Trending Now: Adult CareMeeting Boomer Demands
Baby Boomers are fueling a revolution in adult care.
There are 75 million Baby Boomers in the United States, and 10,000 of them will reach retirement age every day through 2032.i The market for adult care is, pun intended, booming.
As Boomers facilitate adult care for their aging parents, they are also facing decisions around their own post-retirement living scenarios – and traditional retirement communities, assisted living and nursing homes are faced with the need to diversify and evolve to satisfy a wide spectrum of demand from Boomers.
While Boomers are going their own way (or ways) when it comes to housing choices, an underlying trend is the desire for more community and convenience.ii A growing group of Boomers have chosen to enrich their lives by doubling-down on their passion pastimes. This has fueled a surge in niche retirement communities, which offer unique experiences for like-minded retirees from art to access to universities to aviation and equestrian interests.iii Others are less interested in formal arrangements and have begun experimenting with other models for retirement living, such as shared homes, co-housing, and neighborhood-based communities.iv
While these unique offerings remain on the fringes, their growing popularity is a reflection of Boomers’ expectations: they are used to having the services they want, when they want them. Wherever they go, they expect innovation and improved services and amenities. To remain competitive, traditional adult care facilities are beginning to offer high-end amenities, such as wine cellars, wood-burning pizza ovens, and wellness centers and spas – and this is an indicator there is still more to come.v
This revolution shouldn’t come as a surprise. The Baby Boomer generation “has turned everything on its head that it has touched since the 1960s,” says Tom Grape, chairman and CEO of Benchmark Senior Living, and it “won’t be any different” for senior housing.vi
Confused by this ever-evolving target? We’ve got our eyes squarely on the Baby Boomer, and we know who they are and how best to engage with them. Contact us via email or by calling (334) 240-0146 so we can start the conversation.
v Dowd, Casey. “Retirement Checklist: What to Do in 2013” Fox Business 31 Jan 2013
ii Veciana-Suarez, Ana. “Baby Boomers Aren’t Sold on Retirement Communities” Business Insider 9 Feb 2013
iii Bortz, Daniel. “Boomers Flock to Niche Retirement Communities: Stargazers, equestrians, and hippies find like-minded friends and age together.” US News & World Report 12 Apr 2012
iv Mears, Teresa. “How Baby Boomers Are Creating Their Own Retirement Communities: Rather than settling down in traditional assisted living facilities, some are turning to shared homes and cohousing communities.” US News & World Report, 20 Apr 2007
v Dowell, Cassandra. “A New Wave of Hospitality Innovations Hits Senior Living” SeniorHousingNews 10 Aug 2015
vi Gerace, Alyssa. “Baby Boomers are Going to Turn Assisted Living Model ‘On its Head’” SeniorHousingNews 7 Feb 2012