The term “retiring in place” can refer to two things.
It can be a slang term for employees who do not work very hard but who work just hard enough to not be fired so that they can be eligible for retirement benefits once they reach retirement age.
It can also refer to staying in your current home or location after retirement.
In this article, we will look at the risks of the latter.
While retiring in place is not always a negative thing, and indeed, the risks will depend on the specific circumstances of the senior, it can be a risky route to take for many older people.
Getting Around Can Be Problematic
As you become older, it can become more difficult to get around.
Things like driving to the other side of town or maneuvering on busy highways can become more challenging as you age, so if amenities are not close by, staying in the same location could become challenging and you could put yourself at more risk when driving on high-traffic roads.
If you find that driving is becoming more difficult, due to something like worsening eyesight or another health problem, you will need to rely on public transport to get around.
But if you live in a community that has poor transport links and does not have a good infrastructure for seniors, you run the risk of either having to pay expensive rates for cabs or not being able to get out and about as much as you want to.
Safety Could Become an Issue
Safety is sure to become an increasing concern as you grow older.
If you live in a neighborhood with a high crime rate or if your local area seems to be in decline, you could feel more at risk staying in your home during your senior years.
Living at Home Can Become Unmanageable for Many Seniors
Seeing as many seniors develop more health problems the older they get and find it difficult to be as active as they once were, older people who stay in their existing homes run the risk of finding life at home unmanageable.
For instance, it may become challenging to climb stairs. Therefore, it would make more sense to have all the necessary facilities on the first floor.
And some seniors could need to use wheelchairs, which means lots of adjustments would need to be made to their homes, such as replacing door knobs with lever handles and adding ramps. Such home improvements can be costly.
Also, simply managing a home can become more challenging and riskier the older you get. For instance, you may find it difficult to keep on top of cleaning and maintenance, which could result in living in unsafe conditions.
Local Care Homes May Not Have All the Facilities and Technologies You Need
If you decide to stay in your local area after retirement, you may eventually need to move into a nursing home. But you will be limiting your options over the kind of facilities and care available to you if you only look at moving to a care home in your local vicinity.
To get the most out of a care home, you will need lots of space and activities to engage in. You will also want to ensure the care home uses the best technology so that optimum care can be provided.
For instance, when homes use care software for health home management that is backed by a team with deep roots in the world of care management, care managers can gain full pictures of their caseloads, spend more time with their clients, and ultimately provide residents at homes with more care and support.
You will want to ensure any home you move into during your latter years has the right facilities and technologies. If it does not, you run the risk of not receiving the care and support you need.
It could be difficult to find a care home that ticks all those boxes if you confine your search to homes that are in your existing vicinity.
Final Thoughts
When considering retiring in place, you need to think about all of the above risks. After all, you should ensure you are looked after and are still able to enjoy life during your senior years.
