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How do people without kids prepare for old age?

Topics relating to managing people and relationships

BellaPippin

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Cynical me wants to know.

Even if you became the CEO of Fastlaneland INC. How do you prepare for old age if you have no family/children? No matter the bank account size or the passive income, what happens if you get dementia? Who do you trust your well-being/finances management on? A lawyer? A guardian? Would they truly act in your best interest? How would you make sure that you are going to be fine after you can’t take care of yourself anymore?
 
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WJK

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Cynical me wants to know.

Even if you became the CEO of Fastlaneland INC. How do you prepare for old age if you have no family/children? No matter the bank account size or the passive income, what happens if you get dementia? Who do you trust your well-being/finances management on? A lawyer? A guardian? Would they truly act in your best interest? How would you make sure that you are going to be fine after you can’t take care of yourself anymore?
How do you know that your kids will have your best interest at heart? They too are human -- subject to all those failings... including greed. Sorry to rain on your parade. Yes, the future is unknown. But, if you have dementia, you won't care anyway. You'll live in your own little world immune from day-to-day concerns. Just make sure that within your life plan, your physical needs are cared for. No one wants to end up sleeping on a park bench in the rain.
 

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I was just thinking of this the other day as Im almost 50 and no kids and no relationship with my nephews. I guess in ten years or so Ill have to find a solution for this, guess will be some sort of trust that will make sure my gagillions goes to my final days and whoever or whatever charity I give it away too.
 

WJK

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I was just thinking of this the other day as Im almost 50 and no kids and no relationship with my nephews. I guess in ten years or so Ill have to find a solution for this, guess will be some sort of trust that will make sure my gagillions goes to my final days and whoever or whatever charity I give it away too.
We are using a revocable trust for our estate planning. It's really the only vehicle available -- that we have found. It's been a head-scratching experience. There are no right or wrong answers -- only decisions to be made. Between us (me & my husband), we have 4 children. We are a blended family, including "throw-away kids" who are not related to us by blood. I raised them when their mother abandoned them.

Life is messy. It just happens day-by-day. All we can do is just do our best to be fair and take care of the people who we love.
 
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BellaPippin

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Just make sure that within your life plan, your physical needs are cared for. No one wants to end up sleeping on a park bench in the rain.

Well yes, this was the point of the thread!
 

BellaPippin

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I was just thinking of this the other day as Im almost 50 and no kids and no relationship with my nephews. I guess in ten years or so Ill have to find a solution for this, guess will be some sort of trust that will make sure my gagillions goes to my final days and whoever or whatever charity I give it away too.

Well yeah that's the easy part, assuming you die peacefully in your sleep like Sean Connery -RIP- but, what once you're old-old or can't do easy stuff, who can manage your money to make sure your needs are met and you are somewhere comfy and treated well?

We always joke with my Argentinian friends that we all want to be in the same elderly house playing video games together while they spoon feed us lol
 

BellaPippin

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WJK

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Well yes, this was the point of the thread!
Many of us share your concerns, whether we have children or not. Old age is not for whimps and the world is not kind. Your life, when you are elderly, will be based on what you do today. I helped care for a friend's mother until her death. She sheltered me when I kid from my abusive father. She paid forward. I took care of my mom during her last 10 years of life -- after my parents divorced. Those were very happy years. There are connections you can make now that will create lifetime friends and a quasi-family unit.
 

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