Active, independent and hungry for options

Baby boomers and their influence on senior living

Born between the years of 1946 and 1964, Baby Boomers are showing themselves as a force to be reckoned with even as they age. These are the people who fought for civil rights, protested for women’s equality and churned out some really good music. Now they’re ready to think about their next chapter and that includes senior living communities done their way.

According to a U.S. Census Bureau projection, by 2030 the baby boomer generation will have turned 65, making one out of every five Americans retirement age for a total of over 71 million in the “senior” category. They are active, independent and highly educated, working longer in life than previous generations. With that comes more wealth and a lower poverty rate among this generation. In fact, Baby Boomers currently control 53% of the U.S. wealth. Baby Boomers also have a longer life expectancy thanks to advances in healthcare and wellness.

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Traits and insights

How senior communities react to this new cohort of residents is going to be interesting and exciting. Baby Boomers will demand certain things and the senior housing market will have to adapt or be left behind. To help understand how they think and act, here are some insights.

Baby Boomers:
• Still feel youthful even as they age
• Want organizations and people to meet them where they are in life right now
• Are used to an immediate response
• Tend to be socially aware
• Share their experiences and opinions
• Like nice things even if they are on a budget
• Are open to help and engagement
• Manage their own life and like to feel independent
• Know how to access information and compare choices

What Baby Boomers are looking for in senior living communities

This demographic is searching for residences that are both lavish and affordable, depending on their source of income. This all makes for a changing landscape in terms of senior living communities.

Baby Boomers are also looking for several things that previous generations might not have asked for in their “next chapter” residences. They like senior housing that allows them to age in place with a community and friends they know. This means an increase in interest in Continuing Care Retirement Communities.

These seniors also want options. From dining choices to an array of activities to social events, Baby Boomers want to have a lot of opportunities in their community. Technology is important to them as well. Staying in touch with family and friends and the ability to play games or use social media with their electronic devices means that wi-fi is a must. Health and wellbeing is a priority and offering exercise and brain fitness is a positive.

Lastly, they want convenience and community. Baby Boomers like to have easy access to everything from local coffee shops to cultural events to healthcare.

Source:
voanews.com
National Association of Senior Move Managers

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