Many people who are in their mid-50s are likely to be thinking about their future, both in terms of where they live and what do when they retire from work. This is sometimes referred to as retirement living, or over-55 living, as many people choose to take early retirement or semi-retirement and work part-time.
The options for retirement living are varied, and the aging individual or their partner can choose the option that best fits their circumstances. These options can include retirement villages, nursing homes, residential aged care facilities and assisted living projects.
Most people looking at the options for retirement living will want to maximise their independence while also planning for the future in terms of medical needs and different types of help in assisted living.
If someone approaching the age of 55 already has specific medical needs or some type of disability, this will be a major consideration in choosing what type of retirement living they consider most appropriate.
Retirement villages are proving a popular option for a significant number of people and are primarily aimed at people 55 and over. These villages are normally run by commercial operations and do not normally include many medical or care-related services, although these can normally be obtained elsewhere.
These retirement villages are intended to create a community of like-minded individuals where people can live independently while also sharing a number of communal facilities and benefits, such as meeting rooms, libraries and swimming pools
They may also be a focal point for providing services and community activities, such as organised outings, joint meals and trips to theatres and shows, and organising facilities for doctors and allied health officials.
Living in a retirement village normally means buying a unit, although there may be an option to rent. This obviously brings up presents a number of legal issues, both relating to the unit and facilities and services within the village.
This should be well researched before any commitment is made, as buying such a unit obviously has different implications from buying a normal house or condo. There can also be implications if you need to sell the unit to move on elsewhere.
Residential Care Facilities
This is the other main option for retirement living, or over-55 living, where there is a recognition of a need for some type of nursing or medical care, either now or in the future.
This type of facility is normally referred to as a nursing home, although this can be quite a wide term and cover a number of different assisted living facilities.
The important consideration is what level of care is likely to be needed, either at present or in the future. This will have implications for the type of facility chosen, be it a nursing home, hostel, residential park or boarding house.
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