Wednesday, 30 January 2019

The Latest Retirement Trend

Almost half - 45 percent - of all baby boomers are expected to move to another home in retirement. This retirement trend has lead to the boom of publications dedicated solely to retirement living. While there are still plenty of retirees flocking south seeking warmer weather, the latest trend among these retirees has little to do with climate. Instead of mild winters, retirees are on a quest to find the perfect blend of safety and cultural activity. There are two types of retirement communities that are thriving in this latest trend. Active Adult Retirement Communities (AARCs) are retirement communities where residents are typically at least 55 years old and want to maintain an active independent lifestyle. These communities often offer all the luxuries of an exclusive resort - swimming pools, spa facilities, and private movie theatres. In fact, many AARCs are planned around golf courses and airports (these communities sport aircraft taxiways that start at the end of the resident's driveways.) Many universities now have retirement housing and invite their alumni to return "home." The list of universities sporting these retirement complexes is impressive - Michigan, Cornell, Penn State, Duke, Iowa State, Cornell, Alabama, University of Florida, and Louisiana State among others. These living arrangements offer both benefits to the residents and the university alike. The retirees benefit from the cultural stimulation that college towns offer and some find a place to continue their work - when they may have been shunned by other employers - through teaching classes. The universities benefit from having a ready-made population for its researchers to study aging and university-run hospitals gain new patients. Before relocating to any retirement community ask these questions: 
  • Is it a low crime area? 
  • Is the community close to friends and family? 
  • Is quality health care available? 
  • What are the costs of living and taxes for the area? 
  • What is the weather like? 
  • Does the location fit my lifestyle? 
  • How far away are your favorite activities (i.e. concerts, parks, fishing, golf, museums, shops, religious centers, etc)? 
  • How do I keep up-to-date on the latest retirement trends and news impacting my retirement? 

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