When it comes to retirement and senior living options, a recent study by PrivateCommunities.com found:
- Most retirees prefer to buy versus rent, and that they want to purchase a home in an amenity-rich, master-planned lifestyle community.
- Eighty percent expect to pay at least $250,000 (for those whom that is an option).
- They are seeking homes ranging from 1,000 to 3,000 square feet.
- Their top priorities in order include: open floor plans, low maintenance, one-level, upgraded kitchens, energy efficiency, upgraded baths, and access to outdoor recreational activities.
- Their top priorities in terms of types of communities were listed as: active 55+, gated, and golf, in that order.
- Respondents indicated enjoying traveling, food and wine, spending time with family, socializing, sports, pets, theater, hobbies, education and learning, volunteering, and church activities.
Just some fun facts... Do you relate?
The sheer number of people who are, or will be, aging means we need to pay attention to their needs… Approximately 47 million people age 65 or older live in the United States, according to a 2017 Census.Gov estimate. The Population Reference Bureau projects that in 2060 nearly 100 million Americans will be 65 or older. The group will more than double over 40 years.
A contributing factor is longer lifespans… The average American life expectancy is 78 years, according to the National Center for Health Statistics. Reaching 80 years of age means you’ll likely live another eight to ten years on average, according to the CDC.
Many older adults are concerned that they will outlive their social security income, investments and savings. They are also fearful they will fall and injure themselves, since many homes have trip hazards. Worrying about money and falling doesn't bode well for quality of life. Generally, though, unless there's a crisis, most people fail to plan in the area of housing. A crisis often precipitates a move to a facility, when there may have been better options, given time. Going to a facility sets into motion a decline in finances, that can make health issues worsen.
Conservative monthly figures for independent living range from $1500-$2500; assisted living from $2500-$5000; and long-term care from $7500-$10,000. In Columbia, Mo., there are independent living communities charging $8,000 per month! From experience, we have seen many people opt into independent care facilities prematurely only to quickly decline and move through the advanced stages of care quickly, then linger in the most expensive option of long-term care. Of course, by that time, resources will likely have been depleted, and options limited by Medicaid, meaning loss of choice in housing and nothing left for heirs.
Contrary to popular belief, most older adults do not live in "nursing homes." The 2010 US census found that 3.1 percent of seniors were nursing home residents. The top reasons people move to nursing homes include: 1) Lack of Social Support, 2) Crisis, 3) Lack of Proactive Planning, 4) Fear of Unknown, 5) Unaware of Options, and 6) No Advance Care Planning. Rather than move to an independent living community, many seniors are choosing to plan for in-home care, where the need for such supports is lessened by healthier lifestyles. In-home care is about $30 per hour, and many older adults can manage with minimal supports. Plus, there are numerous concierge-style services for all kinds of needs and lifestyles. Of course, living in an active community aligns with health promotion and results in cost savings and increased quality of life.
So, where to live... If we want to stay at home but the home we're in isn't set up well, what do we do? Retrofitting the home may not make sense, financially or otherwise. The issue becomes one of available housing that supports aging in place. Many homes that worked for raising children are not appropriately set up for easy maneuverability should there be a knee replacement, need for crutches or wheelchair access. With the increasing number of people approaching and passing the age 55+ mark, there is actually a housing shortage. An active 55+ community is the answer. This is one of the "Why's" behind Linkside!
According to the World Health Organization, Healthy Aging is defined “as the process of developing and maintaining the functional ability that enables wellbeing in older age. Functional ability is about having the capabilities that enable all people to be and do what they have reason to value. This includes a person’s ability to: 1) Meet their Basic Needs, 2) Learn, Grow and Make Decisions, 3) Be Mobile, 4) Build & Maintain Relationships; and 5) Contribute to Society.”
The Alzheimer’s Association research tells us that there are four major components to healthy aging for our brain and body which can likely prevent or delay onset of dementia: 1) Health & Exercise, 2) Diet & Nutrition, 3) Cognitive Stimulation, and 4) Social Engagement.
Considerations for remaining at home (to age "successfully or intentionally”) include: 1) A Personalized Plan for Wellness, 2) Active Body, 3) Healthy Eating, 4) Active Mind, 5) Social Health, 6) Thorough Annual Screening with Aging Specialist, 7) Ready-Made List of Potential Services Desired/Needed & Preferences, 8) Advance Care Planning Documents and Discussions, 9) Growth Mindset, 10) Embracing— rather than bracing for—changes; and 11) an Adaptable Environment (eg Linkside!).
There are a thousand reasons why Columbia is a great place to live and retire! Here are just a couple:
Forbes named Columbia one of the “Best Places to Retire” in 2019 — This is a national ranking of the top 25 locales that offer both affordability and a high quality of life for those who are retiring.
Milken Institute named Columbia one of the “Best Cities for Successful Aging” in 2017— This is a national ranking of how well cities are serving the needs of the nation’s growing population of mature adults, enabling them to age productively, securely, and in optimal health.
Linkside at Old Hawthorne is a perfect option for you, if you are seeking home ownership in an active 55+, resort-style, gated community. Linkside provides you with an opportunity to invest your money in a real estate asset that is designed with you in mind, comfort, convenience, and luxury. It gives you a way to limit your monthly expenses and preserve your resources. And, since it is an investment, it has lasting value for your heirs. Plus, the close connections with your neighbors will make all the difference! Truly, Linkside is where home and lifestyle meet! Nestled within the championship golf community of Old Hawthorne, our villa and veranda homes feature award-winning, aging-in-place designs, superior construction and carefree living! Enjoy fine dining, year-round activities and community connections. Golf, swimming, tennis and fitness options also available. Conveniently located near major highways, healthcare, downtown, shopping, restaurants, trails, and more. Do more of what you love at Linkside!