The baby boomers generation, comprised of about 90 million people, are beginning to head in retirement, but where are they headed?
In this week’s edition of the AZ Business Magazine’s podcasts, we’ll take a look at not only where the baby boomers will take up residence, but also how this transition into retirement looks, as well as the economical impact it can have in Arizona.
Starting back on January 1, 2011, 10,000 baby boomers will reach the age 65 every day for the next 19 years.
But the baby boomer generation is beginning to redefine how the public sees traditional retirement. According to a survey from the AARP, about 40 percent of baby boomers plan to continue to work until they drop.
It is evident that this new approach to retirement is filled with a generation of citizens looking to live an active lifestyle, and retirement communities filled with amenities can provide exactly what baby boomers are looking for.
With Arizona’s ideal weather and land to build on, new communities will being to take advantage of this new, in-demand market.
But how does this help our economy?
Baby boomers will begin to move to the Valley to call it home for retirement, and while doing so, they will begin to spend money, putting more into our economy; more people equals more demand for businesses and goods.
But what happens when the baby boomer community is gone? Will we still need these communities that were built to meet their needs? Or will businesses and communities have to close up shop once the demand is done?
This week, I spoke with Deborah Blake, vice president of marketing for Robson Resort Communities, about why the baby boomers are so interested in these active, adult living lifestyle communities and what we can expect to see here in Arizona as a result of that.
Also, Joe Scarp, owner and broker of Better Homes and Gardens Real Estate Phoenician Properties, called into the podcast to shed some insight on what kind of real estate trends we can expect here in Arizona and how the baby boomers will provide an impact on the state’s economy.
Hit play below to tune into this weeks podcast about the baby boomers generation, and don’t forget to leave a comment!