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Difficult
and often agonizing, it’s the crossroad every senior
dreads, the time when it’s necessary to consider
abandoning the comfort of the familiar for a more practical,
age-appropriate living scenario. This transition is often
referred to as “downsizing,” but we prefer
to call it “rightsizing.” For most, it is
a difficult process encompassing emotional and logistical
issues, but also involving a fundamental revision of your
financial arrangements.
Making
the Move
Moving from one environment to another can result in relocation
stress syndrome, defined as a state of physiological and/or
psychological malaise. “Each time an older person
finds it is no longer reasonable to live in his or her
home or community, it is a crisis on an individual and
family level,” says John Rother, AARP’s Director
of Policy and Strategy.
Seniors
who prepared for the move using a specialized transfer
team, and maintaining the same staff before and after
the move, experienced little or no subsequent increase
in mortality. According to Dr. Sherri Melrose in her article
“Reducing relocation stress syndrome in long term
care facilities,” which appeared in the Journal
of Practical Nursing in 2004, a successful transition
hinges on a number of key factors, including developing
a sense of personal control over the environment, having
adequate time to prepare, minimizing differences between
the old and new environment, and being able to rely on
a specialized transfer team.
The Process – Making it easier
First
things first – when is it time to pack up the house?
The variables that go into making this decision differ
for every family, but bear in mind that the moving process
doesn’t get easier with age. Sooner is generally
better than later and – as the saying goes –
there’s no time like the present.
In
undertaking this challenging life change, careful planning
and organization can make all the difference:
- The
first step is to take stock of your current situation
by defining where you are, where you might be going
and what, if anything, is holding you back. Create a
plan of action. Schedule it on your calendar. Give yourself
a realistic time frame and initiate the process.
-
Arrange to have all the basic moving supplies you’ll
need:
• Boxes with useful labels such as Donate, Recycle
and Family. Place
them in strategic places for easy access
• Trash cans and garbage bags
• Markers, Post-its and other labels, rubber bands
and lots of tape (and a tape gun)
-
Break the project down into small pieces. Identify the
priority – where do you want to start, what room
should you tackle first? Then decide what item
you will begin tackling (bookshelf, desk, closet) within
the room. Schedule one hour a day (or more if you are
so inclined) to work on a specific item. Have your transfer
team help you begin the difficult process of sorting
and “editing” (I like this word better than
purging) as well as collecting like items together.
Keep the treasures; let go of the “maybes.”
Sure, it’s tough but the bottom line is not to
burden yourself and your family with stuff that you
want but don’t need. It’s easy to find a
charitable organization that would be happy to accept
your donations. In the end, everybody wins. Complete
the process within the designated room before moving
on to another area. Try not to zig-zag from one room
to another.
-
Maintain your focus and discipline until the job is
done … then celebrate!
The
support team
Next?
Assemble the team that can see you through the process
safely, efficiently and – not least – with
understanding and sensitivity.
When
you are looking for ways to manage a lifetime’s
possessions, it’s important to consider where and
from whom you might find the right kind of support. As
you consider the next stage of your life, it’s important
to begin building your resource bank of contacts. These
may include, not only friends and family, but also relocation
specialists, various trades people, estate agents, etc.
The
transition is a journey … look for help along the
way and make the most of your resources.
Making
the financial plan
It
goes without saying that another important component of
the “rightsizing” process is the financial
one. Conversations about wealth take place on two interconnected
levels: the practical and the emotional. The practical
side revolves around basic considerations about how the
money will be transferred. Equally important from an emotional
standpoint are the “whys” of your decisions.
The
first financial decision is to create a budget that reflects
your new household realities. In most cases, "rightsizing"
may free up additional funds for everyday living since,
in your new setting, you’re unlikely to be burdened
by any significant mortgage and home upkeep considerations.
Utility costs, for instance, are apt to be reduced or
included in the monthly maintenance. These are just a
few of the reduced home expenses that may provide you
with additional free cash flow. A budget worksheet is
available on .
As
with any financial plan, the key is to "pay yourself
first." A portion of the additional discretionary
income generated by your new and more economical lifestyle
should be put towards savings. We recommend that at least
3 to 6 months worth of expenses be kept in a checking
or savings account to avoid possibly incurring debt in
the event of an emergency.
Once
you are settled, the time may be right to visit with a
financial professional to review your investments so that
you are properly positioned for the future. It may also
be time to visit with an attorney to insure that you have
all the proper documentation – including a will,
durable power of attorney and a health proxy and/or living
will – to address any contingency.
Many
seniors fear change, but change can bring opportunity
and a fresh outlook. It may seem overwhelming at first,
but proactively adapting – or “rightsizing”
– your lifestyle to better accommodate evolving
circumstances will pay valuable dividends down the line
by more efficiently focusing your financial resources
and promoting peace of mind. So consult with family, friends
and trusted professionals and then start planning for
a new and better future … today.
Sally
Allen, Professional Organizer
A Place for Everything, LLC www.aplaceforeverythingllc.com
"Organizing for Stress Free Living" at 303-526-5357
Ron
Roge – wealth management
R.W. Roge & Company, Inc.
(631) 218-0077 (Telephone)
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