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Will you be ready to age in place? How to plan your finances and care to live independently at home

Some seniors want to live at home so they can stay connected with friends and neighbours in their community.

ST20230408_202350775594: Gin Tay / pixgenerics /
Generic photo of an elderly man exercise in a HDB fitness zone at Toh Yi at Upper Bukit Timah area on Apr 8, 2023.
Can be used for stories on old age, elderly, money, CPF, budget, healthcare, health, population, ageing and home.

Seniors want to stay connected with family and friends in the community but may face challenges over finances, and help with care if needed.

ST PHOTO: GIN TAY

Chor Khieng Yuit

Financial planning is crucial for ageing in place, utilising CPF, MediSave, and various insurance like CareShield Life, with strategies for drawing down wealth.
Addressing manpower shortages via senior workforce and community support, such as "Seniors Caring for Seniors" programme
A truly purposeful retirement extends beyond financial security; it demands planning for physical, mental, and social well-being

AI generated

SINGAPORE – As Singapore

becomes a super-aged society,

with more than one in five people set to be aged 65 and above by 2026, the desire and ability to live independently in the comfort of one’s own home will become a pressing issue.

Seniors want to stay connected with family and friends in the community, but may face challenges over finances and getting help with care if needed.

See more on

Ageing

Senior citizens

Financial planning