Aesha Desai

ISM – Pd.7

“Retirement Pros & Cons.” Sapling.com, Leaf Group Media, 24 July 2018,

www.sapling.com/8067062/retirement-pros-cons.

• With the gift of retirement, elderly patients get to experience the success of their hard
work and dedication of their many years in a career.
• Many individuals who decide to retire have participated in a career of some sorts and
have been given up their income for these retirement funds that they have set up.
• Many retirees already have funds and money set aside with the intention in mind of
giving them a head start to their retirement life.
• One of the many pros to retirement is that elderly individuals have much more free time
when it comes to what they can accomplish and get done.
• Many retirees take on a new hobby and in most retirement homes, many of the
individuals go on to charity projects to other places where they volunteer.
• Another thing you have is more flexibility with elderly individuals where families can
pretty much have easy access to their family members in these homes.
• Retirement can also be easy in the sense that it allows for many to go and travel to other
places and live their life to the fullest in those years.
• The lack of a steady income can often times scare many elderly individuals when it
comes to making them feel like they have a big decrease in the amount they have to
spend on leisure.
• With the checks coming in from the Government, elderly patients can still obtain
disability checks, social security checks, and etc. (If needed)
• Many retirees find that they are bored after their first ten to twenty years of living the
retired life.
• Many rely on a monthly pension which can also aid in the process for giving them a bit
more freedom in terms of making them feel like they can have a bit of freedom.
• Many graphs showing what the elderly patients can go through to become satisfied with
retirement.
• Many individuals have a higher rate of going into retirement and liking the lifestyle as
well as the freedom that comes with going into retirement.
• Elderly patients often have a greater responsibility when it comes to maintain their own
household and keeping themselves clean as well as fresh.
• Some widows who go into retirement may develop problems in their health and have a
greater chance of keeping up in bad appearances.
• Those very individuals also can develop a bad sense of hygiene when it comes to
forgetting to keep up with simple daily tasks and developing bad habits over time with
improper care of themselves along with the possibility of early risks in bad health.
This source was very beneficial in terms of providing information about the pros and cons of
retirement, the in-depth process of some examples, and the long-term as well as short-term
effects of retirement.
 Aesha Desai
ISM – Pd.7

Anderson, J. (2018, June 27). 8 Things You Didn't Know About Assisted Living. Retrieved from

https://www.aplaceformom.com/blog/things-you-didnt-know-about-assisted-living-2-19-

2012/

• With the offers that come in with retirement, many people decide to go for it due to its
extreme uniqueness.
• Experts over the many years have attempted to design ways to improve the living of
elderly by advancing the technology as well as the environment.
• The environment for elderly has become a priority in terms of making individuals feel
like they are in their own home.
• One of the harder tasks would be to provide an atmosphere to where the elderly patients
are receiving the proper amount of care.
• The first unique aspect of retirement is that many elderly patients is that there are a
number of retirement homes where people can go to for different health reasons.
• Some retirement homes provide care for different elderly patients with different
problems, some receiving lighter care and some receiving harder care for other people.
• The environment might seem like they are very different although, many put up different
tings in their homes to make them feel more at home.
• Every retirement home has their own unique twist to them all up to the main people in
charge of the company or certain area.
• Senior living also allows for pets to be brought by the elderly patients living in the house,
and also letting them be comforted by life-long pets to make them feel more at home.
• The costs of senior living are actually thought of to be very costly however, many senior
living houses are actually cheaper than nursing homes and home health care; all
dependent on where you go.
• Many people think that nursing home health care is actually the way to go although, there
is not much information on which way an elderly individual can go.
• Alongside the elderly patients, you have nursing residents, nursing students, assisted
living residents, and professionals that always stay in the nursing home in terms of people
who stay as the primary care for those individuals.
• Individuals in homes can also choose between homes that offer a different level of
cultural diversity, for example there are homes directed towards individuals belonging to
Asian descent and interest.
• Many senior living homes will also attempt to put elderly couples together as it is their
own wish to go into a senior living home.
This source was very beneficial in terms of giving information about senior living areas attempt
to expand the uniqueness of a home by offering a variety of prices, cultural diversity, different
animals to comfort residents, and most importantly; making the houses feel like home to many
elderly patients since they are spending so much time in the homes and environment.
 Aesha Desai
ISM – Pd.7

Edwards, C. (2017, November 21). How to Shelter Assets from Nursing Home Care Costs.

Retrieved from https://info.legalzoom.com/shelter-assets-nursing-home-care-costs-

23688.html

• In terms of moving an elderly individual’s assets either to, from, or out of an individual’s
home into a retirement home.
• Many individuals take months and even years to efficiently and logically move their
assets into the bank, property, family, and etc.
• Many individuals in the past have attempted to hide their assets from the Government,
and of course that is a criminal offense and one can go to jail for that.
• One of the many options in terms of assets for individuals is to shelter their assets in a
way that align with the laws of the Government and satisfy the retiree themselves.
• One of the many tips that many people give elderly is to give their monetary gifs to your
loved ones before the possibility of becoming sick.
• In addition to giving away monetary gifts, one should also re-design their will as well as
state in an official document what and to whom they are giving away possessions to.
• Another thing that elderly patients can do is transfer any funs they might have to family
or any people.
• Hiring an attorney to draft a life estate for an individual’s real estate, naming themselves
as the life tenant and someone else as the senior remainderman.
• As a life tenant individual who sign that document and get it officiated have the right to
live in their home until death.
• After those individuals pass, the property is transferred to a loved one, which prevents the
State from making a claim against it since that property is inherited and they have in an
official document that an individual gave them.
• Placing liquid assets into an annuity helps an individual qualify for Medicaid covered
nursing home care without having to spend a low amount of money on their assets.
• Transferring a portion of you monthly income to your spouse is a necessity in terms of
moving your money around wisely when you are in a home.
• Sheltering an individual’s money through an irrevocable trust is essentially making an
individual exempt from nursing home costs.
• Placing an elderly individuals’ assets into a “pour-over” trust can protect the money from
a seizure while allowing the owner to access the money in any case until death.
• Having a multitude of belongings can make it harder for many but with the help of a
good lawyer, family, and good advice moving your assets can be easy for elderly
patients.
This source was very beneficial when providing information about how individuals can move all
their assets into a bank, fund, or will so that the family can either oversee it or use it in their
future, giving peace not only to the family; but also, the elderly individual.