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Can you identify your biggest blind spot? Sure, you’re smart. You’ve worked hard, planned ahead, marshalled your resources over the years. Heck, you even read Humble Dollar to check all the boxes.
But I can guarantee you there’s one aspect of life you haven’t considered. Have you considered what happens as you get older and need help with your day to day life? You see, we suffer from a lack of imagination. With all the workouts, healthy eating, mental stimulation, we as older adults statistically feel and consider ourselves to be 10 years younger than we are – which is great for our attitude and outlook.
But what I have seen, after 18 years of working with older adults, is that many of us don’t believe we will ever get to a point when we may need a walker or a wheelchair to get around; that there might come a day when we need help in the shower, making meals, or organizing meds.
I see otherwise smart, successful planners, who have spent their lives saving for a home, for college educations, a second home, vacations; stick their heads in the sand when it comes to their own possible frailty. They “fear their future self”, and don’t want to consider a time when they might need assistance.
This is a grievous trend, because with today’s massive transition of the boomers into retirement age, we have 10,000 people every day in the US turning 65 – and that will continue for the next 15 years. Our country has never seen a demographic shift like this in our lifetimes. There is an unprecedented demand for health care support, at a time when many professionals are exiting the field.
Those who have the mental temerity to consider that they will need assistance at some point – and likely for an extended amount of time – have the luxury of planning ahead. They can consider a Continuing Care Retirement Community (CCRC)– a uniqu, primarily not-for-profit concept that’s more than 100 years old, with 1900 entities across the country – that offers a robust and engaging life as an independent adult, with guaranteed care at different levels ( at a reduced cost) as you age.
Adults who choose CCRCs often say it’s “a gift to my children” – because they have planned ahead for their health care needs, and do not have to make a decision in the midst of a crisis. Their children can continue to be their children, not caregivers.
Don’t sell yourself and your future short. Take the time to consider where you are living, what you want most in life, and what will be of paramount importance once you need regular assistance in day to day living.
After all, look how well you have planned to date. So don’t let the fear of your future self block you from making a smart plan for the future.
Cathleen Toomey
Host, Seniority Authority podcast
*For a detailed guidebook on how to understand and evaluate CCRCs, email info@seniorityauthority.org
Oh boy. I was just gonna say that my planning for less independence and mobility, as explained today to one of my kids, was to have a carpenter make those pull out drawers for the lower cabinets beneath my kitchen counters so I wouldn’t have to sit on the floor while taking all the gadgets in the front out to reach the rarely used items hidden in the back. Drawers are so much better than immovable deep shelves. I love to cook so I have a lot of gadgets. And I live in a one story house. Very small.
I found this a worthwhile post. So what if it has been written about before? The same can be said of several topics on HD, and that’s not a bad thing. Many things are worth saying/hearing again in different ways. It’s good to be reminded of things we have heard before, and even things we know deep down to be true. I believe Jonathan himself has mentioned how when he was at WSJ he was criticized for often writing about the same things. I suspect he did so because he found them important, as is this topic. I appreciate the post and the perspective.
As a proponent of, and resident in, a CCRC I am always happy to see reinforcements. I objected to the suggestion that HD readers had given no thought to the provision of care in their older years. The most cursory look at the articles and posts on this site would have told the author otherwise. It read like a standard advertising pitch, and I feel she would have done better to tailor her message to her audience.
I agree, which was the reason for my critical comments. However, Cathleen Toomey’s post motivated me to explore her website which I found to be quite good. Her TED talk is excellent and it is clear that she is strongly committed to helping seniors improve their lives. I think she now realizes that her second paragraph showed a lack of familiarity with the mindsets of HD readers.