Many Baby Boomers are living well past the age of retirement. While this is great in so many ways, it’s also a bit scary when the children or grandchildren of these people can’t be there to take care of them once they reach the point where they need at least moderate supervision. There may come a time when the choice must be made to move into a retirement home.
Now, a lot of retirement homes are actually communities for older people who can still live on their own but just need to be close to assistance in the event that it’s needed. They live in their own apartments and this is perfect for married couples. On the other hand, there are retirement homes that function more like nursing homes. These are for people that need lots of care and medical attention.
While there are many advantages to living in a retirement home, there can also be some very real risks involved. The biggest one seems to be that of a financial nature. There are many things to research regarding how the payment works at a retirement home. Each state has it’s own methods of doing this, but you want to be sure that you’re not left penniless in the end.
For example, retirement homes that are more like apartment complexes or communities, may work a lot like buying a home. You buy it as you would a house or a condo. There’s a mortgage involved as well as monthly payments on it. The biggest advantage in one of these places is that you’ll have the same control of your money as you would living in a house. Of course, most of these places have organized activities for those residents healthy enough and interested in them as well as a medical team on the staff. Transportation is also provided if needed. This is the best of both worlds for those retirees that are still healthy enough to enjoy this type of lifestyle.
If the retirement home needs to be more the environment of a nursing home, the payment is quite differently structured. So be sure to do the needed research on this before settling on a specific home. In that way, you won’t find yourself penniless after the nursing home payment is taken out.
Other risks involved include, sadly, the occupants being mistreated or even outright abused by the staff of the retirement home. This happens more often in the nursing home environment where the patients are mostly bedridden. It’s insidious that this happens, but it must be checked into before signing on the dotted line.
Infections can run rampant in retirement homes and it’s very important that the occupants are guarded against viral and flu outbreaks as much as possible. Find out what the policy is regarding how to keep down infections and illnesses before making a final decision. Check to make sure the environment is clean and sterile.
In addition, you’ll want to guard against theft in any form. Make sure that the owner/operators of any retirement home that you’re seriously considering have been checked out thoroughly. There are certain rules that must be adhered to in reputable homes. If you find a place where this isn’t happening, move on to another one.
The most important thing to remember is to do your research before committing and moving in. That will go a long way in keeping you safe.