The biggest misunderstanding most people seem to labour with is the assumption that: I am fine now, so why should I look at changing? This is based on a current time crosscut analysis of their situation and they are comfortable that no changes of major import will take place in their life ahead. The facts are that extremely few people are ever able to live in this stage of fruition and significant changes are on the cards for most people. In this article we deal with the realities of a retirement within a real timeline.
What you will find in this article is mostly based on the broad brushstrokes we have picked up in feedback from our members and our own experiences, the laws governing Retirement Developments and a sneaky look at some problems that sometimes may be found in not so trustworthy developers sales documentation . We are trying to present you with a map that can possibly help you to look for the potholes you may find in the runway you choose to land on, and all is not necessarily applicable if you choose the “I will stay where I am until the end” route.
WHAT IS THE FULL SPECTRUM OF SERVICES THAT CAN BE OFFERED BY A SUCCESSFUL RETIREMENT VILLAGE ?
Although few people would need to make use of all the service levels that can be offered, it is nevertheless quite enlightening to see what types and levels of services are experienced as a need by some residents, and this also reinforces the viewpoint that staying at home is not always the best choice.
Medwell SA, https://medwell.co.za/retirement-estates-2/#currentestates lists the following:
“A Successful Retirement Estate requires all levels of care which are:
- Primary Health Care (Preventative Care)
- Access to a 24 hour Emergency support
- Support Services within the comfort of the residents home when needed
- Support with daily lifestyle activities in the residence or in assisted living units
- Up to 24 hour home based care within the comfort of your home
- 24 hour care within a Care Facility when home base care is no longer viable.
- Provision for specialised services to accommodate individuals diagnosed with a form of dementia”
All the above services addressing potential issues are in virtually all cases tied to age, and for this reason it stands to reason that preparation for and the age at which you retire plays a very important role in planning the rest of your life
WHEN SHOULD YOU DECIDE TO RETIRE
People somehow seem to believe their employers pensionable retirement age is the law, and thereafter you must sit down and relax. Not true I am afraid, and if your dream about retirement is based in this, please rethink.
The fact is that pension income is intended to provide for the rest of your lifetime and therefore the longer you are gainfully employed means that you can make things easier for yourself and your spouse to maintain a higher standard of living for longerafter retirement.
When is therefore not a mandatory date, but a very individual time to make a very individual decision because retirement does not come in a one size fits all package
WHAT ARE THE MAIN ACCOMMODATION OPTIONS?
Although there are a number of options we will not review in this article:
- Living on my yacht and sailing the world (hard to imagine in the later phases of life),
- Retiring to my smallholding in the Karoo (very difficult to imagine medical provisions and services of an appropriate standard in proximity),
- Sailing on an ocean liner as a permanent guest over the world again and again and apparently grander than a 5 star hotel (Hard to make old friends)
- Then of course the staying in my own home option mentioned above. There are many pro’s and cons tied in to this option but most of them are tied to age related abilities or disabilities that may or may not include physical, medical or psychological issues.