This article article was published in the "New Rochelle Review" in the March 2007 issue.

Life and Money - " Living Longer - Part 1"

By Frank Sisco, CPA, PFS

(Word count = 570 words plus 32 words for About the Author)

The trend of living longer is profoundly affecting our lives.   In this regard, how can we develop ways to enhance our own life and the lives of others?   Five topics to be covered in this article and in the future are (a) enhanced opportunities (b) reallocations of time (c) reconciliation and reaching out (d) change of heart (e) nursing homes and independent living and (f) health and creativity.

A. Enhanced opportunities - As we experience people living much longer lives, we should move past the thoughts of the many problems old age brings such as sickness, money running out, and the possible burdens on others.    Instead, shouldn't we think about the blessings and opportunity of additional time older people and their loved ones have to share their lives each other?   True gifts.   Does vacation length offer us some perspective?   When you're about to go on a three-week vacation out of the country, it is so much more important that you are careful about the planning, what you bring, and your relationships with others than if you are taking a two-day vacation within driving distance.   There is so much more opportunity, and more at stake, with the longer vacation.   So too with the longer life.

B.   Reallocations of time - Several clients of mine, friends and relatives of advanced age have died recently.   As I reflect on each one, I see that I could have done more, could have spent more time with them, had I better allocated my time. Is that your case too?   But where will this time come from?    One place is clearing up the clutter in our lives and making way for matters more important.   In my own life, I'll be setting aside more of my time, not just the next few weeks, but permanently.   Two ways are working smarter and giving up some of my hobbies for the time being.   As time grows shorter and tighter, that responsibility increases.   Are you doing what you could?  

C.    Reconciliation and reaching out   - Lives lived long can accumulate many fractured moments and relationships and the longer the problems remain the worse they get. For over two years, I've attended a monthly bereavement seminar with my mother that helped us heal somewhat regarding the loss of my brother.   When the participants expressed their feelings over the passing of their loved ones, often they said they regretted not resolving issues. Shouldn't some of the precious remaining time be devoted to patching things up?

Planning should often involve reaching out and having detailed discussions with relatives.   On a recent plane trip to West Palm Beach Florida, a 70 year old man who sat next to me explained the many steps he has taken to prepare for the time he may need live-in caregivers, including how he retrofitted his home, and rented out space to his brother-in-law, a potential caregiver.   An article in the West Palm Beach Post on February 25th revealed surprising data that for the first time since the Depression, more seniors were moving out of Florida than into it.   The article said that the likely reason is that the seniors who moved down to Florida twenty to thirty years ago in their fifties and sixties were now seventy to ninety years of age, often widowed, and want to be nearer their families in the Northeast and elsewhere.   Are you having similar relocation discussions within your own family?    Should you?

About the author:

Frank Sisco is a CPA and Personal Financial Specialist and writes on topics related to life and money.   He resides in New Rochelle, NY with his wife and daughter.