Have you heard about the term "Silver Squatters"?

This interesting concept came to my attention when a friend texted me about it after hearing it on the Today Show. So, naturally, I did what anyone would do—I Googled it to learn more.

When we hear "squatters," our minds typically jump to individuals taking over properties without paying rent. However, the term "Silver Squatters" refers to something quite different. It describes older adults, particularly those from Generation X—individuals born between 1965 and 1980—approaching retirement age without sufficient financial resources to support themselves fully during retirement. Consequently, they often rely on financial and housing support from family members.

Silver Squatters: the outcome of a complex situation

This phenomenon has started gaining attention due to the unique challenges facing Generation X. Many in this group have experienced economic downturns, the impact of the pandemic, and the disappearance of traditional pensions once provided to older generations. Alongside the ever-rising cost of living, these factors have left this generation in a difficult financial situation as they approach retirement.

What the data says:

One study by Prudential Financial found that nearly a quarter of 55-year-olds expect to need financial support from family in retirement—a percentage that's twice as high as for those aged 65 to 75. Additionally, 21% of Gen Xers anticipated requiring housing support. This demonstrates how significant and concerning these financial challenges have become.

Another notable issue facing this generation is their membership in the "sandwich generation." This group finds themselves supporting both aging parents and their own children, making it incredibly challenging to save adequately for retirement.

Alarmingly, a study revealed that 35% of 55-year-olds would struggle to assemble $400 in an emergency. That's a stark contrast to the 19% of those aged 65 and older who share this difficulty.

What is happening in Real Estate

To better understand the impact of this phenomenon, I spoke with some industry friends. A realtor friend, and previous guest of the podcast, Trisha Spurrier, has noticed an increase in multigenerational housing demand—people looking for homes with in-law suites or additional living spaces as families move parents in to live with them. Similarly, a friend who works at a home care agency is witnessing younger generations assisting their grandparents because they lack the financial means to do so independently.

From a senior living perspective, the rise of Silver Squatters could influence the demand for multigenerational housing and alternative senior living arrangements. Families might consider cohabitating to manage costs, similar to how families lived when I was growing up.

On a personal note, my own family provides an example of this modern phenomenon. Although I'm not a Gen Xer, my son currently lives with us to help care for my husband, who had four strokes nearly two years ago. This highlights how adult children can play a crucial role in supporting aging parents and managing household needs.

So, what can we do from a financial perspective? Well, first and foremost, it's never too early to start planning. Financial advisors emphasize the importance of proactive retirement planning, urging those approaching retirement to maximize contributions to retirement accounts and consider additional income streams. Open discussions between family members can also be key to planning for the future.

Ultimately, the development of Silver Squatters underlines the critical need for effective retirement planning for everyone. With the potential rise in family-centered living arrangements, adapting to financial challenges will require cooperation and strategic planning. Despite the challenges, there are ways to...

How can you adapt your home and life to caregiving?

Ever since my husband Mark had a stroke over Christmas, life has been one big learning experience. I knew about common caregiving struggles secondhand from my clients, but living it has been more impactful than I could ever imagine.

My podcast producer, Ana Xavier, joins me to discuss life since Mark returned home this summer after spending months in rehab - and we answer my most common questions about our journey.

Mark has continued rehab and is working to become stronger over time, but our home needed many adjustments. An occupational therapist visited our home in March to make suggestions on ways to make our home accessible - long before he came home in July. Our bathroom layout was an issue, as the toilet was in its own separate room with a narrow door. As a result, we had to update our other downstairs bathroom.

The second issue was getting Mark up and down: from the bed to his wheelchair, and from the wheelchair to the toilet. Thankfully grab bars have been our best friend, and Mark and I have our system for getting him out of our sleep number bed. A contractor also helped us reconfigure the sink to become wheelchair friendly, and we added a heating lamp to keep Mark warm while showering without a curtain or door. A great shower chair is a must, as is a detachable showerhead.

Wheelchair-proofing the rest of the house has also been a journey. I never realized how beat up our baseboards and walls would become. We’ve also had to move everything against the wall and remove rugs and any clutter so Mark can easily get around. Outside, we’ve also had to add a ramp to the front door. We don’t have any stairs, so a $99 ramp from Amazon has worked great.

Other adjustments were to find a dinner situation where the table would be just the right height, and making sure he has snacks and water within reach during the day. I also got a new van to accommodate Mark’s wheelchair, and we named her “Large Marge.”

The important thing to remember is that everyone’s situation is different. What works for one caregiver may not work for another. Maybe there are other solutions or even workarounds. Find what works best for you. Also, it’s okay to feel sad about your home changing when you make it accessible - I know I hated removing my favorite rug. However, it’s important that Mark is safe as he regains his strength. That’s the priority.

Topics discussed:

-Making your home accessible

-Bathroom renovations for wheelchairs

-Caregiving

-Occupational therapy

-Home wheelchair ramps

Takeaways from this episode:

-Beware of grab bars that attach to your wall via suction cups. If they become loose and detach, you can become seriously injured.

-An easy way to make your bathroom sink wheelchair friendly is by removing the cabinet doors.

-As you come up with new habits and routines, you’ll learn what works and what doesn’t – and it’s okay to adjust.

-The Texas Ramp Project helps build ramps for homebound individuals. Check if your area has a similar nonprofit, or check for volunteer opportunities at your local church for help with your home.

Get my new book, 'Surrounded by Love: One's Family Journey Through Stroke Recovery': https://loriwilliams-seniorservices.com/book

To suggest a topic, be a guest or support the podcast, please email Lori@Loriwilliams-seniorservices.com

For more senior resources and to sign up for the newsletter, please visit:

Grappling with Faith

When you're faced with a loved one's health crisis—be it a spouse, child, or parent—it's natural to question and confront every emotion you feel, including those tied to faith. Experiences like this can push some to lose faith, while others find their faith strengthened. Personally, during the two years since my husband Mark suffered four strokes, I've found my faith not just intact but growing. Of course, I've had moments of profound anger and even directed harsh words at God, questioning why this would happen to us.

Questioning Why

It's very human to ask why catastrophic illnesses affect our loved ones. Watching someone you cherish suffer is excruciating, and it's common to feel helpless and angry at the situation—and even at God. You're left wondering why such a wonderful person, who has only shown kindness, has to endure such hardship. But I've learned to turn to my faith for strength. This is not to say everyone will resonate with this path, but for me, prayer and my relationship with God have been pivotal. It's important to find a purpose amidst the struggle.

Finding a Purpose

Through this challenging journey, I discovered a new purpose—to educate others about strokes. By sharing our story, I've been able to help many, whether through my podcast, my book, or the Stroke Smart series I developed. Educating others about preventing strokes, navigating medical systems, and being a caregiver has been a pathway I never expected but one I now embrace.

Embracing Joy in Caregiving

At first, becoming a caregiver was the one thing I never wanted to do. But I learned to find joy in the role. Little things, like funny moments shared with Mark, have brought laughter and light. It's okay to find humor in unexpected places, like when our beloved dog Sadie ended up with chicken pot pie on her head due to a caregiving "mishap!"

Sustaining Faith

If your loved one is a person of faith, it's important to help them maintain their spiritual practices. Whether it's attending mass or having someone pray with them, these moments can be profoundly comforting. Navigating the emotions tied to faith—from sadness and anger to peace and growth—is okay. We must remember to seek support, whether from therapists, support groups, or spiritual leaders.

Miracles in Everyday Life

Even amidst trials, I've witnessed miracles. There are moments when seemingly small blessings, like a stranger’s kind word or someone paying for a coffee at Starbucks, remind me of the goodness in the world. My experience with a kind driver who stayed with me during a tense hospital visit was such a moment of grace.

Timestamps:

• 00:00 Introduction and Personal Testimony
• 01:11 The Role of Faith in Caregiving
• 02:29 Struggling with Faith During Health Crises
• 04:16 Finding Strength in Faith
• 06:44 Purpose and Growth Through Adversity
• 07:50 Finding Joy in Small Moments
• 08:40 Finding Joy in Caregiving
• 09:08 A Funny Story About Mark and Sadie
• 11:18 The Importance of Faith in Dementia Care
• 11:56 Navigating Emotions and Seeking Support
• 12:50 Little Miracles and Acts of Kindness
• 16:13 Concluding Thoughts and Encouragement

1. Faith in the Face of Crisis: When caring for a loved one with a severe illness, your faith can be challenged. However, it can also become a source of strength and growth during difficult times.
2. Finding Purpose Through Struggles: Difficult experiences can unexpectedly lead to discovering new purposes, such as sharing knowledge and educating others about specific health issues.
3. Embracing Joy and Humor: Even in trying...