As baby boomers enter their later years, many start to consider the requirements of a fulfilling retirement. While we all hope to enjoy our retirement, the results of a recent survey conducted by Merrill Lynch and Age Wave show that many older adults are unsure whether they are prepared for the challenges that may arise.
Survey respondents, all 50 years old or older, overwhelmingly agreed (81 percent of respondents) that the primary ingredient for a happy retirement is health. Health can determine whether the later years are defined by financial security and independence, or stress and uncertainty. However, the results of the survey also uncovered that the majority of older Americans have not included health care costs in their retirement planning.
"Health challenges can be a double threat to retirement financial security," says David Tyrie, head of Retirement and Personal Wealth Solutions for Bank of America Merrill Lynch, in a written statement accompanying the survey results. "Between unpredictable and costly health care expenses and unexpected early retirement due to health problems, planning ahead can be confusing and overwhelming. People are increasingly seeking guidance to help them make informed decisions, for themselves and their families."
The stress of affording retirement can be compounded after health deteriorates. Often, children or other family members need to sacrifice working hours to make regular check-ups on older adults who have chosen to pursue aging in place. In theses situations, the family can lose two income streams, increasing stress and making many care recipients feel guilty about their effect on the family's finances.
However, families can take advantage of a cost-effective caregiving support solution that fosters older adult independence. Independa's remote caregiving solution uses a nonstigmatizing device that older adults are most comfortable with — the television — to support the decision to age in place and combat social isolation.
Independa's cloud-based software solution offers value for everyone in involved in care. Care recipients enjoy social integration and relevant appointment and medicine reminders through a friendly, simple user interface called Angela™. Designed specifically with the needs of older adults in mind, Angela™ features an intuitive user interface that requires no previous technological experience to operate. Care recipients can enjoy effortless access to video chat, health information, games, community events and more.
Caregivers can feel confident in their charge's wellbeing through Independa's Caregiver Dashboard, which can be linked to Angela™ to create Smart Reminders for events, medications and check ins. The Caregiver Dashboard also allows caregivers to view relevant health measures and chronicle their loved one's important memories using Life Stories.
Angela's™ solutions can also be integrated with wireless health devices and home sensors that inform caretakers instantly if something isn't right. If your loved one is concerned about their health becoming a burden on their retirement, Independa's solutions can help restore peace of mind and support the decision to age in place. To avoid worrying about health concerns affecting your loved one's retirement, contact us today to schedule a demo and discover how Independa's solutions can add value for every member involved in the circle of care.
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