Aging is a part of life. While it is inevitable, you can still give your parents a positive outlook on their twilight years by helping them prepare for it. Preparing for future life alongside your aging parents shows them how much you care while setting a good example for your children.

Everyone gets older as the years go by. Even as you age, you would still want your life to be active and meaningful thanks to support from family and friends. According to the Philippine Statistics Authority (PSA), the number of Filipinos aged 60 years and above has doubled to 9.22 million in 2020..


It is now essential to have serious discussions about how to care for aging parents so they can still live their best lives. Here are 4 steps to help prepare for future life with your aging parents:

1. Address personal obligations to older parents

Responsibilities to aging parents is an important issue to consider not only for your parents but also for you as you go through the adulting process. Based on current research, Filipino values that focus on caring for the elderly are declining. You can take the step to change this narrative by setting a good example of how to care for aging parents.

Besides setting standards that support older people benefiting your future, studies show that caring for your aging parents forms positive effects on their mental well-being and yours


2. Initiate the conversation and understand their priorities

Have an honest discussion with parents about how they want to live now they are older. Take note of their goals and boundaries while respecting their priorities. A study showed that the elderly preferred clear, humorous, and unhurried communication when it came to their needs. Make an effort to regularly talk to them about their plans and concerns. 


3. Discuss shared responsibilities with siblings and loved ones

Talk to your siblings about meeting up with your parents. Arrange celebrations and vacations with your aging parents, giving them opportunities to spend time with their grandchildren.  


4. Assess your parents’ needs and plan accordingly  

Current research observes elderly care to be lacking mainly due to financial insecurity and mismanagement. Better to be ready for potential health complications your aging parents may encounter. Choosing the right health insurance plan tailored to senior citizens' needs is vital in guaranteeing them a healthy and active lifestyle.


Embrace the responsibility of securing your aging parents' future by involving them in discussions about their desires and needs. You can lay the groundwork for a future where both you and your loved ones can thrive while embracing one's golden years with grace and dignity. 

Contact one of our financial advisors today to help build a brighter future and protect the legacy for your aging parents.


ALSO READ: Retirement Planning Mistakes You Must Avoid