Retirement Place is a term used to describe a place where people can go to retire and live out their later years. The two most common solutions for this term are BED and RESTHOME. BED stands for Board and Care Home, which is a type of residential care facility that provides housing and personal care services for seniors. RESTHOME stands for Rest Home, which is a type of residential care facility that provides housing and personal care services for seniors who need more assistance than what is provided in a Board and Care Home. Both types of facilities provide a safe and comfortable environment for seniors to enjoy their retirement years.