For the most up-to-date news and information about the coronavirus pandemic, visit www.sacoronavirus.co.za

Changes coming to retirement villages

Changes coming to retirement villages

Bonnie Fourie from www.property360.co.za wrote on the 26th October 2020: CHANGES COMING TO RETIREMENT VILLAGES

“Modern villages are following the worldwide trend towards professionally managed home-based care to allow retirees to live in their own homes.

Covid-19 will prompt modifications to the way estates function, with more home-based care and a different approach to frail care, say experts.

The Covid-19 outbreak in South Africa and the lockdown that followed had a detrimental effect on the country’s retirees, changing their ways of life and the operational processes of the retirement villages they live in.

Considering the risks associated with contracting the virus – and other future viruses – for the elderly, these shifts will no doubt have to become the new normal in retirement accommodation and be factored into new village designs.

During the height of the pandemic, the number of people attending care centres across the province dwindled markedly as retirees moved into home-based care or temporary assisted living.

This is a movement that will become “more of the norm”. People are more comfortable with being treated in their own spaces where that is possible.

Access to open spaces was also appreciated during the pandemic with many retirement village residents welcoming such offerings during a time when they could not leave the estate except to purchase basic necessities.

This means common areas and green spaces within estates would become key features of differentiation. Freestanding units with their own gardens will also be a key point for new purchasers. People who found themselves in apartments with limited ability to move around clearly felt the effects of the pandemic more seriously.

The pandemic and lockdown is a difficult time for all retirement villages, with many advising that a significant number of residents suffered from anxiety and depression. Regular interaction and communication with residents were crucial and those who were suffering the most stress through not being able to have family visits, had to be closely monitored.

All communal facilities were closed, but fortunately, where units have relatively large gardens and many of them surrounded by open green areas, residents could maintain social contact.

The model of home-based nursing care is a winner in this type of situation, rather than the traditional frail-care model.

In fact, the provision of health-care facilities is the biggest change being seen – and needs to be made – in the design of retirement villages.

The traditional frail-care model has become prohibitively expensive and requires increasing financial support, either from the resident population or from an outside benefactor, to remain financially viable. Modern villages are following the worldwide trend towards professionally managed home-based care.

This model will include a clinic staffed by professional nursing staff and a small “emergency” frail-care facility, but the main care is performed by registered caregivers in the comfort of one’s own home, supervised by the professional nursing staff.

Rob Jones, retirement-living consultant to The Somerset Lifestyle and Retirement Village in the Western Cape, agrees: “Retirement villages will retain many of the same elements that they have had until today, however, those services will need to be offered in a very different way than before.

Gone are the days of regimented, institutional frail-care units, run in a hospital-like fashion.” Another change being seen is the disappearance of the “onerous compulsory levies” that require residents to take all main meals in the communal dining room.

A number of new services are also arising. “The reason for these changes relates to the modern crop of retirees – many of whom are still very active and who often do not self-identify as ‘old’, even though the corporate world no longer thinks it needs them.”

To cater for these evolutions and ensure that elderly residents still receive the care they need, the “big trend” both here and overseas is to offer various wellness features within senior living facilities.

These include fitness programmes; healthy eating plans and options; planned social activities; lifelong-learning courses; volunteer opportunities and wellness education workshops.

In addition, from a design perspective, senior living communities are now attractive, modern and appealing places to live, underpinned by the requisite operational and hospitality services.

Availability of care and support is critical as people live longer, and aspects such as dementia care need to be addressed… People also want choice as to how their care and support is delivered and senior living operators must cater for this.”

To continue reading this article, click here.

The development of retirement villages is a specialist field and Shire consultants complete the standard professional team of developers who are planning or executing new retirement developments. To view the portfolio of retirement developments that Shire Properties (Pty) Ltd are involved with, click here.

What to do with your time when you retire

What to do with your time when you retire

Some choose retirement, and some have retirement thrust upon them. When it comes to figuring what to do with the decades of free time facing modern retirees, why not take an inventory of what you find most important, whether it be leisure, socializing, contributing to a community or cause, or pursuing hobbies. Work also may be the most important thing, either for the income or for the sense of identity. Research shows that more than half of people over 60 say they will work after retirement.

Here are some ideas for retirees deciding what to do with their days.

Work as a Consultant

People with skills and knowledge to sell to individuals or companies can become consultants, a job with plenty of flexibility for free time. Consulting requires the ability to market and sell those skills, and it can take a while to build up a clientele.

‘Boomerang’ to Part-Time Work

Some companies are finding that, by hiring back retirees part-time or as needed, they get the expertise of long-time workers, while the former full-timers get to keep up professional skills and develop new ones. It’s best to plan this — sometimes called “boomeranging” — before retirement, but it’s never too late to look.

Start a Mastermind Group

For some, retirement from a day-to-day job just opens up time to try another business. Senior entrepreneurs don’t need to go it alone. Look through your address book, find other smart retirees, and form a mastermind group that meets regularly to share connections, advice, and experience. It’s like having an instant board of directors, while joining a bunch of other boards.

Work at a Non-profit

Many retirees seek to turn work experience into a second career at a non-profit. Organisations tap into people’s desire to find meaningful work that gives back to the community. They partner with groups all over the country, serving as a placement network for “second acts.”

https://en.wikipedia.org/wiki/Category:Non-profit_organisations_based_in_South_Africa

Work in a School

Public and private schools have opportunities even for people without teaching degrees. Teacher’s assistants, tutors, and crossing guards are all needed at schools and don’t require experience as an educator.

Become a Tour Guide

People with outgoing personalities can become tour guides. It’s not necessarily easy. Becoming a licensed guide means passing a background check as well as a rigorous test of arcane knowledge specific to the relevant industry. Although no one will become rich as a guide, some people can have a pretty good time and make money passing on their excitement about where they live.

Work at a Hobby

Work isn’t work if you love to do it, which some retirees discover by turning a lifelong passion into a paying proposition (easier when it’s not the sole source of income). A retiree loved restoring antiques in his garage as a hobby, and now he has a partner who helps him turn old barn doors into shelving and coffee tables for sale. A love of gardening could lead to a job in a plant nursery; a love for animals could translate into a reception job at a vet’s office.

Travel in a caravan

Freewheeling seniors can take advantage of a loose schedule by touring the country in a caravan. Whether to buy or rent depends on whether this is going to become a lifestyle or just a one-time caravanning holiday. Having a built-in kitchen and bed can save on meals and hotels during long-term travels.

Visit National Parks

South African National Parks (Sanparks) offer discounts on normal tariffs to people 60 years and older provided the reservation is made in the name of the qualifying person. Social pensioners are those receiving old age, family and disability allowances as well as blind persons.

https://www.sanparks.org/

Take Advantage of SAARP Benefits

One of the greatest advantages of retirement is the ability to go traveling at the drop of a hat (or the sighting of a great deal), with no work or school schedules to get in the way. SAARP offers discounts to make your holidays much more affordable.

https://saarp.net/

Go to Camp

Another way to get away from it all is to go to camp — a camp meant for seniors. Some concentrate on basic camp experiences, such as archery, boating, and campfires, while others focus on particular activities such as wine tasting, bird watching, or the arts. Some are adults-only, and some offer shared experiences with grandchildren. Adult camps aren’t necessarily in the summer, and some last for only a weekend, including some pricey fantasy camps that indulge the inner child and let grownups be cowboys or train for spaceflight.

Become a Road Scholar

Educational travel adventure tours that let grandparents bring grandchildren along, is also popular amongst the over 50’s. The tours encourage learning and interacting with people wherever members go, not just sightseeing. Some trips to remote locations involve hiking, canoeing, or a lot of walking and climbing, which are indicated so people with limited mobility can assess whether a trip will be appropriate.

https://www.tourradar.com/pa/seniors-d-south-africa

Take Advantage of Rail Discounts

Luxury takes on a new dimension with The Blue Train or Rovos rail. You’ll feel it the moment you step into the pre-departure lounges in Pretoria or Cape Town. A warm-hearted South African welcome – taking guests through some of the most breath-taking countryside to be found anywhere in the world.

https://www.luxurytrains.co.za/

Teach ESL Abroad

One way to experience another country without having to shell out for so many travel expenses: Get certified to teach English as a second language. Demand for ESL teachers is high.

https://www.lifefromabag.com/guide-to-teaching-english-abroad/

Teach ESL at Home

There are also plenty of people in this country who need to learn English as a second language. Tutors work with them one-to-one on reading, writing, speaking, and sometimes on just getting by in a new setting. Tutoring requires very little training, although teaching a class requires TEFL certification. Finding volunteer positions is easy, starting with classes, conversation groups, or tutoring at municipal libraries.

Find Volunteering Opportunities at Home

For retirees, a volunteer position can mean supporting a favourite cause, helping people in need, or giving back to the broader community while building new skills, widening social circles, staying engaged, and broadening your point of view. Find a position through volunteer databases such

https://www.projects-abroad.org/volunteer-south-africa/

Build with Habitat for Humanity

Habitat for Humanity has one- or two-week stints in locations all over the world to build housing, upgrade existing homes, help with disaster recovery, or bring stability to children in need.

https://habitat.org.za/

Join the Peace Corps

The Peace Corps is an excellent way to get immersed in another culture while doing good — and it’s not just for young people. The organisation is making a play to recruit more mature volunteers, who bring lifetimes of expertise and experience. The Peace Corps often requires a two-year commitment and proficiency in another language.

https://www.peacecorps.gov/south-africa/

Get Back to Playing Music

Retirement can bring to the fore things you may have puttered around with for years but never had time to really concentrate on. Tony Smith used to play guitar in a band when he was young but let the skill slip as he made a living as a middle school music teacher. Now that he has retired, he’s back on the bar circuit, playing gigs all over Cape Town, including every open mic night he can get to.

Take Up Writing

Even people side-lined by disability or illness can write. If the act of putting pen to paper or fingers to keys is difficult, phones, tablets, and computers have software to turn speech into text. Writing the memoirs of a remarkable (or even ordinary) life can be cathartic for the writer and eye-opening to those who read it. People who have never written before might find it difficult to start such a project, but there’s plenty of help out there from sites such as SA Writer’s College.

https://www.sawriterscollege.co.za/

Rediscover Art

Revive a love of art by taking up drawing or painting. This doesn’t require a lot of supplies to start — for drawing, just a pad and a set of pencils or some charcoal will do. To begin, there are free lessons online on www.art.co.za and other websites, but taking a class opens up a new social circle. Almost every community college has some sort of art classes, and often a senior tuition waiver is available to lower the cost of those classes.

www.art.co.za

Give Photography a Shot

Even a basic point-and-shoot camera is fine for newbie photographers. Photo and camera clubs can pick up from there, offering companionship, mentoring, and a venue for exhibiting work. Talk to people at local camera stores to find out where the nearest clubs can be found, or try

https://www.thephotographyinstitute.co.za/

Turn Textiles into Art

Knitting, sewing, weaving, embroidery, and quilting used to be done in social circles or bees — and they are again. Knitting and fabric stores are often the sites of comradely needle artists, and libraries in some communities also offer classes and a place to share patterns, experiences, and skills. My Dream Course is but one of many websites to visit for classes and online courses

http://www.mydreamcourse.co.za/

Get Fired Up About Ceramics

Wheel throwing takes a bit of strength and physical dexterity, but hand building can be practiced for a lifetime. Ceramics is not the kind of thing that can be accomplished at home, as it requires a kiln to fire pieces, so the art form lends itself to socializing. Classes can be found at most community colleges or art schools.

Make a Movie

Some people turn the simple home movie into a real production. If that sounds familiar, perhaps moviemaking would be a natural fit. Start by auditing a class at a community college or municipal cable access station with basic equipment, where you can discover which part of film you prefer — writing and directing, for instance, or the more technical aspects.

Sound Out Podcasting

The online, downloadable equivalents of radio shows are fairly simple to produce for people who are computer adept and capable of writing and recording a script on a consistent basis — weekly, for instance. The folks at Digital Trends explain how to make any type of podcast, whether it be personal thoughts, a scripted show such as a serial, or a way to highlight music.

Garden for the Planet

Every person with a garden looks forward to having more time to devote to the earth once they retire. Retirees can turn their plots into habitats for pollinators such as honeybees and butterflies, which are disappearing from the planet. This requires abandoning pesticides and growing certain plants to attract the creatures. Life is a Garden has information about how to do that and reap a garden full of butterflies.

https://www.lifeisagarden.co.za/plants-for-the-planet-the-eco-benefits-of-plants-and-gardening/

Garden Like a Master

Take gardening expertise one more step and become a master gardener. Every province has master gardener training that accepts people who are passionate about growing and have some skills to offer – dedicated to promoting all horticulturally related businesses and events in South Africa.

http://horti.co.za/

Take Care of Animals

Pet sitters get to indulge the desire to be around animals, usually dogs or cats, which is especially helpful if the rules of their own home prohibit pets. Local pet-sitting companies often advertise for workers with signs in vets’ offices or stores that sell pet supplies, but retirees can go independent and put up their own signs advertising for clients. Pet lovers who enjoy being outdoors and are strong enough to handle several dogs at once can also be dog walkers.

Foster a Pet

Owning a pet seriously limits the time that can be spent away from home. If a lot of travel is part of the retirement plan, yet you love to have animals around, become a foster parent to a local shelter. Foster homes provide temporary care to rescue animals, those being treated for an injury, the very young, or those otherwise temporarily unfit for adoption into a permanent home.

Look Within

Many people become more attuned to the spiritual as they age, and some studies show that people with deeper spiritual connections have more positive relationships with others, and greater mental and physical health. Churches, synagogues, and other religious institutions welcome newcomers.

Stay Fit

There is little that will keep retirees younger than beginning the exercise regime they always meant to establish. One of the best exercises, requiring nothing more than a good pair of shoes, is walking — even people who have been sedentary all their lives know how to do it. Beginners can start with a regimen such as the one proposed by the Mayo Clinic. If bad weather is a deterrent, joining an inexpensive gym is an option.

Try Yoga or Pilates

Yoga is as an ideal form of exercise for older people. Because it is gentle and there are no jerky movements, it is unlikely to lead to injury. Pilates is a similar form of exercise that is meant to strengthen the core, and the Mayo Clinic says it promotes the flexibility that seniors might start to lose. Although both can be done at home with a video, it’s probably a good idea for beginners to take a class with an instructor who can help with proper form and alignment.

Strengthen Your Personal Bonds

During the work years, a lot of time that could be spent with family gets limited to vacations and stolen moments. Retirement gives people the opportunity to renew family ties and spend quality time with grandchildren, and meet friends for lunches that last as long as the conversation does. Rather than going out on weekends, groups of friends can visit during the week, when gathering places are less crowded.

Leave a Tasty Legacy

Of the many things that can be passed down to family members, the most memorable often have to do with food. A cookbook of family favourites is a good way to bring family members together with shared recipes and memories. Copy centres can bind these recipes together into keepsake books.

Climb the Family Tree

Making a family tree is a chance for each member to tell their stories. Myheritage.com has tips on how to bring historical documents and family artifacts into the tree to make it more meaningful, and where to look for information that goes back further in time than any living member can recall.

www.myheritage.com

Become a Lifelong Learner

The University of the 3rd Age, Cape Town (U3A C.T.) is the springboard from which all U3A activities in South Africa took off.  It was launched at the millennium, has grown by leaps and bounds, splitting itself and giving birth to offshoots along the way. The objective is to offer mental and physical stimulation and socialisation to senior citizens, through opportunities for life-long learning for learning’s sake, in the company of interested peers.

http://www.u3a-ct.org.za/

Or Learn Online

Open Education Database is a directory of thousands of free courses on every conceivable subject from providers of massive open online courses, or MOOCs, and universities all over the world. Although some of these are audio or video lectures, some have full syllabuses with all the attendant reading and homework and the option to earn a certificate (sometimes for a fee), although not college credit.

Learn a New Language

Retirees can take the time to learn a new language, perhaps before traveling to a country where the language is spoken. ITunes U is a good resource for language learning, which can be done at the participant’s own pace. Among the classes available is an MIT OpenCourseWare video class called “Speak Italian With Your Mouth Full,” which combines language and cooking lessons. Languages available range from French and Spanish to Chinese, Arabic, and Russian.

To read more about matters for consideration when preparing to buy into a retirement village, click here.

Shire Retirement Properties (Pty) Ltd (Shire) is based in the Western Cape Province of South Africa and specialises in the provision of a range of services focused exclusively on the retirement industry.

 

Now that’s rock ‘n’ roll!

Now that’s rock ‘n’ roll!

Brigit Grant From Jewish News, wrote on July 12, 2020, 6:32 pm:

“Now that’s rock ‘n’ roll! Care home residents recreate iconic album covers

Sydmar Lodge residents in Edgware pay homage to classic albums by artists including Madonna, Adele, David Bowie and Bruce Springsteen.

When activities co-ordinator Robert Speker, decided to recreate album covers with the residents at Sydmar Lodge in Mill Hill, he had no idea his photographs would go viral in hours and create a media frenzy.

Robert, 41, who has worked at the care home for five years was at work on Sunday when TV and radio stations started calling to ask him about the project which features the home’s Jewish residents replicating the cover poses of artists such as Madonna, Adele, Bruce Springsteen and Rag ‘n Bone man.

Robert, who previously worked at Kisharon was featured in Jewish News when he took resident Shelia Solomons to see Rag ‘n Bone Man and Shelia, who appears in the album collection as Rag ‘n Bone Man complete with tattoos painted on by Robert and as bassist Paul Simonon in The Clash’s album London Calling.

Born and raised in Newcastle, Robert who has been working through lock-down, almost missed the birth of his third daughter, Olivia on June 25 when his wife Aya went into labour while he was at the care home taking the final shot of Hilda for the Blink 182 cover. “My wife is very, very understanding,” says Robert who is always coming up with new ways to entertain the residents.

“I have taken them to the Ritz for tea and I am thinking of ways to get them an outing to a casino. A few weeks ago I hosted a 100th birthday for a resident with her family on Zoom. It was wonderful but sad because she should have had the party she deserved.” With plans to come up with more ways to make the residents happy, Robert set up a go fund me page.

“I did the project to make them happy and I think the models’ families have enjoyed it, with even grandchildren posting about their grandparents, but the risks of Covid means they could be in lock-down for a long time and I want to make it a good time.”

Since posting the covers on Facebook, Robert has been contacted by news agencies across the globe and will appear on BBC News in the morning, CNN and Channel 5 tomorrow. “Then it’s back to Sydmar Lodge to think of ways to keep the residents uplifted.”

To view the album collection, click here.

Shire is proud to provide a range of quality,  independent, personalised services to the retirement market – We look forward to being of service to you. To contact us, click here.

How to help older people through the COVID-19 pandemic

How to help older people through the COVID-19 pandemic

Kate Whiting (Senior Writer, Formative Content) for the World Economic Forum, wrote the following article that was published on 12 March 2020.

An expert explains: how to help older people through the COVID-19 pandemic

The fatality rate for people over 80 from COVID-19 is almost 15% according to data from China.

Dr. Kate Tulenko explains why older people are so much more vulnerable, as well as the impact coronavirus is having on health systems across the globe and health workers.

As cases of coronavirus continue to rise around the world, the weeks and months ahead will stretch healthcare systems to the extreme.

Data from China, where the outbreak began in Wuhan in December, shows older and elderly people (aged 60 plus) are the most vulnerable to COVID-19.

Dr. Kate Tulenko is a physician and CEO of Corvus Health, a global health workforce services firm. Here she explains why the elderly are more at risk and how to help older family members during the outbreak.

Why are the elderly more vulnerable to coronavirus?

There are both physical and social reasons. Older people don’t have as strong an immune system so they are more vulnerable to infectious disease. They’re also more likely to have conditions such as heart disease, lung disease, diabetes or kidney disease, which weaken their body’s ability to fight infectious disease.

In many countries, they are more likely to be in institutionalized settings like a nursing or retirement home, or living with family in a more crowded situation where there’s a greater risk of infection.

The elderly might also have isolation or mobility challenges. So because they’re isolated, they can’t get information about what to do, or they’re not able to get food they need if stores are out of stock and things become more difficult. In many societies, seniors are more likely to live in poverty, which makes it more difficult for them to get the things they need and to take care of themselves. Poverty presents a whole range of challenges pertaining to health.

Why is the mortality rate higher for older people?

There’s a direct correlation between mortality and age. So if you’re 60 to 69, the mortality rate is at 3.6%. At 70 to 79, it’s 8%. And if you’re 80 or above, it’s 15%. In some of the data I’ve seen, it’s even higher, at 18%. The elderly are more likely to get acute respiratory distress syndrome, the acute lung injury that is causing many of the deaths. But it seems the virus is also more likely to affect the heart than any similar viruses, so they’re actually seeing people dying from heart attacks who have COVID-19. A dialysis centre in Wuhan had a number of patients die from coronavirus without any pneumonia, so it just stresses the body in general. It doesn’t have to be the pneumonia that kills them.

A side-effect of the impact of coronavirus on the health system is we’ll see the elderly will be more likely to die of other causes. If you’re in Milan right now, you’re 70, and you have a heart attack, you’re going to get substandard care because the system is overwhelmed. The elderly are hospitalized on a daily basis at much higher rates than younger people and they are not going to get the quality care they deserve during the outbreak.

If you were an elderly person who has a three-month check-up with the doctor today, should you go? You have to weigh the risk of getting coronavirus with the benefit of seeing the physician. And for most people, it is probably best to skip that visit. But what if it’s something like diarrhoea? Normally, they would be seen, but now they may consider just staying home and treating it there, which is a risk as well. So it’s a real dilemma. Luckily, in some countries, physicians’ offices are starting to do telemedicine visits, but these may be difficult for seniors to access.

If you’re aged 60 and above, what can you do to protect yourself?

The main message is that people really just need to change their behaviour for two to three months. They’re not being asked to socially isolate themselves forever. When you look at the curve of the outbreak in Wuhan and Hubei, it’s really only been two months, so stay safe for two months, and you’ll most likely be alright.

A lot of the advice is the same for everyone, but with a vulnerable group, it’s that much more important because they’re at risk. The main points include:

Practise social distancing, so don’t receive any visitors unless absolutely necessary. If you have to see others, make sure it’s only healthy people and preferably no children, because they can be asymptomatic carriers.

Don’t leave home unless absolutely necessary, have neighbours shop for your groceries and refill any medications.

If you have to go out, avoid large groups, don’t shake hands or hug, keep a distance of at least three feet from people and avoid touching your face. Wash hands when you return home.

Read the US Centers for Disease Control and Prevention’s recommendations for at-risk groups here.

How can relatives help senior members of their family?

The key is communication – many seniors don’t have smartphones and they might not speak the main language of the media. Families need to make sure they call on a regular basis to help combat social isolation. And families are going to need to have extremely uncomfortable conversations around end-of-life decisions, such as whether they want to be resuscitated or have chest compressions in the event of a heart attack. It gives families a greater sense of peace once they have had the conversation.

What about elderly people in care homes?

Lots of people ask me, “Should I pull my loved one out of the nursing home?” It really depends on their situation and your situation. You might have children and you might have a crowded environment as well. Also there might be a fall risk. Nursing homes are set up to prevent people from falling, there are handrails everywhere and no trip hazards. If you take that person and put them in a strange environment, they’re more likely to break a hip and there are risks associated with moving them.

Health workers in nursing homes will need to have refresher training in infection control and the proper equipment to protect them and the residents. For two or three months they will need to suspend any social activities, such as art class, and allow residents to eat in their rooms, so they don’t congregate.

To continue reading the rest of the article, click here.

Shire Retirement Properties (Pty) Ltd (Shire) is based in the Western Cape Province of South Africa and specialises in the provision of a range of services focused exclusively on the retirement industry. We have provided services mainly to the following sectors within the retirement market since 2010:
• The developers of retirement and lifestyle villages
• Operators and owners of retirement villages

To read more about our services, click here.

Tips to help you retire when you want to

Tips to help you retire when you want to

Business Insider’s Liz Knueven writes about 8 pieces of advice to help you retire when you want, according to people who have done it, on the 5th February 2020.

To retire how you want, it’s crucial to plan ahead — at least that’s what these retirees from Business Insider’s Real Retirement series have found.

Retirement is more than just leaving work.

If you want to make sure that you’ll be able to retire when you want, retirees from Business Insider’s Real Retirement series have some tips from their own retirement experiences, from paying off your mortgage and other debts, to working with a financial planner.

Here are these retirees’ best pieces of advice for anyone who wants to leave work someday.

  1. Find a good financial planner and work on your equity allocation

When one of his friends tell him they’re thinking about retiring, Dirk Cotton’s first advice is to find an expert. “Find a good a retirement planner, because retirement planning is incredibly complex,” he said. “They’re extremely helpful and worth the investment, and it’s worth it to start talking to them in the years before you retire.”

He also suggests focusing on your investments. “The major thing that I would say is, 10 years before retirement, you probably want to end up somewhere in the neighborhood of 40% to 50% equity allocation,” Cotton, who retired at 52, said. He said this is one of the big things that helped him retire comfortably in 2005 and get through the Great Recession.

“I weathered that storm extremely well,” he said, crediting this advice. “A lot of people had 100% equities when they were saving for retirement, and lost over 50% in a very short period of time.”

  1. Make time for a yearly or quarterly retirement planning check-in

Bill Brown, who retired at 65, says one of the most helpful things he did was regularly set aside a few minutes to strategise. “I did this maybe once or twice a year,” he said. “You sit back and you mentally go through,

  • ‘How am I doing?
  • What could I change?
  • What should I change?’

And then, you alter it.”

Doing this helped him and his wife realize they could be doing more to cover themselves with life insurance and long-term care insurance. It helped them to focus on the bigger picture of retirement planning, and keep on track to retire on time.

  1. Start planning sooner rather than later

“I got a late start. From 33 to 43, those quarterly statements I got from a TIAA, I threw them away,” David Fisher, who retired at 65, told Business Insider.

“When I was in my early 40s, I opened one of my quarterly statements that I used to throw away. And I said, ‘Oh my goodness, I’ve got $30,000 to $35,000 in there. That’s my money.’ Then I became interested in retirement,” Fisher said.

If he could turn back time, that’s the advice he’d give to his 35-year-old self. “Invest early and invest as early as you can and put away whatever you can afford,” he said.

  1. Start maxing out your retirement accounts and live within your means

Corky and Patti Ewing never made more than what is considered a middle class income in their California home. In 2019, they retired comfortably thanks to strategic saving and investment decisions. Corky told Business Insider he’d advise anyone wanting to retire to “max out their retirement accounts, their 401ks or their IRAs.”

To do this, he continued: “I’d tell someone to live within their means, because you don’t have to try to keep up with your neighbors.”

  1. Prioritize your spending on experiences rather than things

Karen and Joe Stermitz sold their home in Washington to travel the world and live frugally after they retired in 2017.

“I would tell people just to be frugal. Things don’t bring you happiness, experiences do,” Karen said. She and her husband started a journey through South America in an overlanding vehicle in 2019.

“I don’t buy things; we don’t buy a lot of things. Get away from the focus of the things, and focus on experiences and living life,” she said.

  1. Own a home you can afford

“Our home is key to our retirement,” said Bill Davidson, who retired at 54. He and his wife Rose moved from Oregon to New Mexico after he stopped working to travel, live affordably, and be mortgage-free.

They chose to build an environmentally-friendly home, which reduces utility expenses considerably. “If you reduce your utilities to almost nothing, that means you’re living in environmentally friendly, energy-efficient lifestyle,” he said.

“Our home costs about $300 per month,” he said. By owning a home they can easily afford and moving to live mortgage-free, the Davidsons are able to spend more on family and travel.

  1. Keep your credit score up and live debt-free

“I did get a little good advice early on from my godfather about having perfect credit scores and never using credit to finance lifestyle,” said Fernanda Dorsey, who is now traveling the world with her husband, Jim, after retiring at 52. “Those pieces of advice were jewels,” she added.

“We’ve been basically following those two things, so we don’t have any debt. When we left work to travel, we had perfect credit scores, and that’s good,” she said.

To read the rest of the article, click here.

Shire Retirement Properties (Pty) Ltd, offers talks on generic topics of interest to those considering retirement. To have a look at our Company Overview brochure, click here.

An unusual approach to architectural design to help the elderly with mental problems

An unusual approach to architectural design to help the elderly with mental problems

Robertas Lisickis, BoredPanda staff member wrote in his article:

This Nursing Home For The Elderly With Mental Problems Took An Unusual Approach To Design

None of us can honestly predict what life will be like for us when we retire. While many spend their golden years doing whatever they always wanted to but never could, some aren’t so lucky.

The body grows weak and the risk of physical as well as mental illness increases significantly as the years go by. The time that many of us are prematurely planning to be spent finally writing that book or finally getting that hobby workshop set up may be cut short by things like Alzheimer’s or Dementia.

A nursing home in Ohio that takes care of many elderly people that are suffering from memory problems decided to rethink the traditional nursing home formula.

An assisted living facility in Ohio decided to break with tradition when it comes to nursing homes.

Lantern, an assisted living facility in Ohio and a number of other locations around the US, revamped their indoor spaces to look like an authentic neighborhood. The facility features living units that look like houses, equipped with porches and everything. There’s carpeting that looks like grass, ceiling lighting that mimics a partly-cloudy sky, and other decorative elements like street lights and garden-like flora.

Bored Panda got in touch with Jean Makesh, the CEO of Lantern and the man behind this idea. We asked him about the origins of this idea: “I simply wanted to address the pain. I always believed and to this day believe that if I don’t, who else will?”

He continued: “As an occupational therapist, a caregiver, a care provider, and a businessman, it is my responsibility to take care of my elderly clients and families. The design I have in all my communities are influenced by the elderly clients that I served over time and serve now. I made a conscious and a difficult decision to only listen to my elderly clients. They taught me everything I know today.”

Its “neighborhood” design aims to provide a healthy environment to the elderly with memory problems.

Besides the looks, the nursing home also strives to mimic the feel of the place by setting up ambient sound and smell. So, whenever the inhabitants leave their units, they are greeted by friendly bird chirping and the smells of the outside. This way, all of their senses are stimulated to feel as if they never left their homes to live in a nursing facility.

Makesh explained that the environment is key in dealing with memory illness and other typical mental problems of the elderly years. Alzheimer’s patients, for example, experience a great amount of confusion in elderly homes, so creating a more familiar setting helps to alleviate their struggles.

“As an occupational therapist, I was trained to approach everything scientifically. I researched every concept to ensure that my designs were scientific and had elements of science to support everything that my elderly clients taught me,” explained Makesh.

To read the rest of the article, click here.

The development of retirement villages is a specialist field and Shire consultants complete the standard professional team of developers who are planning or executing new retirement developments. To find out more about us, click here.

The valuation of Life Right occupation in retirement villages

The valuation of Life Right occupation in retirement villages

This article was first published on the 14th of March 2016 by PPE Valuations.

Retirement village developments can generally be defined as usually including a mix of independent living units (ILUs) and serviced apartments (SAs) with community facilities providing a shared congregational area for village activities and socialising (McAuliffe, 2010).

Very little has been published in South Africa on the valuation of retirement villages. The retirement village phenomenon is fairly new in South Africa with a recent history of not more than 30 years when the first Baby Boomers reached retirement age and available amenities (old age homes run by government and other “care” societies and groups) were found to be wanting. Developers saw a market to develop schemes tailor-made to suit the needs of middle- to upper-income retirees, and so the first privately owned and operated retirement villages, as a departure from the traditional retirement homes, were constructed. Since then there was an explosion in the construction of retirement villages.

Retirement village assets differ from traditional residential assets due to their operation in accordance with statutory legislation. Before one can determine the approach and method of valuation to follow, one must have therefore an understanding of the legislation and legal structure surrounding a property type and its ownership. Following is a short discussion on the legislation governing retirement villages as well as the legal structure of ownership, as envisioned by the legislation.

Legislation
Unfortunately, legislation does not always keep up with the pace at which the social landscape changes with the result that South Africa does not have any specific laws regulating the development of retirement villages per se as opposed to Australia and the USA where every state has its own Retirement Villages Act (Towart, 2013). There exist, however, an Act in South Africa known as the Housing Development Schemes for Retired Persons, Act No 65 of 1988, which tried to address issues regarding such schemes. Unfortunately the language used in the Act is in some respects obscure and the Act’s structure is cumbersome. The word “retirement village” is nowhere mentioned in the Act. And, yet, the Act offers substantial protection against a variety of risks to retired persons who invest in retirement schemes (Kilbourn, 2008).
Some definitions as set out in the Act is important in understanding the legal structure of the property interest.
The Act defines a “retired person” as someone who is “fifty years of age or older”. The purchaser of the housing interest need not be a retired person; anyone; regardless of age, may invest in a retirement scheme. In terms of section 7 of the Act, however, no person other than a retired person or the spouse of a retired person except with the written consent of all other holders of housing interests in the scheme may reside in a retirement scheme.

Section 1 of the Act defines “housing development scheme” as follows:
“any scheme, arrangement or undertaking-

  1. in terms of which housing interests are alienated for occupation contemplated in section 7, whether the scheme, arrangement or undertaking is operated pursuant to or in connection with a development scheme (read: sectional title) or a share block scheme or membership of or participation in any club, association, organization or other body, or the issuing of shares, or otherwise, but excluding a property time-sharing scheme; or
  2. declared a housing development scheme by the Minister by notice in the Gazette for the purposes of this Act;

“Housing interest” is defined as follows in the Act:
in relation to a housing development scheme (that is a retirement scheme), means any right to claim transfer of the land to which the scheme relates, or to use or occupy that land

“Right of occupation” is defined as follows in the Act:
means the right of a purchaser of a housing interest-

  1. which is subject to the payment of a fixed or determinable sum of money by way of a loan or otherwise, payable in one amount or in instalments, in addition to or in lieu of a levy, and whether or not such a sum of money is in whole or in part refundable to the purchaser or any other person or to the estate of the purchaser or of such other person; and
  2. which confers the power to occupy a portion in a housing development scheme for the duration of the lifetime of the purchaser or, subject to section 7, any other person mentioned in the contract in terms of which the housing interest is acquired, but without conferring the power to claim transfer of the ownership of the portion to which the housing interest relates

To read the rest of the article, click here.

Shire offers development consulting – assisting developers in the planning and execution of all key elements of new retirement villages. To read more about our services, click here.

Retirees want to downscale without sacrificing their lifestyles

The desires of today’s retirees to maintain their independence, work longer and manage their own health are the reasons behind the growing evolution of retirement property. And as their lifestyles continue to change, retirement offerings will have to adapt.

The major difference between the former traditional retirement properties and those being developed today boils down to these lifestyle changes. Craig Scott, chief executive of The Village at Langebaan Country Estate, says retirees want to be able to downscale their homes without sacrificing their lifestyles.

The rising popularity of retirement village living – as opposed to retiring in place (at home) or in an old age home – has been led by baby boomers seeking lifestyle solutions that provide stress-free, affordable and sustainable living, he explains.

Progressive retirement village operators have a clear understanding of today’s retirees’ wants and needs and are setting new standards in their services and facilities. These include the provision of quality health and frail care, security and operations, world-class hospitality and technology, along with village and home maintenance and refurbishment.

And because life becomes most enjoyable when one is freed from the stresses of sustaining their financial resources and maintaining their home, there is a major shift towards the Life Right purchase model.

Bonny Fourie from Property 360 writes : The lifestyles of retirees are changing and the market must adapt. To read more, click here.

The type of work undertaken by Shire is typified by the following examples of projects undertaken: Click here.

Is independent living the right choice for you?

Is independent living the right choice for you?

Interested in moving to a retirement home or retirement community? Explore your options and learn how to make the best choice for your needs.

What is independent living?

Independent living is simply any housing arrangement designed exclusively for older adults, generally those aged 55 and over. Housing varies widely, from apartment-style living to freestanding homes. In general, the housing is friendlier to aging adults, often being more compact, with easier navigation and no maintenance or garden work to worry about.

While residents live independently, most communities offer amenities, activities, and services. Often, recreational centres or clubhouses are available on site to give you the opportunity to connect with peers and participate in community activities, such as arts and crafts, holiday gatherings, continuing education classes, or movie nights. Independent living facilities may also offer facilities such as a swimming pool, fitness centre, tennis courts, even a golf course or other clubs and interest groups. Other services offered may include onsite spas, beauty and hairdresser salons, daily meals, and basic housekeeping and laundry services.

Since independent living facilities are aimed at older adults who need little or no assistance with activities of daily living, most do not offer medical care or nursing staff. You can, however, hire in-home help separately as required.

As with any change in living situation, it’s important to plan ahead and give yourself time and space to cope with change. By using these tips, you can find an independent living arrangement that makes your life easier, prolongs your independence, and enables you to thrive in your retirement.

Types of independent living facilities and retirement homes

There are many types of independent living facilities, from apartment complexes to separate houses, which range in cost and the services provided.

  • Low-income or subsidized senior housing
  • Senior apartments or congregate care housing.
  • Retirement homes/retirement villages.
  • Continuing Care Retirement Communities

The key difference between independent living and other housing options is the level of assistance offered for daily living activities. If you require round-the-clock help with eating, dressing, and using the bathroom, or require regular medical assistance, other housing options such as assisted living facilities or nursing homes may be a better fit.

To read more about HelpGuide’s tips for coping with a move to independent living, click here.

Shire is proud to provide a range of quality,  independent, personalised services to the retirement market – We look forward to being of service to you. To find out more about the services on offer by Shire, click here.

1 2 3