With Social Security in trouble and the fate of our nation’s health insurance still up in the air, it’s more important than ever to plan for old age.  You can’t count on anyone — your kids or your government — taking care of you when you’re too old to do so yourself, it seems, so it is up to you to make sure you’ll be properly cared for.

It is important to keep in mind that as you age, your medical expenses are certain to go up.  First of all, you have regular checkups and medications.  Then there are the worsening conditions you are sure to experience — osteoporosis, stroke, heart attack, type 2 diabetes, etc.

There are also related expenses you will need to plan for, such as how you will get around when you aren’t as agile.  For instance, stair lifts can be installed on your staircases and wheelchair lifts on your van — but these things cost a lot of money, and if you haven’t planned for the expense, how will you afford it?

This represents one of the biggest challenges facing our aging adults today.  Getting old is expensive, and while previous generations were big on saving, most people today spend more than they make.  If you are one of these, think not about what you want today, but how it might affect your quality of life tomorrow if you buy it.  It’s never too early to think about saving for your old age!

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