The commonly-held vision of retirement – leaving the workforce at 65 and moving somewhere sunny and warm – is no longer practical for most older Canadians. Due to a variety of factors, such as a weaker economy, the recent recession, and longer life expectancies, Canadians are retiring later in life more than ever before. Many Canadians now expect to work until they are at least 70. In fact, the Canadian Association of Retired Persons (CARP) now refers to itself by its acronym only, as they believe retirement is not a viable option for most of their members.
With people retiring at later ages, they are also not selling up and moving away the way they used to. This is not only because they may not able to afford a move, but also because by the time they reach this late age of retirement, more of them wish to remain in the home and community they are familiar with rather than try to put down roots in a new city. Most Canadians would prefer to live out their golden years in their homes, and make adjustments to their living arrangements as the need arises.
Recent surveys bear out these trends, as most Canadian seniors report living at home either alone or with a partner (Stats Can). As lives get longer, however, the number of elderly in need of some kind of assistance also increases, whether that is in the form of private in-home health care, retirement home or a nursing facility. Some see the better option as staying put and either remodeling their current home to make it safe for their later years, or downsizing to a stress-free condominium or one level bungalow. There is also the option of hiring in-home care so that one can remain in their current home as it is.
If you plan to remain in your home after retirement, it is a good idea to do some research well in advance. Find out what the community resources for the elderly are in your area. You may also want to think about making changes to your home now to make it safe later – increased lighting throughout the house and grab bars in the bathroom are two good places to start. With some planning and a few home updates, many elderly retirees can plan to live independently in the homes they know and love for many more years.
This article is provided by:
First Class Home Care Inc.
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