This is perhaps one of the most difficult questions, in an emotional sense, many parents have to face as they approach their own retirement.
Up until the middle of the 20th century, it was a relatively commonplace for parents at or after retirement age, to eventually move in with their by then typically married children.
That was the practice for centuries and it was considered by most to be normal – yet times change.
In today’s world, however close you and your children may be, there are a number of factors which means the above perhaps idyllic situation may not be one that is realistically achievable:
- your children’s work may mean that their lifestyles are highly mobile and you may not wish to find yourself moving with them every few years as their work dictates;
- it may be the case that your children and their own families are financially or logistically unable to offer you accommodation and related support;
- although we all hope it may be otherwise, should your child’s own relationship not be entirely stable and satisfactory, it may prove to be impossible for you to live directly with them;
- however close you and your kids may have been when they were young, people change as they age. It may simply be the case that both you they would find the idea of living in close proximity to be one that is not a serious option.
No parent wishes to find themselves in the position of being a hindrance to or an encumbrance upon, their children. As such, it is inevitably the responsibility of the parents to ensure that they have provided income and accommodation for themselves that are suitable for their older age.
If your children are willing and able to help, that’s fine. However, assuming that will be the case and having that presumption as your sole provision going forward, might not be a responsible strategy.
Of course, as we age what we need out of our accommodation changes. Most of us are in the position of looking for accommodation that requires less maintenance and which has been designed with more senior occupants in mind.
We at Sterling New Life can assist you to find accommodation of a type that will enable you to spend your time enjoying your retirement years by doing the things you wish to do, rather than looking after property that is no longer fit for your purposes.
Caring for our children
Almost all parents realise, sometimes to their surprise, that the drive to care for and protect our children doesn’t diminish as we age. That applies even once our children have grown up and started to live their own life with their own family. In fact, we even frequently take on the added load of thinking of our grandchildren’s interests and trying to protect them too!
One of the final” duty of care” requirements of us as responsible parents is to ensure that our children are in a position to lead their own lives rather than necessarily facing the burden of having to look after our accommodation issues at the same time.
That is why finding out more about our specific property propositions might be highly advisable as a way of helping to discharge your responsibilities in this area.
Why not contact us now for more information?