How to Help Your Parents Have a Worry-Free Retirement
The older you get, the more you begin to appreciate your parents' sacrifices and hard work. As an adult, you start to see all the different ways that your parents have looked after the family, most of them unacknowledged. With a better appreciation of all they've done to look after you in their youth, it's doubly important now to help them relax and enjoy their retirement years. If you've been thinking about giving back to your parents, then take a look at the list below to find out how you can help your parents' retirement be happy and worry-free.
Start Taking Care of Expenses
Whether you're a young adult starting their first job, or a parent starting your own family, one way to help your own parents start off their retirement on the right foot is by helping out with extra expenses. These can include footing the gas or grocery bill once in a while, or if they live with you, taking the burden of utilities and rent off their shoulders. Doing this will not only show that you're able to stand on your own two feet without them, but will help ease the burden on their pension and savings as well.
Checking Up On Their Pension Fund
Speaking of savings, one other way to help your parents prepare for their retirement is by checking up on their pension fund. According to news site Rappler, most Filipinos aren't adequately prepared for their retirement. Make sure your parents are on top of their finances by checking up on whether their SSS contributions, real estate taxes, and other payments are all up to date. Even the smallest bit helps, and once they stop working they'll be able to breathe a sigh of relief.
Keep An Eye Out for Their Health
Old age brings aches and pains, but they aren't just limited to the body. With rising medical expenses, your parents might be more anxious about paying the bills on their hospital visits and doctor check-ups. Help them avoid the stress of digging into their savings ahead of time by picking out a health insurance plan that meets their needs at affordable prices. An example of this is Paramount Direct's PrimeCare Cash Plan, which is a health insurance plan for seniors with affordable premiums that will ease the burden on your parents. This way, they can enjoy their retirement years without having to struggle with medical bills.
Ease the Change
Retirement brings with it more than just financial or health considerations. Making the leap from working a 9 to 5 every day to not having to go to work can be a big adjustment for many people. Studies show that retirement can be a depression risk, so it's important to be there for your parents as they make this transition. Help fill their days with hobbies, conversation, and activities so that the change isn't as jarring, and you can be sure that they'll remember this gesture for years to come.
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