Indoor saltwater pools, hydro-massage rooms, Napa Valley's finest wines, sushi chefs….all the characteristics of a five-star hotel, right? Actually, these are the types of amenities you will now find at a growing number of retirement communities across the country.
Indeed, the desire for high-end retirement living is a growing trend. As referenced in a recent Wall Street Journal article titled, “A New Senior Moment,” the National Association of Home Builders reported 21% growth in age 55+ retirement communities in 2012 and is expecting 25% growth this year. The NAHB also notes that percentage of 55+ households in the United States could hit close to 47% this year, up from 42% in 2012. [Click here to access the article]
The article goes on to describe a new concept retirement. A resident living in a 55+ community was quoted in the article saying, “In my day, you counted on somebody taking care of your grandmother or grandfather until they went into a nursing home…I never dreamed that people lived like this.”
Yet, moving to such a community is a significant life decision; often encompassing aspects of financial planning, healthcare, lifestyle, and even scrutiny of the community’s finances. As the number of 55+ households continues to increase, and thus the number of such retirement communities, so will the need for objective information and guidance will also grow. Financial advisors, senior care planners, attorneys, accountants, and other such professionals have an opportunity to become a valuable resource for their retired clients who are considering a retirement living community.
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