What is the ideal plan for old age?

[coffeemonsterrrr]

A hypothetical question here, but, let's say you're middle aged (40's, married with kids, working). Assuming money is no object - wealthy / comfortable but not at Musk-like levels or anything (again this is hypothetical)...
What plans would you put in place for your old age?

I've witnessed a few family members have depressing / sad last few years in care homes and thinking about if there's a way it can be done better. Without any burden on children though.

@LornaDuh we live in Bath so he actually was very keen , but actually we don't have many bungalows that were suitable or if suitable were massively over budget and he refused to consider a flat as he likes a garage, an office! And a small garden

Yours sounds fab too- !!

@Crikeyalmighty There genuinely are plenty of cases where some people would actually have a better quality of life either in over 55 social housing, independent retirement villages, supported living , with family or yes even in residential or nursing care homes in some cases.

I think you may have watch too much TV and get caught in the ads for these kind of services.

Noone I know who still works is living in any form of over 55 social housing or any of the other arrangements.
I went to a yoga class with mostly ladies over 60s and they honestly were bendier than I was, drove, did DIY, gardening, went out for boozy lunches and into London for the theatre.

I better tell DH that we can't plan the SE Asia holiday in 3 years or the sightseeing trip to Italy, he will be too busy moving.

@greengreyblue exactly - I appreciate there are many elderly people who sadly through health or money aren't in this position- but plenty are - old age doesn't always have to mean a crap quality of life , it's a very mixed bag -

@reluctantbrit I don't think you have read my other posts - I totally 100% agree with you . It actually in response to a poster saying that for some people it wasn't always better quality of life when 'very old' being in the old family house .

Not rtft so don't know if this has been mentioned wrt moving to a bungalow in your 50s!!!!

Stairs are good for you!

Don't move to a bungalow - you will get bungalow legs.

In your 50s 😂😂😂 Keir Starmer is 62. Maybe someone should tell him he needs to vacate Downing Street and start looking for somewhere more 'suitable.'

Well, if money is no object, have a passive income stream, like rental properties you pay other people to manage; have insurance relevant to your age and lifestyle (personally, I'd go for Income Protection, Criticall Illness Insurance, Private Health Insurance and Dental Insurance and Life Assurance); pay into a pension (as a tax efficienct way of managing finances); have savings for private care when necessary. Oh, and if you have the chance to obtain more than one citizenship (through heritage or marriage), do it and be prepared to move countries if the situation demands it.

Enough money certainly helps!

And a house and garden that aren’t too big or unmanageable, and that’s close to shops and other facilities. Dh and I had no idea when we bought our house decades ago that it’d be perfect in later life, but it is.

As far as possible, stay active. As long as you can manage them, stairs are good!

Make sure your Health and Welfare Power of Attorney states very clearly (you can add a paragraph) in which circumstances you do not want any life-saving or life-prolonging treatment. In my case, that would be dementia, or any other condition which meant I could no longer a) care for myself, and b) speak, with full mental capacity, for myself.

God forbid I end up like my DM, dying at 97 after 15 years of dementia, doubly incontinent, not knowing any of her family, etc.
Though admittedly in her case there was no ‘striving to keep alive’ - she simply had the general constitution of a rhinoceros.

Yes, it's just a house in NZ. A bungalow here is an actual style of older house, not quite as fancy as a villa.

That's like in Au - the California bungalow, now quite sought after,

https://www.vincent.wa.gov.au/Profiles/vincent/Assets/ClientData/Documents/Develop_Build/Heritage_Places/CS132_Inter-War_06a.pdf

Do NOT move into a bungalow. The daily exercise you get from going up and down stairs several times a day will actually keep your legs healthy and extend your life. "Bungalow legs" is a recognised health condition. Google it. If you want to avoid spending your last days in a care home you should be focusing on exercise, diet, being socially active and learning new things and having new experiences. And try to remain on good terms with your children and grandchildren, even if it means accepting that their way of raising their children is different from yours!

I plan to live independently until I am eighty, then die from a massive heart attack after a night of alcohol and sexual excess.

Maintain your muscle mass.

I am retired in my late 60's We have made a lot of alterations to our house to future proof it. We now have a room downstairs that could be used as a bedroom and there is a toilet off the room (a shower could be added if needed, We also did things like replacement roof and windows. We are already close to shops - literally next door.

We did this after going through a stressful 10 yrs with MIL being unable to manage her house, refusing to move and eventually moving to a care home - my DH was thr only surviving child and the burden fell mostly to him and we don't want to do that to our DC

We also joined a gym last year to weight train to try and keep up our muscle mass

We are going to downsize to a place with a downstairs bathroom and room suitable to be used as a bedroom one day if necessary in our late 60s/early 70s, somewhere level walking distance of shops, etc.

Our in laws downsized in their 70s but to a bungalow in the middle of nowhere and now they can no longer drive they are stuck there with no transport. So a good lesson in what not to do.

Hoping that by moving to a suitable property we will be able to stay living at home for as long as possible, with carers & cleaners coming in to help if necessary.

I've always thought Emma had the best plan but substitute dog for masses of cats!

Eighty is a bit young these days, I’d add another 10-15 year, but the concept is good.