In recent years, increasing attention is being paid to the financial challenges of the impending silver tsunami of Baby Boomers approaching retirement. Simply put, their fiscal outlook is bleak. In regard to retirement savings, too many will have not enough. For the seniors housing and care industry, the time is now to invest in and develop more affordable assisted living (AAL) options. Fortunately, for both the industry and the low- and middle-income seniors of the present and future, there are several organizations and companies doing outstanding work to help address the problem.
Few topics are as emotional and personal as health care. Imagine your child breaking an arm playing football in the backyard, your mother calling to relay some bad news about your father’s health after a visit to the doctor or your sibling telling you about an upcoming battle with cancer. Fear, anger, sorrow, uncertainty and other emotions flood over you instantly. It’s inevitable that everyone will face health care issues in one form or another.
Currently, about 8,000 Americans will turn 65 each day according to the American Association of Retired Persons. Many of the individuals will eventually need some form of assistance in daily living and will entertain the idea of moving into a senior living community where many amenities are offered that make daily living easier than homeownership. As such, seniors housing has become quite the attractive industry for real estate investors and developers seeking new construction, turnaround projects or acquisitions of stabilized assets.
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