By Bhuvanaa Shreeram

Geeta kept the phone down and sighed. She turned towards Ravi, who simply shook his head and went back to his reading. It was their son Arun and daughter-in-law Shruti, once more urging them to come live with them in Bengaluru.

Geeta retired three months back from her successful 40 year banking career in Chennai. Ravi has been retired for the last 4 years and after a few short term consulting assignments and trips with friends etc, was beginning to get bored at home. Many of their friends were moving into senior living societies and were raving about it.

With their second grandchild on the way, they found it hard to deny Arun and Shruti’s requests too. Geeta had her misgivings about living in a multi-generational household as she remembers how difficult it was for her to adjust to a joint family setup when she got married.

And the house they were living in, had fond memories of their early years and the children growing up etc and they felt fondly about living in the same neighbourhood. They were torn between familiar surroundings, the family bonding that living with children and grandchildren will give and a possible chill out haven with friends and people with shared interests.

The decision between living with family, independently, or within a community of peers is pivotal for many seniors. Each option presents unique benefits and challenges that significantly impact the quality of life in one's later years.

Also Read: How A Purpose In Life Can Never Let You Retire

Exploring the Options

1. Living Independently:

Living independently allows seniors to maintain their personal space and daily routines without interference, fostering a strong sense of autonomy and self-sufficiency. This lifestyle can be empowering, as it enables older adults to make their own decisions, manage their households, and pursue interests at their own pace. However, living alone might also pose challenges, such as the risk of social isolation and the lack of immediate support in managing household tasks or during emergencies. It requires a well-thought-out support system and access to community resources to ensure safety and ongoing social connections.

2. Living with Children in Multi-Generational Homes

The traditional model of multigenerational homes, where seniors live with their children and grandchildren, offers profound emotional support and daily social interaction. This arrangement fosters a deep sense of belonging and purpose among older adults as they often play a significant role in household management and childcare. However, the dynamics can sometimes lead to stress due to generational differences and the physical demands placed on ageing seniors.

3. Living in Senior Living Communities

Alternatively, senior living communities designed for peer interaction provide environments where older adults can connect with contemporaries who share similar life stages and interests. These communities often offer tailored health services, organised social activities, and facilities designed for ageing populations, promoting a sense of independence and community. Yet, this can sometimes result in feelings of isolation from family and the broader community.

There is probably another solution worth considering.

Alternative choice - Living in Close Proximity to Family

Living in close proximity to family strikes a balance between independence and accessible support. This arrangement allows seniors to have their own space while still being just a short distance away from loved ones, making it easier to join family gatherings and share in everyday activities. It promotes frequent interactions that can enhance emotional well-being and provides a safety net of readily available assistance. However, it also necessitates clear boundaries and mutual respect for privacy and independence, ensuring that closeness does not become overbearing for either the seniors or their families.

Singapore’s Proximity Housing Grant: A Case Study Singapore’s Proximity Housing Grant exemplifies a progressive approach to senior living. The grant encourages families to purchase homes within close proximity to one another, thereby fostering family support while maintaining independent living spaces. This model supports emotional well-being through regular family interactions without the potential strains of cohabitation. The PHG reflects a blend of traditional familial support with modern needs for independence and has been well-received for reducing emotional and logistical barriers between generations.

The PHG was launched in 2015 and has since helped over 30,000 households

Benefits of Living Nearby

• Autonomy with Accessibility: Living near family allows seniors to maintain their independence while ensuring help is readily available when needed.

• Balanced Social Life: Proximity can help seniors maintain a balanced social life that includes both family and friends.

• Cultural and Emotional Continuity: Especially in cultures that emphasize familial care of the elderly, living nearby helps preserve these values without the full burden of caregiving falling on younger family members.

Challenges and Considerations

Singapore is a small country and moving in closer with family does not require moving to unfamiliar cities with unknown languages. Which would probably be the case in India. It also requires thoughtful urban planning and housing policies to be effective.

By adopting or adapting Singapore's model, countries can foster environments where seniors not only live longer but also lead happier and more connected lives. This would probably also lessen the stress on the health care system, given that families will step in when necessary and share the burden. With all its benefits, will living in close proximity become mainstream and the first choice of preference for seniors in India? Will the government support it with sufficient infrastructure, permissions and sops to make it affordable?

The author is a certified financial planner, co-founder and head of financial planning at House of Alpha Investment Advisers Pvt. Ltd.