Baby Boomers give a whole
new meaning to the idea of retirement
Newswise — They demanded cultural
and political change. They influenced new artistic genres and styles
of music. Now America’s restless baby boomers, the first of whom are
entering their retirement years this year as they turn 60, are
changing the way Americans retire.
Not willing to settle for
facilities that do little more than house people as they get older,
today’s retiring baby boomers, who were born from 1946 to 1964, are
demanding top-notch retirement facilities that fit their picture of
what the golden years should be: relaxing, staying active and
enjoying a more luxurious lifestyle.
“The next generation of retirees
will be more demanding from the ‘me’ perspective, which is much
different than the World War II generation. The new age of
retirement is all about keeping active and enjoying life – the
idealized concept of what retirement should be,” says Raymond
Goodman, chair of the hospitality department at the University of
New Hampshire. Goodman also is chair of the Board of Trustees at two
continuing care retirement communities, RiverWoods at Exeter and its
newest neighborhood, The Ridge at RiverWoods.
Retirees no longer will settle for
a few board games and shuffleboard in a community room to keep them
busy. Their list of must haves now includes prepared meal service in
a restaurant environment, exercise equipment and aerobics rooms
(some with personal trainers), pools and whirlpools, walking and
hiking trails, wellness programs, wood-working and hobby shops,
movie theatres, golf courses, billiard and game rooms, computer
labs, libraries, music rooms, creative arts studios, apartment
maintenance and repair, courtesy transportation, and housekeeping
and linen service.
Regarding health care, the
retiring baby boomers demand a continuum of care that incorporates
all levels of service from one facility: independent living units
and an on-site health center with assisted living facilities,
skilled nursing facilities, specialty care and memory support.
As delightful as it sounds, the
new retirement lifestyle will not be inexpensive. To that end,
Goodman advises those planning for retirement to invest in their
current housing now. “Continue to upgrade it so that your home
resells to the next generation at the highest price the market will
allow. You then can trade the equity of your home today for the
entry or endowment fee for a full-service continuing care retirement
community,” he says.