What do baby boomers want in a retirement community?

What do baby boomers want in a retirement community?

Promote Health & Wellness. As baby boomers age, it probably comes as no surprise that health is on their minds. Physical fitness and exercise are top priorities to 67% of them. But more than just physical fitness, wellness and healthy living are what many seek in senior community living.

Where are boomers moving to?

Since 2000, the oldest baby boomers—those closest to retirement age—have moved into several fast-growing states, including Arizona, Florida, Idaho, and Nevada (see Figure 1). Boomers are also moving into North and South Carolina, Delaware, Georgia, Montana, Oregon, South Dakota, and Utah.

What is baby boomers life expectancy?

When the first Boomers were born, the average life expectancy was 63 years old. Today, Boomers can expect to live to almost 79 years.

Why are baby boomers living longer?

As technological advancements have improved our health and life expectancies, Baby Boomers are one of the first generations to experience a longer lifespan. Higher life expectancies mean more opportunities to be active and truly enjoy the later years in life, which is exactly what Baby Boomers are doing.

What do baby boomers want in a home?

When discussing favored features for their new home, Baby Boomers want similar amenities to other buyers such as a laundry room, hardwood flooring, an open floor plan and outdoor space, says Emrath. He says one difference is that older buyers prefer one-level living and are less interested in having a basement.

Are baby boomers buying homes?

Not all baby boomers are opting to sell their large homes, however. Instead, many are choosing to age in place. A 2019 Chase survey shows 76 percent of baby-boomer respondents own their home and 88 percent are looking to renovate.

How many baby boomers Cannot retire?

45% of baby boomers have no retirement savings. One study reports that close to half of them have failed to save for retirement. Of the 55% who did have savings, 28% have less than $10,000. This would mean half of the retirees will have to rely on their Social Security benefits.

Why are baby boomers so rich?

In large part, Boomers have benefited from soaring real estate values, a rising stock market and strong job market, while stifling student loan debt and more limited job prospects make buying a home or building a portfolio a pipe dream for many Millennials.