THERE’S NO PLACE LIKE HOME

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BY SUZANNE HAZLETT, MBA, CIMA®, CFP®

Suzanne Hazlett, MBA, CIMA®, CFP®, founder of HAZLETT WEALTH MANAGEMENT, is a Certified Investment Management Analyst® and CERTIFIED FINANCIAL PLANNERTM professional.

The U.S. Census Bureau estimates that by 2030, 20% of Americans will be 65 or older as the U.S. population ages. Aging in place is the decision to remain in the home and community of your choice as you age. If planned for properly, aging in place can be an empowering option that allows you to maintain independence. Crafting a plan for the potential progression of care needs can help you and your family be proactive as circumstances change instead of emotionally reacting to an emergency or changes in ability.

For a more in-depth understanding of your potential aging-in-place needs, consider the following questions:

  • Is your current home where you’d like to live throughout your retirement?
  • Will you require long-term at-home care?
  • Is limited mobility a growing concern for you?
  • Could you lead a happier, healthier life by having assistance to fulfill essential needs versus fulfilling them independently?
  • Do parts of your home need to be enhanced or modified to allow you to continue living there comfortably? If so, have you started budgeting for these changes?
  • Would relocating to a new home nearby make things easier for you in the long run?
  • Does your budget support around-the-clock care if it becomes necessary?
  • Who will help manage your household and finances and help address your daily needs if you cannot?
  • How will you take care of home repair and home maintenance needs?
  • Are you ready to account for aging in place in your financial plan?

Exploring these potential needs and talking about them with your loved ones will help you prepare financially, emotionally, and physically. Build the costs into your financial plan and prioritize your peace of mind.

Suzanne Hazlett, MBA, CIMA®, CFP®, is a Certified Investment Management Analyst® and CERTIFIED FINANCIAL PLANNERTM professional. Investment advisory services are offered through Raymond James Financial Services Advisors, Inc. Securities are offered through Raymond James Financial Services, Inc., member FINRA/SIPC. All investments bear risk of principal loss. Past results are no guarantee of future performance. HAZLETT WEALTH MANAGEMENT, LLC is independent of Raymond James and is not a registered broker/dealer. 675 Sun Valley Road, Suite J1 + J2, Ketchum, Idaho, 83340 208.726.0605 HazlettWealthManagement.com