Residential

Baby Boomers look for flexibility when it comes to retirement

Retirement

Despite our lives being on hold due to the Covid-19 pandemic, big decisions about our futures must still be made and this includes the older generations making choices about retirement.

Making the decision to move to a new home can be one of the toughest aspects of retirement. It is hard to consider moving out of your family home where you have created lifetime memories. However, a transition is inevitable when it comes to seniors either choosing full-blown retirement or, deciding to adjust their lifestyle to allow for more flexibility.

Today, the Baby Boomer generation is looking towards retirement. According to Prieshka Taylor, Head of Marketing for Evergreen Lifestyle Villages, these retirees are “confident, optimistic, independent individuals who value innovation, self-reliance, accomplishment and change.” Taylor explains that they are still living active lives and showing no signs of slowing down:

We are seeing a trend in the retirement industry in terms of which the Baby Boomer generation wants more flexibility from their retirement options. They want to lead active lives, and many of them still work in some capacity and want to be able to downsize in stages.” 

The traditional retirement home model – the aged home – does not fit these requirements. Instead, the focus has shifted towards matching the lifestyle of the modern retiree with their personal life stages.

Demand for modern retirement estates

It is for these reasons that retirement lifestyle estate developers are providing villages with far more flexibility to meet the needs, requirements and constraints of today’s working retirees,” says Taylor. 

“Developers must stay on the ball to ensure retirees feel comfortable about moving into a new environment, knowing that they have everything they need to live a full and active life.” 

One of the main concerns of retirees is financial security.

Technology is essential

Many retirees choose to continue working and may do so until well past sixty-five. Up-to-date technology in retirement villages allows them to work from their retirement homes. This option works well: the household-maintenance burden of staying in the family home is removes and the older person can live life as they choose to do so.

“Many of our residents are working well into their 70s, entering this phase with a need to connect with their world,” says Taylor. “They want to be active, fit and productive. The Baby Boomer generation is looking for an environment that enables them to fully enjoy their years, to function effectively and to remain vital.” 

Flexibility is key

This new wave of retirees is not looking to go straight from full-time work to a traditional retirement model; modern retirement estates meet this challenge by offering mature residents the adaptability to downscale their accommodation according to their changing needs over time.

Access to amenities

Overall, the benchmark for a retirement offering should be a place where lifestyle meets secure living in an environment that combines residential, recreational, and quality healthcare facilities so that you can truly enjoy the best years of your life.