According to Immersion Active, the baby boomers collectively had a yearly disposable income of about $2.4 trillion as of 2015, which represented 70 percent of the national disposable income. As more and more baby boomers are approaching old age, the senior and assisted living industry is quickly making adjustments to meet the needs of this affluent generation that expect nothing but the best. Here is a look at how the baby boomers are revolutionizing the assisted living industry.
Emphasis on Lifestyle Offerings
The affluent baby boomers are able to pay for the best care and health services, and they want to make their lives in assisted living communities as comfortable and enjoyable as possible. Unlike the previous generations, baby boomers will not be moving to assisted living facilities for medical purposes alone. Instead, they will be choosing assisted living facilities based on lifestyle choices. In their efforts to attract more baby boomers, some senior and assisted living service providers have upgraded their facilities to include indoor pools, fitness centers, gardening areas, walking paths, and putting greens. High-end assisted living communities are also sprouting across the country.
The assisted living industry is using a different language to market their services to baby boomers. Baby boomers are typically age-sensitive, and they prefer to be reminded of their achievements and future, rather than their age. Assisted living service providers are minimizing the use of words such as “senior”, “elderly”, “aged”, and “retirement” in their marketing campaigns. For instance, many of them are using the term “life plan communities” in place of the once commonly used term “continuing care retirement communities”.
Customized Amenities And Specialized Care
Being an affluent generation, baby boomers have a preference for customized services and facilities. Many assisted living communities are responding to this demand by offering a wider selection of programs and amenities to suit different lifestyles and interests. In addition, they are also providing increasingly specialized care for baby boomers, giving them easy access to counselors, psychiatrists, physiotherapists, massage therapists, geriatric care managers, personal trainers, nutritionists, and even gourmet chefs.
When it comes to selecting an assisted living community, baby boomers will more likely make their decisions based on the amenities, activities, privacy, and independence offered. Now, they are spoiled for choice as the assisted living industry is reinventing itself to cater to their every need and preference.