How Long Will You Drive?
November 8th, 2009Independence and autonomy are understandably very important for seniors, and as a result, driving is often a touchy issue which you may have already encountered with your parents. As much as we would love to be able to drive forever, is it really a realistic assumption for retirement planning purposes? Research shows that the rate of fatal automobile accidents for drivers aged 80 and over is five times greater than the rate for drivers under 80.
Why does it matter how long we’ll be able to drive? A retirement property outside of town which is just a five minute drive from the store or the doctors could change into an isolated, difficult existence if you’re no longer able to drive.
In reality, you may get lucky and find you can drive well into your eighties and beyond. We nevertheless encourage our clients to be conservative when making their retirement lifestyle plans for big ticket items like housing. This means you should assume that you will not drive beyond the age of 85 and should plan accordingly.
William Jack
Tags: driving, life style, Mobility
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