rich & REGULAR with Kiersten and Julien Saunders

Ep 173: What We Learned from Our Search for Affordable Housing for Aging Parents

Jul 29, 2024

Julien shares his personal story about the emotional and financial challenges of finding affordable housing for his aging mother. He discusses the bureaucratic hurdles and the heavy toll these decisions take on families. The conversation delves into the high costs of senior living, especially for those on fixed incomes, and the necessity of early preparation for conversations about the future. They emphasize the importance of community support and understanding systemic barriers that complicate the search for suitable housing.

57:57

Episode guests

Julien

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Episode notes

Podcast summary created with Snipd AI

Quick takeaways

The emotional complexity of searching for affordable housing for aging parents underscores the need for candid discussions about finances and independence.

The financial pressures facing seniors on fixed incomes highlight the alarming rise in housing costs and challenges in securing affordable options.

Navigating the convoluted affordable housing system demands early preparation, effective communication, and proactive advocacy for aging family members.

Deep dives

The Journey to Affordable Housing

The discussion emphasizes the personal journey of seeking affordable housing for a family member, highlighting the emotional complexity involved in such situations. The speakers share their experiences since 2017, detailing how the journey began when family dynamics shifted, particularly as the speaker's mother faced financial instability after retirement. Various life events led to her decision to sell her home, a move seen as necessary despite the emotional weight of leaving a familiar place. The narrative indicates that these transitions, while ultimately beneficial, are fraught with stress and the need for careful planning.

Intro

2min

Navigating Affordable Housing Challenges for Aging Parents

2min

Navigating Financial Pressures and the Decision to Sell a Family Home

4min

Bittersweet Transitions

3min

Navigating Affordable Housing for Aging Parents

17min

Navigating the Complexities of Affordable Housing for Aging Parents

1min

Navigating Affordable Housing for Aging Parents

28min

This week we’re talking about the emotionally charged world of affordable housing, as we share the story of our journey to find suitable housing for Julien’s mother. This episode is a must-listen for anyone grappling with the complexities of aging parents and their life after retirement, financial instability, and the often-overlooked reality of the affordable housing system.

In telling our story, we explore:

The emotional toll of the search: We highlight the emotional labor and stress of finding affordable housing for aging parents, particularly when the parent is used to owning their own home. We also talk about the difficult conversations around finances and independence, while dealing with the bureaucratic hurdles and emotional challenges that arise.
The financial burden of housing: We shed light on the exorbitant costs of senior living and the lack of affordable housing options for those who need it most. Specifically, the challenges faced by those who rely on fixed incomes like social security, and the financial pressures that come with aging.
The systemic barriers within the affordable housing system, like limited availability, long waitlists, and inflexible eligibility requirements.
The need for early preparation: We can’t stress the importance of early preparation for aging parents enough, including the need to create online access for financial transactions and to prepare for the emotional conversations around their future.
The importance of community and support: Let this be your reminder that you are not alone in this challenging process and that leaning on community resources and support networks can be the difference maker.

Links:

AARP Future of Housing Report
Download our free Financial Technology Toolkit
GeorgiaHousingSearch.org - a directory of affordable housing options in Georgia
Bounce Back: The Ultimate Guide to Financial Resilience book by Lynnette Khalfani-Cox

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