Is the senior living industry prepared for the 88 percent of Baby Boomers that haven’t yet been enticed to consider a community? And how will it cater to the needs of the underserved middle market? This month, we examine the current outlook for middle-market Baby Boomers, as well as some of the challenges they present and solutions for meeting their needs.
1. Middle-Market Boomers Lacking Retirement Savings
Here’s a sobering statistic: 79% of middle-income Baby Boomers have no retirement savings. Even more sobering, only 4% of the remaining 21% have more than $100,000 in savings.
McKnight’s Senior Living presents the key findings of the latest survey on Baby Boomer finances conducted by The Blackstone Group.
2. Demand Will Be There, But Supply Won’t Be
A rapidly aging population, rising operating costs and frozen federal subsidies are combining to form the imperfect storm for Boomers in the middle market. With the impending “silver tsunami,” who will be able to capitalize on strong demand with an innovative approach?
Find out more in this Boston Globe article.
3. Multi-Brand Strategy Makes Its Way to Senior Living
Could a multi-brand strategy become the next big trend in senior living? Industry experts predict providers will follow the examples of Marriott and other global companies by creating a family of brands catering to the low-income, middle-market and high-end segments.
Find out what the experts have to say in this Senior Housing News article.
4. Boomers Are More Prepared for Death Than Life
Eighty percent of Baby Boomers have begun planning for when they pass away. And yet, less than a third have planned for their retirement care needs.
Learn why Baby Boomers are reluctant to plan for their long-term care needs in this Market Watch article.
5. “Affordable” Housing Isn’t So Affordable for San Francisco Seniors
A flawed formula is making “affordable” housing unaffordable for San Francisco’s seniors. Is the city’s affordable housing infrastructure emblematic of a much larger problem on the national level?
Find out more in this San Francisco Examiner article.
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