AGING IN PlACE The Final Strategy –Strategy #5 Your Resources

Before we start to discuss the last strategy of Sue Lantz’s framework, we were so pleased to host Sue as our guest speaker at our RTAM Annual General Meeting held in Brandon on May 2, 2023. She presented so many alternative strategies to accommodate your mapping process for your best retirement journey! She displayed slides of a wide variety of housing options which are being offered in different locations across Canada. Sue left most of the audience reflecting upon different actions they could take immediately and over time to start their mapping process. It is a lifelong planning process for older adults accompanied by changes as the years and decades move on.

In the past KIT magazines, I explained some of the different aspects of the first four strategies in Sue’s framework –your health, your housing, your social connections and your caregiving teams. This article will outline the effect or influence of the past four strategies on the availability of many resources to support you in making your life your most enjoyable and productive. Making informed and timely choices for housing, health, social networks and caregiving can combine to make a big difference to the financial resources you will need. You can save or generate resources by the choices you make along the way.

Having a collaborative relationship with a financial planner over your lifetime will greatly support you with the finances you have available in your years as an older adult. A financial advisor will help you understand different options for saving which fits your life style and needs. Take advantage of their expertise to structure a plan, which can be reviewed on a regular basis, to incorporate varied sources of funding such as any registered retirement savings plans, tax credits, your insurance coverage, pensions, and other sources of income.

In terms of health, you are leveraging your resources by staying as healthy as possible by practicing healthy habits. Eating healthy, getting regular exercise, moderating your alcohol consumption, getting adequate sleep, fostering your social connections, and utilizing stress reduction strategies you have learned throughout your lifetime which work for you are all ways to maintain a healthy purposeful life. By proactively managing your health, you reduce many known risks and can delay possible health and functional decline. This, in turn, can reduce your need for home care and the accompanying costs.

You can reduce your health risks and costs by making the right

By Joan Zaretsky

housing choices. Sue talked a lot about the importance of assessing where you are currently living and recognizing the opportunities associated with the extra space and the nearby amenities. Living with, or near others, offers you the social supports you need while also the option to share the costs of the housing. If you have a spacious home, you may rent out a room or hire a live-in caregiver which would be a more cost effective solution than moving into a care home in the future. Ensure your home is well located with meaningful social supports, health services, transit and other amenities within walking distance or a short drive. When you proactively choose to adapt and outfit your home with special accommodations for your future, you are ready to go!

People in your social network are your most important asset as they offer you a sense of support and belonging and can help you find and access resources you may need in the future to save you time and money. In choosing your place to live, you can decide to locate near to your social network or find a social community that fits your needs. By continuing to work, volunteer and stay active in your community, you can build and expand your circle of friends.

Aside from maintaining your home living costs, your main additional cost will be your care at home, whether personal hands-on care or supervision and support. Your types and levels of care you need may increase over time as your health changes. Consider the many caregivers you may need in the future and of utmost importance, is to select a care coordinator for your team. By establishing and organizing your caregiving team, you are readying them to carry out their roles.

Investing time and energy now to explore your options and make practical plans, opens up your future to new possibilities and options later. Identify the topics you are curious about and seek additional information. Talk with your friends and family about your visions and your ideas for housing or creating a caregiving team. Talk with your neighbors about creating a neighborhood network and explore activities you could carry out together. Be open to exploring where those discussions take you as you map your retirement journey!

STAY TUNED: Sue Lantz will be offering a Wellness Zoom event on October 4, 2023 at 10:00 am. Check out the Wellness Workshop pages in KIT and online. Sign up for a wide variety of health, cooking and socializing events every Wednesday in the upcoming five months starting in August. See you there!.