Why an Entourage is a Key Investment for Retirement

As you age, you may need more and more people to help keep you going, financially, physically and in other ways.

An illustration of an older couple followed by three people helping them walking outside in a park.
(Image credit: John Tomac)

In their seventies, Leah and Allan Lipman lived an idyllic retired life. Summers in their longtime Buffalo, N.Y., home, winters in Boynton Beach, Fla. They drove back and forth, and relied on various services and individuals to care for their lawn and home repairs. They kept up with doctor visits and enjoyed swimming and socializing with friends over card games. Allan, a former lawyer, managed all the finances and correspondences. “They were staunchly independent,” their daughter Joan Green recalls.

By their early eighties, they were paying someone to drive them to and from Florida. Their children supported them during medical procedures — which became more frequent. Knee replacement. Pacemaker. Leah’s arthritis began to make cooking more difficult. The couple moved to a Rockville, Md., apartment to be near their daughter, who helped with rides and errands. They found a housekeeper for light cleaning.

Subscribe to Kiplinger’s Personal Finance

Be a smarter, better informed investor.

Save up to 74%

Sign up for Kiplinger’s Free E-Newsletters

Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.

Profit and prosper with the best of expert advice - straight to your e-mail.

Sign up

To continue reading this article
please register for free

This is different from signing in to your print subscription

Why am I seeing this? Find out more here

Contributing Writer, -

Katherine Reynolds Lewis is an award-winning journalist, speaker and author of The Good News About Bad Behavior: Why Kids Are Less Disciplined Than Ever – And What to Do About It. Her work has appeared in The Atlantic, Fortune, Medium, Mother Jones, The New York Times, Parents, Slate, USA Today, The Washington Post and Working Mother, among others. She's been an EWA Education Reporting Fellow, Fund for Investigative Journalism fellow and Logan Nonfiction Fellow at the Carey Institute for Global Good. Residencies include the Virginia Center for the Creative Arts and Ragdale. A Harvard physics graduate, Katherine previously worked as a national correspondent for Newhouse and Bloomberg News, covering everything from financial and media policy to the White House.