The Future of Retirement: Evolving Preferences Among the Elderly Max Wittling
Authors: Isabella Moretti, Ahmed El-Sayed, Tomasz Nowak
DOI: 10.87349/JBUPT/271205
Page No: 18-34
Abstract
This paper explains the differing retirement preferences within the baby boomer generation that will influence demand in retirement related industries. We will summarize and analyze the retirement models growing out of this and seek to identify and envision a retirement structure with a high potential for growth. As average life-spans continue to increase and as the largest generation in history, the Baby-Boomers, enter retirement, demand for retirement related communities, care, and facilities are expected to boom and experience expeditious growth. Alongside this, studies have found that Baby Boomers are aging-in place, which is prompting them, in aggregate, to age-alone at higher rate than any other generation in U.S. history (Janet and Overberg,2018). The result is an unprecedented incidence of seclusion signifying a looming threat to public health caused by new preferences among retirees and a swollen suburban housing market with valuations largely out of reach of younger generations (Dowell and Ryu, 2018). This paper is written with the assumption that, as Baby-Boomers’ retire in greater and greater numbers, the demand for alternative-style social communities/networks is set to boom. We seek to explore the data on this and compare the effectivity of different retirement structures in their ability to combat social isolation, mitigate financial burden, and incorporate aging in place. In areas where data does not exist or is scarce, we will use logically and variably solid speculation on a retirement structure’s effectivity.
