If it's on a holiday gift list geared toward elderly parents -- skip it.
As Catherine Collinson’s octogenarian father and stepmother downsized from a 4,000-square-foot home to a 1,400-square-foot, single-story home in a retirement community, their message to the rest of the family was clear: No more stuff, unless it’s functional or of great sentimental value.
“Our super-fun day at the museum was an opportunity for him to relive his adventures and share the stories behind the stories of the discoveries on display — and it was an opportunity for my family to learn more about his life and work,” said Collinson, the CEO and president of the nonprofit Transamerica Institute and Transamerica Center for Retirement Studies.
Think back to items or experiences in which your parents have already expressed interest. You might even buy a gift that rekindles a long-lost passion they abandoned years ago, like a camera for a one-time amateur photographer.Pillemer urges adult children to “ignore virtually every gift” they might find on holiday gift lists for elderly parents, such as grabber tools, jar openers and Roombas.
Or, if your parents are in the market for a financial planner or advisor, vet one for them, Collinson said — performing due diligence on candidates’ reputations, fee structures and compatibility with your parents’ financial situation. The Osher Lifelong Learning Institutes also provide classes for older adults through 124 colleges and universities, with an emphasis placed on affordability, said David Blazevich, the Bernard Osher Foundation’s senior program director. Collinson’s father has taken Osher courses for years at Colorado State University on topics like Photoshop and climate change, and also teaches a class on Antarctica.
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