Men and women have different worries when they get older. However, aging gracefully might be the least of anyone’s concern. Women in particular simply have more to worry about because on average, women tend to have longer lifespans than their male counterparts. This means more time taking care of yourself, possibly alone, or taking care of adult children. Therefore, what should women plan out in order to live a comfortable retirement?
Living longer and better with lower healthcare costs
The devil is in the details when it comes to saving money on healthcare. You should always take time to learn your insurance plans. Figure out what is and isn’t covered, especially regarding prescription medicines. Also, stay in your care network and know your care options before you seek any kind of treatment. But most importantly, take advantage of senior discounts and insurance benefits such as Cared and Covered which can help you save hundreds on medical services.
Helping your children deep into adulthood
Your kids are doing their best, but sometimes they need a helping hand. With this economy and troubled job market, it is becoming more and more common for seniors, especially women, to continue taking care of their adult children or small grandchildren into retirement. This may lead to a financial burden on your part. Therefore, cutting down your own debt before retirement and setting savings goals can ensure you and your family live comfortably.
Caring for your own parents
Women living longer also means that their mothers tend to live longer as well. Being a caregiver for an aging parent when you are also a senior can be difficult. You might end up neglecting your own health for the sake of your parent. Planning a budget for assisted care needs and ultimately final expenses can help reduce the stress of caring for an elderly person.