In this podcast, Steve Gresham, the Managing Principal of NextChapter and the Senior Education Advisor with the Alliance of Lifetime Income, is joined by his mother, Phyllis Gresham, for a special episode on aging in place. The two discuss the importance of planning ahead for the vulnerable later years of one’s life; highlighting necessary arrangements for home maintenance and health maintenance to secure a stable future.

They also discussed:

• Impact of unexpected events, such as natural disasters like hurricanes, on the feasibility of aging in place.
• The consideration of other living options, such as a continuous care retirement facility, and the significance of making such decisions early.
• Exploration of the concept of retirement stages, including the “gogo” phase characterized by active pursuits and the challenges that come with shifting physical and mental abilities.
• Importance of having a support system and family discussions when planning for aging and considering the transitions.
• Advisor’s role in initiating conversations about safety, preparedness, and realistic expectations for retirement.
• Highlighting the need for individuals to address potential risks in their homes, such as falls, and the implementation of safety measures.
• Encouragement for advisors to ask probing questions about clients’ plans and preparations for aging in place, facilitating a gradual and easier transition.

Resources: 

NextChapter

Alliance for Lifetime Income

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