What’s Your Age-in-Place Plan? 3 Simple Steps to Start Planning Today

Most people dream of staying in their own homes as they grow older, surrounded by the comfort of familiar spaces and memories. But without planning, unexpected changes—like health issues or extra costs—can make this goal harder to reach.

An age-in-place plan is a way to prepare for living in your own home as you get older. It’s about making sure your home, health, and finances are ready for any changes that may come.

Taking the time to plan ahead can help you think through possible challenges, like home repairs or care needs, so you’re not caught off guard later.

Planning ahead can make it easier to handle changes as you age. If you wait until something happens, your choices may be limited, or you could face higher costs. Thinking about your needs now gives you more time to look at your options and make decisions that work for you.

Here are three simple steps to begin your age-in-place plan:

Step 1: Look at Your Needs.

Start by thinking about your current health and any changes you might experience in the future. Consider how easy it is to move around your home and whether your space will stay practical and safe as you age. Walk through each room and ask yourself questions like, “Do I have stairs that might become a problem later?” or “Would installing safety features like grab bars or non-slip flooring make my home more secure?” You might also consider whether your bathroom or kitchen layout could accommodate mobility aids if needed. Taking the time to identify potential challenges now can help you avoid surprises later.

Step 2: Find Ways to Cover Costs.

Planning ahead for the costs of aging in place is essential. Look into how you might pay for home upgrades, ongoing care, or other needs. Start by reviewing your savings, checking if you have insurance policies that might help, or exploring government programs and community resources. Long-term care insurance, reverse mortgages, or dedicated savings accounts could also be options to consider. Having a clear understanding of what’s available—and how it could fit your situation—gives you more control and flexibility in the future.

Step 3: Talk to a Financial Professional.

A financial professional can be a valuable partner in this process. They can guide you through the steps of building an age-in-place plan and help you put all the pieces together. Whether it’s evaluating your budget, identifying potential funding sources, or offering insight into the tax benefits of certain options, they can help you make well-informed decisions. Consulting with someone who understands the financial and planning aspects of aging in place can help align your plan with your priorities and resources.

Planning to age in place doesn’t have to be difficult. By thinking about your needs, looking into costs, and getting advice, you can take steps toward staying in your home longer.

To make it easier, we’ve created a free Age-in-Place Toolkit with tips, checklists, and resources.