13 Apr How Boomers Are Reinventing Retirement
The way we view retirement today is a lot different than what it used to be.
It’s not just about luxury or relaxation, but it’s more of a question mark for the baby boomers. Do I have enough saved to retire comfortably? Do I need to look for another job? Will my social security benefits hold up?
These are the tough questions that retiring boomers are facing.
These harsh realities are no doubt changing the way builders and developers view the 55+ market. I think it’s fair to say that the boomers are in fact reinventing retirement.
A recent USnews.com article gives us 10 ways that boomers are changing retirement. It is an interesting article and a must read for those involved in the market. Most of their points will have a direct effect on how we should build and market our products. Here are just a few of them.
The length of retirement will last much longer than it has in the past. It is becoming commonplace for baby boomers to live into their 80’s and remain active. I think this will have a drastic impact on what amenities will be provided to boomers.
Unfortunately, retirement is going to require more work than it has in the past. The big question for most retiring boomers is if their savings will hold up. If their financial plans seem grim, they are going to have to jump back into the work force. This is going to affect the way we build and market homes. A lot of these retirees will be working out of the home, which means floor plans need to incorporate work stations or office space and the technology needs to be up to date so residents don’t have to upgrade anything.
I suggest reading USnews.com article. The baby boomer generation is massive and their retirement is going to affect a lot of markets. It’s obvious their retirement years are going to be something new.