Moving to a retirement village is not only a lifestyle decision, it’s also a major financial one. If things don’t work out, extremely high exit fees might leave you without enough money to seek alternative or more suitable accommodation.
Coping with change is difficult, no matter how old you are. The particular challenge for adults over 50 is the sheer number of changes and transitions that start to occur—including children moving away, the loss of parents, friends, and other loved ones, changes to or the end of your career, declining health, and even loss of independence.
Few things in life are ever constant. The ebb and flow of events and experiences will constantly change, as will our desires and objectives. What we value and pursue in our youth is very different to what has priority in our later years. Our financial planning therefore must constantly adapt and adjust to key life changes.
