Keep Your Financial Independence As You Age

PennyGem’s Elizabeth Keatinge tells us what the experts say about keeping your independence as you age.

Transcript

00:00You may savor your independence and dread the idea of ending up in a retirement home.

00:09What are some things you can do to keep your independence as you age?

00:13As CNN suggests, you'll want to be financially independent, with income from your investments

00:18enough to cover your expenses, prioritize your health, as Next Avenue says, and prevent

00:24falls.

00:25The Centers for Disease Control and Prevention reports one quarter of Americans 65 and over

00:30fall every year.

00:31See an expert for primary care.

00:33A geriatrician is, quote, trained to manage the complexity of multiple complicated health

00:38concerns, unquote, says Dr. Nirmala Gopalan, medical director of the Geriatrics Clinic

00:44at Santa Clara Valley Medical Center.

00:46She also suggests strength and balance exercises, like Tai Chi.

00:50The brain is a muscle, too.

00:52Keep it healthy with brain games and a healthy diet of fruit and vegetables.

00:56If you do end up headed to an assisted living facility, consider options before choosing

01:01a location.

01:02According to The Street, there are non-profit, religious-based facilities versus for-profit.

01:08There are also options to prepay for all-inclusive care, modified contracts, fee-for-service,

01:13or rental, which is a pay-as-you-go price model.