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Transitions in Aging

Retirement Planning I

Financial Arrangements

Photo of jars filled with money

NEXT: Living Arrangements

Notes and References

First, let's think about whether we have enough money to support ourselves after retirement.

To answer that question, we need to think about how much money we spend on food, clothing, medical care, and housing each month at this time and where that money comes from. Then, we need to ask ourselves: If we retired today, would we still have enough money to support our lifestyle? If we have money from paid jobs, it is a good idea for us to save money for our retirement. If we receive support from the government, it is important to learn whether we can receive the same amount of support when we get older. The government may have programs to financially help all of us during our retirement years.1 These programs include social security income, social security disability insurance, and other benefits.1 To learn more about government benefits, we can visit the website of the Social Security Administration at: Also, we may be able to receive help for our medications, healthcare, rent, utilities, and other needs. It is important to discuss our eligibility for different government programs with our service coordinator or other support staff.

Once we identify our financial sources, we can work on making a monthly budget for our retirement. For example, if we have $500 a month, we should think about how much money we should be spending on our bills, how much we should be saving and how much we can spend on things we like but do not need. Remember we all have different strengths. Some of us are good with numbers and manage our money by ourselves. However, some of us could use some help from our family members or support staff. Therefore, when making our monthly budget, we should discuss our options with our family, support staff and/or a financial advisor to create a financial plan that will work for us. Finally, we should keep our financial documents in a safe place. These documents are very important and should be kept private between us and our family members or financial advisors.

It's never too early to plan for our financial future. The Arc in 2003 developed a handbook that can help us to develop a financial plan for our older adulthood. The guidelines are available to review in the resources section.

Okay, now that we have talked about money, we must talk about living arrangements during our retirement years!


  1. Davis, S. (2003). A family handbook on future planning. Retrieved from
  2. Keesler, J. M. (2015). Applying for supplemental security income for individuals with intellectual and developmental disabilities: Family and service coordinator experiences. Journal of Intellectual and Developmental Disabilities, 53(1), 42-57.