I usually let them enjoy their hobbies and keep in touch with children, grandchildren, siblings and other relatives and friends. Some elders enjoy gardening and try to complete the gardening collection while some enjoy fishing and try to complete the fishing collection.
Elders who are into cooking try to learn every recipe in the game while elders who are loving dogs try to teach the dog all the tricks in the game. Elders who continue their creative hobbies will have at least one of the art piece put in museums or one of their books put in the library. Elders who keep working will eventually retire and elders who are living with their children will take care of grandchildren.
I play with many elders. When they are nearing their death, I make their hair white, add more wrinkles and change their walk style to sluggish. When sim becomes an elder, then I go to CAS and dress them differently and change their walk style to normal (which is different for elders).
In short, elders in my game learn new skills, complete collections, try new things, keep in touch with children and take care of careers (if not retired) or grandchildren (if in the same household).
