Older Adults Need to Be Courted
In this decade, the population aged 65 and over will grow by 36 percent
to almost 55 million, according to Census Bureau projections. It’s not
just that there are a greater proportion of older Americans—people are
also living longer: In 2011, the 65-74 age group was about 10 times larger than in 1900, but the 85+ group was 40 times larger.
By 2017, the U.S. adult population age 50 and older will control 70 percent of the country’s disposable income. Even before boomers started retiring, studies in several states showed that in-migrating retirees can help lift local economies. A 2006 study in Georgia, for example, estimated that if the state had held onto just 10 percent of its migrating retirees in 2007, it would have experienced significant growth in jobs, personal and disposable income, and net state revenues. And a 2011 study in South Carolina found that an influx in retirees in two counties was associated with wage growth, a rise in home values, job growth, and higher rents.
With that in mind, the competition among cities for retiree dollars is heating up. States like Mississippi, Texas, and North Carolina have set up programs to designate cities and towns that meet certain criteria—such as offering quality medical care and recreational opportunities for seniors—as “certified retirement communities.” Ten cities are making changes required to qualify for AARP’s list of “age-friendly communities.” Bloomington, Indiana is designing a “Lifetime Community District” that has retiree-friendly features like access to transportation, basic and preventive health care, and other services. Other jurisdictions are launching their own marketing campaigns—Lawrence, Kansas for example, is budgeting $60,000 to $80,000 a year for an advertising blitz to convince retirees to settle there.
One focus of planners’ efforts is helping older adults get out and make connections, which is especially important for retirees who have moved away from family and friends. The Chamber of Commerce in Oxford, Mississippi, one of the state’s certified retirement cities, came up with a “newcomer’s club” that holds monthly events for relocated retirees and others, says Margaret Wylde of ProMatura, a market research firm specializing in consumers age 50-plus. In Auburn Hills, Michigan, the city’s recreation department and department of senior services are collaborating to get older adults out with concerts, potlucks, and fishing competitions, says Auburn Hills’ senior services director Karen Adcock.
Question is what is your city or state doing to keep you?
By 2017, the U.S. adult population age 50 and older will control 70 percent of the country’s disposable income. Even before boomers started retiring, studies in several states showed that in-migrating retirees can help lift local economies. A 2006 study in Georgia, for example, estimated that if the state had held onto just 10 percent of its migrating retirees in 2007, it would have experienced significant growth in jobs, personal and disposable income, and net state revenues. And a 2011 study in South Carolina found that an influx in retirees in two counties was associated with wage growth, a rise in home values, job growth, and higher rents.
With that in mind, the competition among cities for retiree dollars is heating up. States like Mississippi, Texas, and North Carolina have set up programs to designate cities and towns that meet certain criteria—such as offering quality medical care and recreational opportunities for seniors—as “certified retirement communities.” Ten cities are making changes required to qualify for AARP’s list of “age-friendly communities.” Bloomington, Indiana is designing a “Lifetime Community District” that has retiree-friendly features like access to transportation, basic and preventive health care, and other services. Other jurisdictions are launching their own marketing campaigns—Lawrence, Kansas for example, is budgeting $60,000 to $80,000 a year for an advertising blitz to convince retirees to settle there.
One focus of planners’ efforts is helping older adults get out and make connections, which is especially important for retirees who have moved away from family and friends. The Chamber of Commerce in Oxford, Mississippi, one of the state’s certified retirement cities, came up with a “newcomer’s club” that holds monthly events for relocated retirees and others, says Margaret Wylde of ProMatura, a market research firm specializing in consumers age 50-plus. In Auburn Hills, Michigan, the city’s recreation department and department of senior services are collaborating to get older adults out with concerts, potlucks, and fishing competitions, says Auburn Hills’ senior services director Karen Adcock.
Question is what is your city or state doing to keep you?
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