Praneeta Mahajan
Hamilton, March 12, 2024
The landscape of retirement villages is undergoing a significant transformation as Baby Boomers, born between 1946 and 1964, enter their golden years. This demographic shift marks a departure from the Silent Generation, born between 1928 and 1945, and brings forth a new dynamic in retirement communities.
Retirement villages, with an average entry age of 75 to 80, are working through the last of the silent generation, born between 1928 and 1945. They are now facing the baby boomers, the largest and most financially successful generation.
According to financial experts, the baby boomers, are the architects of consumer choice, and by and large, they are not grateful. They do not like things that are homogeneous or dated.
Social Engagement and Community Interaction
Baby Boomers, known for their sociable and active lifestyles, are redefining the concept of retirement living. Unlike the Silent Generation, who often embraced a more reserved and stoic approach, Baby Boomers seek vibrant social connections and community engagement in retirement villages. According to retirement community expert Dr Susan Thompson, “We are witnessing a cultural shift where social interaction is not just encouraged but expected in retirement communities. Baby Boomers are looking for a dynamic lifestyle that includes a robust social calendar and various communal activities.”
Technological Integration
The Silent Generation experienced a world without the internet, smartphones, and social media, while Baby Boomers grew up witnessing the digital revolution. This disparity in technological exposure is reshaping the amenities and services offered in retirement villages. Mary Johnson, a technology consultant specialising in senior living communities, notes, “Baby Boomers are demanding advanced technological infrastructure in their retirement villages. From high-speed internet to smart home features, these retirees want to stay connected with the digital world and their loved ones.”
Wellness and Health-Centric Living
The Silent Generation focused on traditional healthcare practices, while Baby Boomers are championing a holistic approach to wellness. Retirement villages are adapting to this shift by incorporating fitness centres, wellness programs, and organic dining options. Dr Emily Harris, a gerontologist, emphasises, “Baby Boomers are more health-conscious and proactive about their well-being. Retirement communities are responding by offering a diverse range of fitness classes, nutritional guidance, and access to alternative healthcare modalities.”
Flexibility and Personalisation
Baby Boomers are known for their individualism and desire for personalisation. Retirement villages are adjusting their offerings to accommodate diverse preferences, allowing residents to tailor their living spaces and lifestyle choices. John Anderson, a retirement community planner, states, “Unlike the Silent Generation, who often conformed to a more uniform living arrangement, Baby Boomers are seeking flexibility and personalisation. Retirement villages are evolving to provide a menu of options for housing, activities, and services to cater to individual preferences.”
Entrepreneurial Spirit
Baby Boomers are entering retirement with a different mindset than the Silent Generation. Many are still active in pursuing entrepreneurial ventures or engaging in part-time work. Retirement communities are adapting by offering co-working spaces, business mentorship programs, and opportunities for residents to pursue their passions. Entrepreneurial retiree Sarah Turner remarks, “I did not retire to sit still. I see retirement as a new chapter to explore my passions and perhaps start a small business. Retirement villages that support this mindset are attracting Baby Boomers like me.”
Why it matters
The proportion of the population aged 65+ years is increasing in the country. Statistics New Zealand estimates that the 65-plus population in 2024 will be at 897,300, comprising 17.3% of the total population, and is projected to grow above one million, nearly 20% of the population, by 2028. This demographic shift is reshaping the demand for retirement housing and care services in the country.
In 2022, one in every six people in New Zealand were in these older age groups. In 2028, one in five people in the population will be 65+ years. By the 2050s, this group could make up one-quarter of the population.
The number of people aged 85+ years is also increasing. Currently, there are about 99,300 people in this age group, and by 2025 there will be more than 100,000. By 2040, this could increase to 200,000 people aged 85+ years.
Changing Landscape
The entry of Baby Boomers into retirement villages represents a departure from the norms established by the Silent Generation. As retirement communities adapt to these changes, they create spaces that cater to the dynamic needs and preferences of the Baby Boomer generation. In the words of Dr Susan Thompson, “The retirement village of today is not the retirement village of yesterday, and that is a positive and exciting development for everyone involved.”
Indian Newslink will soon release a follow-up story on the wider impact of Baby Boomers retiring from the workforce on society’s landscape at large.
Praneeta Mahajan is an Indian Newslink reporter based in Hamilton.
