Content provided courtesy of USAA.
Dwight Helmuth spent years renovating his historical Kansas home, but he sees a move in his future.
He recently purchased a one-story townhome in Pennsylvania to be closer to family and medical care while maintaining his independence. “It dawned on me that in the next few years, I’ll need to be someplace friendlier for my age,” he says.
People are living longer but often become less mobile as they age. The most important step you can take to live the life you’ve worked hard for: Create a long-term plan to meet that challenge. To get started, ask yourself these questions:
Can your home age with you? Consider how appropriate it will be if your mobility declines. If you don’t have resources to pay for a stair lift or elevator, for example, a move into a single-level home might make sense. If modifications are needed, seek a dependable contractor.
Will you need to relocate? Nearby family may be able to offer moderate care as you age. Also, consider moving to an area where the cost of living is lower and good medical care is available. USAA’s real estate team can help ease the stress of a move.
Do you have a reliable income source? Pensions are in decline and Social Security is unlikely to carry most of us through our golden years. You may want to consider opening an annuity, which can help guarantee a reliable income stream.