Exploring Senior Living Options for Baby Boomers and Beyond
Barbara Manning | April 24, 2024
Baby Boomers
Barbara Manning | April 24, 2024
Baby Boomers
As the population of older adults in the United States continues to grow at a rapid pace, it's becoming increasingly important for individuals to plan for their next home, especially for those in the Baby Boomer generation. With the aging of the Baby Boomers and advancements in healthcare leading to longer life spans, the need for suitable senior living options has never been more crucial.
According to a study by the U.S. Department of Health and Human Services’ Administration of Aging, by the year 2030, the older population, defined as 65 years or older, of the United States will more than double to 70 million. This growth is expected to reach about 20% of the population, with certain regions such as Santa Clara and San Francisco experiencing even more significant increases in the 65+ age group.
So, what are the options for those considering their next home in their late sixties or early seventies? Let's explore some possibilities:
- Making modifications to your current home to accommodate aging needs, such as widening doors, installing smart home technologies, and decluttering.
- Hiring assistance for daily chores and staying socially active within the community.
Purchasing a home or condo in a community of older adults, where residents can live independently and enjoy companionship with peers.
Similar to over 55 communities, but with additional services such as provided meals, group activities, and social gatherings. However, there may be restrictions on selling the property.
Communities that provide meals, housekeeping, and, in some cases, skilled nursing facilities, with more structured regulations and monthly fees.
Offering various levels of support, from independent to assisted living, and sometimes including facilities for advanced memory care. These communities are often regulated and involve initiation and monthly fees.
Deciding on the best option depends on various factors, including physical and financial capabilities. It's essential for individuals to consider their needs and preferences carefully when planning for their next living situation.
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