet up with old friends, or just stay connected with family. Make sure you visit regularly and encourage them to attend family gatherings.
Support Their Mental Health
This is just as important as physical health. Anxiety and depression are common among older people. This means that it is vital that you are proactive when it comes to supporting your parents with mental well-being. Encourage them to take part in activities that they enjoy; it could be reading, gardening, travelling, etc. If you are ever really concerned, it may be a good idea to seek professional help.
Respect Their Independence
Of course, they will need support in some areas, but you need to encourage them to be as independent as possible. Often, the lack of independence is something that affects retirees the most. If they feel like they can do something themselves, then there is a chance they can do it themselves. Respect this, and don’t push anything on them that they aren’t comfortable with. You should allow them to make their own decisions when it comes to things like their future care. It enables them to preserve their dignity and self-respect.
Offer Financial Support
Before you can offer any kind of financial support, you need to understand their financial situation. If your parents are newly retired, they are likely still very much in control of their finances and are able to manage them themselves. However, as they get older, it might be good to have some sort of idea about their income, savings, investments, and expenses. Talk about their retirement plans so you can fully understand when they may need financial support. This may be a difficult conversation. However, it is vital for financial security.
Help Them To Budget
When your parents retire, they may be living off a completely different income from what they have been used to. If they have been living in retirement for a while, any savings or lump sum payment may now be used to live on. Not everyone will need help to create a budget. Still, if they do, you can help them create a realistic budget, find ways they can cut back on expenses, and help them monitor their spending. Hence, they know where their pension is going, which helps them simplify their finances by reducing multiple bank accounts, bills, or investments by consolidating them and making it easier for them to manage.
Not everyone will need this level of support. However, it’s a good idea to make sure they are aware you are there to help if they need it.
Planning Long-Term Care
This is often one of the biggest concerns when it comes to finances. The cost of any long-term care if it is ever needed. It can be hard to talk about long-term care. However, it is crucial when planning ahead. Your parents may never need to use it, but if you have the conversation, you will at least be aware of any wants they have. You could look at insurance options and grant programs and discuss assisted living communities. Assisted living is often something that people favor, as it still gives them the ability to be independent but also gives them the support they need if it’s needed.
Estate Planning
Although you may not want to think about it, it’s important to make sure that your parents have a will in place. They should also have a power of attorney and healthcare proxy in place. Having any documents in place will help them to make sure that their wishes are followed if they become unable to make any decisions for themselves. It may also be advisable to talk with an estate planner or financial advisor if there are any complex issues regarding them.
Offer Them Practical Support
Look At Their Living Situation
As your parents get older, their current living situation may not be right for them. You need to make sure that you assess their living arrangements and improve their environment as much as possible. For the safety of homes, it’s paramount to make sure that they are safe and accessible. You may want to look at adding grab bars in the bathroom and improving the lighting so that you can decrease the risk of falls. You may also want to look at doing their maintenance, such as gardening, cleaning, or home repairs, as these may become more difficult as they get older. If they can no longer live at home by themselves, you may also want to take a look at housing options, such as downsizing to a smaller, more manageable property. They could also move in with family or move to an assisted living community.
Managing Their Healthcare
As your parents age, their health becomes increasingly important. You can support them by making sure that they go for regular checkups and encouraging them to check on anything that they are worried about. You may also need to make sure that they are managing the medication properly. This could involve setting them up with a pill organizer or setting a medication reminder. Make sure that they are getting the proper nutrients by having a balanced diet and that they are getting some level of exercise each day. Going for a short walk is often enough.
Transportation And Mobility
As your parents get older, they may not be able to drive or get around as easily. You need to make sure you assess their driving ability if they are still driving to ensure that they are safe on the road. If their driving ability is compromised, it may be time to start talking about alternative transportation opportunities. Public transportation is a great way for your parents to get around if they can no longer drive. You may also want to take a look at mobility aids such as walking sticks or walkers. It helps them remain mobile and independent.
Staying Up-To-Date With Technology
This is a difficult one because some older adults find it very difficult to keep up with the changes in technology. By the time they’ve learned how to use one piece of technology, a new piece of technology arrives on the scene. It is important to make sure you help them stay connected and safe. You can do this by incorporating technology into their lives. It’s a good idea to make sure that they have a communication device, such as a smartphone or tablet, so they’re able to stay in touch with family and friends. Show them how they can use these to make video calls or use social media. You can also show them how to use these to shop online and do things like order groceries for their home. It can help improve their independence and lower their dependence on other people to fetch their food for them.
As you can see, there are lots of different ways that you can support your elderly parents. There are various responsibilities that involve you providing financial, emotional, and practical support. You need to make sure that you have an open line of communication with them so that you can fully understand their needs. You can also help them plan for their future and make sure that they are fulfilling retirement comfortably. As you get through the complexities of looking after your elderly parents,, remember that you are not alone. There are many resources and services that are there to help you look after them the best way you can.