Future-proofing your retirement: planning for your evolving needs

Retirement is a time of freedom and relaxation, made even better with some thoughtful planning. When thinking about retirement, financial considerations often take centre stage, but there are other things to make this chapter truly stress-free. These include care, legal safeguards, your home setup and overall wellbeing. Preparing now can help you maintain independence and ensure you’re well-supported as your needs evolve.

Optimising your home for ageing

A well-designed home can support independence for longer. Firstly, you need to consider if you’d prefer to stay in your home or downsize? One option is to downsize to a retirement village. Staying at home has the benefit of comfort and familiarity. While moving to a retirement village can offer a range of housing options that are specifically built for our senior years. Plus, there are a range of services and amenities to make retirement more enjoyable and fulfilling.

Whether you stay at home or downsize, here are some things that you should consider:

• Accessibility: ramps, handrails and wider doorways can assist if there are ever mobility challenges.
• Bathroom safety: walk-in showers, grab bars and slip-resistant flooring can reduce the incidence of falls.
• Single-level living: stairs may become difficult if reduced mobility arises.
• Smart home technology: devices like voice-activated assistants, medical alerts and automated lighting can enhance safety and convenience.

RetireAustralia retirement villages offer housing options that have been built with age-friendly design, meaning you don’t need to think about it. As you age and your needs change, your home will be able to accommodate this.

Planning for future care needs

While you may be active and living independently now, it’s important to think ahead. By considering what the future may look like and putting some things into place now, you can continue to live independently for a long time to come.

Things to consider include:

• At home support: services such as in-home care, meal deliveries and community support, can make life easier and allow you to keep your independence. Services can be made available through a government-funded Home Care Package or through fee-for-service. Consider registering now for My Aged Care so when you require extra help, the first step has already been taken.

  If you live in a RetireAustralia village, you can access care services through our Home Care team or trusted partner. Some villages also offer serviced apartments, where meals, cleaning and linen laundry are taken care for you. Leaving you to focus on what you enjoy most.

• Residential aged care facilities: while the goal is always to live at home for as long as possible, you may need residential care. It is always helpful to explore your options and understand the costs and waiting lists well in advance. Having knowledge is always beneficial, even if you don’t need to use it.

  At RetireAustralia, premium alternatives to aged care are currently offered at Glengara Care on the NSW Central Coast and the Care Hub at The Verge on the Gold Coast.

• Health insurance: if you have private health insurance, make sure you’re aware of what’s covered and whether you need additional policies. You may be able to remove items that are no longer necessary, such as reproductive health, etc.

Legal safeguards: enduring power of attorney and guardianship

Preparing legal documents early ensures your wishes are respected if you become unable to make decisions. This removes the stress off family members and loved ones. This can often be quickly and easily done in one visit to your solicitor. While there are differences in each state and territory, key documents include:

• Enduring Power of Attorney (EPOA): appoint someone to manage your finances and legal matters if you’re incapacitated.
• Guardianship: Assign a trusted person to make personal and medical decisions on your behalf if needed.
• Advance Care Directive: outline your preferences for medical treatment and end-of-life care.
• Updated will and estate planning: whenever you begin a new stage of life or have a change in circumstance, you should ensure your will is up to date and reflects your wishes. This way your assets are distributed as you intend and you minimise complications for your family.

Wellbeing: staying physically and mentally active

Long-term health isn’t just about medical care, it’s also about staying engaged and active.

• Physical health: regular exercise, a balanced diet and preventive healthcare check-ups are crucial.
• Mental stimulation: lifelong learning, puzzles, reading or even a new hobby can help maintain cognitive function.
• Social connections: maintain friendships, join clubs or volunteer to stay connected and combat loneliness.
• Purpose and enjoyment: retirement is about more than just planning for potential challenges; ensure you still pursue what makes you happy.

Future-proofing your retirement isn’t about expecting the worst. It’s about preparing so you can enjoy life with confidence and maintain your independence. A little bit of preparation now can set yourself up for smoother, more enjoyable senior years. The best time to plan for the future is today.