Retired? Now What?
Retirement is a process, not a happening. It stands to reason therefore that there are various possibilities that can enhance/harm your situation prior to you taking a final bow.
Generically speaking we can be certain that not all these possibilities will take place in our lives, but the reality is that our Retirement plan should ideally have assessed and addressed these issues to allow for the eventuality of our being confronted by one of them. One must ask the question: What necessities and risks should be addressed?
- A Last Will & Testament. Ultimately, we are all going to die and making sure your affairs are in order regarding this issue is a very important priority, especially for your family. Under this heading there are the following issues you should satisfy yourself on:
(a) Make sure your will is regularly reviewed, in order and is being safely kept without you having to pay any fees.
(b) Keep your ICOD information handy. ICOD stands for In Case Of Death and has all the relevant information available for family, friends and the authorities. Without ICOD you will probably forget something.
(b) Burial policy and arrangements.
(c) Make a Living Will if you wish to have one. This ensures you are not kept alive by being connected to machines
- Medical precautions and provisions. Medical costs are rising at astronomical rates on an annual basis and whilst many people cannot afford to have a Medical Aid fund in addition to their other living expenses, there are certain alternative safeguards that you might be able to make use of to cover at least a portion of the risk. Later on you may be in need of Frail Care, Supported Living Services or emergency medical response. Think of:
(a) Accident and medical insurance
(b) Gap cover if you have a Medical Aid
(c) Medical Equity Release
(d) Spectacles – Special discount offers
- Car and Household insurance. Vehicle repairs are increasing at a double-figure percentage annually and driving is a risk with so many unlicensed drivers on the road. Theft of vehicles is absolutely commonplace, as is breaking and entering even if you live in a complex. Because of the risks and costs, insurers often add excesses to policies so that losses aren’t so big. We have a choice of three insurance companies which can provide you with peace of mind
(a) Motor and Household insurance Is your house value up to date? Don’t let a George happening (like the fires) spoil your life. Do yourself a favour and compare what we offer with what you have – You might save money.
- Holidays and Relaxation. Although many don’t acknowledge the fact, our senior citizens also need relaxation and holidays. Normally the problem is just that these are so expensive. Not so with your own association.
(a) Social Clubs Countrywide.
(b)The Holiday Club. Away with friends on a week’s holiday at a top resort sounds like too much money? Not so ...
- Information and reference for senior folk. We have a handy website that has a number of articles of importance you can reference and a great deal more detail about what we have on offer. Paul Rosenbrock