There are many reasons why someone would move their senior parent in. It could be attributed to finances, medical needs, or even wanting to have mom or dad close by. Whatever the circumstances, there are some things to consider before taking the plunge.
4 Things to Consider Before Moving Your Senior Parent In
1. Can you give them the level of care they need?
Depending on your situation, you may be considering moving your senior parent in because they need extra assistance and care that they can’t get by living alone. Ask yourself: Do I have the time and resources to be able to give my parent the level of care they require? Would they be better served with another option like assisted living, a nursing home, or in-home care? Taking care of a senior parent is a true responsibility. Make sure you are prepared to handle it. Check out how to evaluate senior living communities before investing, too.
2. Does your financial situation allow it?
Your financial situation is a huge factor in whether living with a senior parent is realistic. Sit down and take a look at your budget. What are the costs associated with your parent moving in? Can they support themselves financially, or will they be relying on your help? If your parent requires significant care, ask yourself these questions. Will taking in your parent require you to change your work schedule? Can you afford to stay at home or go part-time? Is your work schedule flexible? The answers to these questions can impact your finances. Always make sure that you’re able to make ends meet and that taking in mom or dad doesn’t result in accumulating too much debt or other financial strains.
3. Is your partner on board?
If you’re married or in a committed relationship, is your partner okay with this decision? Moving your senior parent into your home is a big deal, and it will impact their life, too. Consult with them before making any decisions and have a frank, honest discussion. Is this a temporary or permanent fix? Will they be expected to contribute care or funds? Also, discuss issues or concerns and come up with a course of action in advance. Ground rules and boundaries are a good place to start.
4. Is your parent open to the possibility?
It may seem obvious, but you have to see if your parent is in open to moving in, too. For some senior citizens, admitting they need help is a difficult task. For some, the thought of moving in with their child is an issue of pride. If possible, broach the subject with your parent ahead of time, before they reach the point where they need extra help. They may be more open to the idea when it’s hypothetical and then can think on it before it’s a reality. Talk with your parent about their options and ask their wishes. Depending on their retirement savings, you could have additional options. It’s important to communicate and come to a decision together.