Caring for the aged in the society and especially one’s parents is the duty of any responsible child or individual. No matter the financial status of adult children, they cannot shut their eyes to the needs of their aged parents.
The need of these aged parents include financial support, emotional support and provision of aged friendly facilities in the home that will ease their burden in the process of ageing.
It is appropriate to discuss with your parents, planning ahead on how to take care of them during their years of retirement beforehand to minimise the stress that goes with catering for them at that stage.
It is advisable to discuss with them to know whether they will prefer to live with you at retirement or if they would love to maintain their independence in their own houses with assistance of care givers and house helps. Facilities that are friendly to the aged should also be made available to them.
Discuss how they intend to manage their finances after retirement with them, do they have some money to spend after retirement? Are they entitled to pension? Do they have investment such as real estate and how do they intend to manage the monies coming from these investments? Will they want their estate to be managed by their children or an agent?
Asking to know whether your aged parents have a will is a way of easing them the stress of setting their house in order to avoid family crisis. The bequest accorded each child, relative, charity organisations should be clearly spelt out to avoid rivalry.
Keeping your aged parents company and giving them valuable advice will be very useful and appreciated at this point in their lives.