5. What are some of the issues regarding work and retirement in late life, and how do older adults handle time and money?
They have to decide what to do with their later years. Do they want to keep working? Can they still work? Can they afford to retire? Should they start another career? Work for short periods of time and live a retirement lifestyle between several jobs? Enter full-time retirement spent in leisurely pursuits, with family or actively engaged in charity or other social calling? And some adults semi-retire by working the same job, but with less hours and divvy their time up in a more balanced manner between work, family and society.
Most will have fixed incomes, which will require financial planning on their part. If an elderly person's income dips into poverty, it is almost impossible to rise it again. This is probably why some people choose to "age in place" - stay where they are because their homes are paid for and they can predict their expenses easier. Others may not have this option due to health or finances. Some will move to be closer to family, especially if they choose a family focused life-style. Some may have to move to some sort of facility because of their health or their neighborhood has changed so much that they need to have more people their age around for social support.
[I think my next class is Families in Crisis.]
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