One day you're blowing out 17 candles on your birthday cake, and before you know it, it's 71.
Time moves fast. And sometimes things seem to happen overnight. But don't let retirement catch you by surprise. Start planning now.
The most important task on your list? Health care planning. Looking after your health in old age is what will give you a happy, long and active retirement.
Here is how to secure the retirement future you desire and always have the health support you need.
While we all want optimal health as we age, that doesn't always happen. Preparing for any eventuality, including new medical needs or long-term care costs, is wise.
Budgeting now will ease the worries and financial strains of facing a health crisis when you're retired and no longer receiving a salary. It means you won't find yourself leaning on the family to cover the burden of medical expenses.
It also means you won't have to compromise on the healthcare you receive because of budgetary limits. In other words, health planning is the best way to give yourself long-term financial stability.
While we don't always have complete control over what happens with our health, nor do any of us possess a crystal ball, there are some ways you can help protect yourself from future medical conditions.
Preventative medicine is one of the biggest tools at our disposal to help us live an active retirement free of chronic conditions or medical interventions. There are four critical components to preventative medicine:
You need all four to help you stay in the best health.
Sometimes, that will mean investing money now in preventative healthcare services to help protect you from future issues. It also means acting early if a doctor does discover a condition during a general medical check.
For example, if you are diagnosed as prediabetic, there are lots of steps you can take to avoid developing type 2 diabetes, like improving your diet and removing processed food or using a medication like Ozempiec.
Stay informed on health matters. New evidence and medicine are constantly emerging, which could give you many strategies and tools to avoid chronic or serious conditions.
Being proactive is about more than preventative medicine. It's also about ensuring you have the best financial arrangements.
First, check your existing health insurance. Make sure that, as you age, the coverage is still suitable for your evolving health needs. If it's not, change it.
You need to plan for any eventuality, including the possibility that you may have long-term care needs in the future.
Care needs encompass a vast range of services and support to help those with disabilities or chronic conditions, which may make everyday life more challenging to manage. You may need assisted living or nursing support.
First, you should understand these support types and then look at the potential costs involved.
That's going to help with your healthcare planning, including the financial side of things. It allows you to think about decisions and preferences and speak to family and friends about what you want, lest you find yourself in a position where you don't have the capacity to make those judgments.
Always examine your long-term insurance plan and ask yourself whether it has the coverage you need. Consider the "what-ifs" and how you will get the health support you need if your situation changes.
Making wise investments before you retire can give you better choices about your living arrangements and healthcare in old age.
Examine your current financial setup to see if you are making the most of your investment options for future healthcare needs. Cover aspects such as:
You want a financial setup that gives you regular income in retirement so that you have the money to cover all your healthcare premiums. That way, you won't be in a position of having to compromise about your care or medical needs and won't need to lean on family and friends because of money problems.
Look at supplementary plans that can give you extra healthcare coverage in your senior years. Ensure you have enough coverage to bridge potential gaps, especially if your health needs change, as can often be the case when we age.
Nevertheless, it's not all about coverage but quality of care. So make sure your plans offer the providers you need so that you have the highest standards of healthcare to see you through any diagnosis you face.
To aid with healthcare planning, you can have conversations with your doctor and other healthcare providers.
They can help guide you through some of the practical steps you can take to secure high-quality care. Their advice about what you might need will enable you to navigate issues like which healthcare plan is right for you.
Ensure your healthcare provider keeps you informed on the latest treatment options for any long-term health condition you face.
Be ready to ask questions about new health services or solutions you read about in the news. This type of proactive approach is the best way to secure high-quality, personalized care, and ensure you always have access to cutting-edge health solutions.
None of us truly knows what the future will bring, but we can control how bright our future will be. Proper health care planning can ensure you have the best support and financial stability to protect you from worry.
It also puts you in a strong position to find your dream retirement community. We have that right here at LakeHouse Three Rivers. Our wealth of exciting activities, high-quality interiors, and fantastic support staff are hard to beat. Discover more about our community here.