Thanks in large part to aging baby boomers, the 65+ segment of the population has continually grown and is expected to increase by 32 million between 2010 and 2030. RCLCO takes a look at the retirement changes ahead for this group, which include a decrease in in the use of defined benefit retirement plans.
Economic changes as they relate to retirement plans for this group will lead to later retirement for some, which will also impact their housing choices:
Delayed retirement ages and the rise of phased retirement suggest that lifestyle communities with direct access to existing population centers and employment hubs will be increasingly popular. As a greater number of individuals work past the traditional retirement age, employment considerations will be increasingly important in location decisions for those age 65 and over. For these households, economic constraints could preclude moving to a destination retirement community that has a limited employment base.