Aging Well
at the beginning of one ’ s career , retirement seems so far away that it is difficult to imagine what it will be like, from where you will live to how you will fill your days. Because it is difficult to picture retirement, including how to afford it, paying for current big-ticket items often takes financial priority. Paying off student loans, paying for weddings or travel, buying a home, and building the kids’ college funds usually top the list. The amount of money needed to afford retirement is always a moving target, depending on one’s age.
For those in good health who have managed to plan and save for retirement, having it all is a possibility. If you fall into this category, you will most likely have the opportunity to design and enjoy your retirement years exactly as you wish. Often, this plan involves the eventual move to a senior living community, and many sought-after communities throughout Dallas-Fort Worth have answered the demand of today’s seniors who want a resort-like lifestyle in retirement that mimics what they have experienced during their travels.
Baby Boomers are next in line to make the move to senior living communities, with Gen X following close behind them. Whether senior living communities are rebranding, remodeling, or in development, they are well positioned to serve new generations of residents who have more defined and vocal demands about how they want their senior years to look; these incoming groups are tech-savvy, educated, well-traveled, and accustomed to choice.
The Good Life
pace with current growth, more than 800,000 new units will have to brought to the market. That’s likely not going to happen, so for a period of time, there will be an excess in demand. This is why, when it comes to planning, your retirement, the sooner the better.”
People often put off moving to a senior living community because they prefer the familiarity of living in their longtime homes and their daily routines, although for many seniors, those routines have become difficult to manage. “People are aging, but they don’t think of themselves as old,” says Patty Sullivan, vice president of marketing and public relations at CC Young Senior Living. “This is a great mindset to have, but it can permeate across multiple levels of care. Senior living communities must embrace and accommodate this thinking to create environments that keep that active aging mentality alive for as long as possible while helping seniors as they age. The goal should be to enrich residents’ lives so they can remain as independent as possible, no matter what age and stage of life they are in.”
Aging in place doesn’t necessarily mean aging in one’s own home; it just means staying in the same place—healthy, happy, and safe—for as long as possible. Crews says when seniors stay in their homes to preserve independence or to save money, they often find they can’t achieve either goal. “There is often no support system at home, and in-home care can be very expensive,” he says. “Most often, once seniors finally make the move to
A stress-free retirement begins with having a plan in place.
The demand for service in senior living communities is high, and it will only continue to increase. Because the nation’s senior population is growing quickly, so is the need for more retirement living communities. Texas is a perfect example, with the third-largest population of older adults in the U.S. The number of Texans 65 and older is expected to double during the next 20 years. By 2040, those over 65 in Texas will triple, and those over 85 will quadruple by 2050, according to the Texas Health Care Association. The U.S. Census Bureau estimates that more than 20% of Texas’ population will be over age 60 by 2030.
“The availability of senior living options will be challenging because there will eventually be more seniors than supply over the next 10 to 15 years,” says Russell Crews, president and CEO of with CC Young Senior Living. “Just to keep the
a community, they say they should have done this sooner. Research shows that residents in a senior living community have fewer hospitalizations, fewer falls, and lower rates of UTIs, dehydration, and physical injuries or wounds. Research also shows that living in a senior living community can extend one’s life up to seven years. These are pretty compelling clinical metrics.”
Choosing the right senior living community takes time, which is another reason to plan early. Industry experts suggest making several visits to each community on your short list, and visiting at different times to get an accurate summary of a day in the life there. If possible, ask for a guest pass to spend the night so you can “try out” the unit, enjoy several meals, try activities, and have time to interact with residents and staff. Have a list of questions ready as well.
BY J ENN I FER SANDER HAYES
“The more educated a consumer is about retirement living, the fewer surprises they will have when the time comes.”
– RUSSELL CREWS, CC YOUNG SENIOR LIVING
“Definitely ask if the community is rental or a buy-in,” says Holly Worrell, lifestyle director with Edgemere Senior Living. “Ask if they offer downsizing assistance or can provide a list of reputable movers that specialize senior moves. You’ll also want to ask about activities. This may sound obvious, but the activities should include more than trips to museums or going out to lunch. For instance, Edgemere offers outings to casinos, dinner boat cruises, dinner outings, and weekend outings. Wellness and fitness programs specially designed for seniors should be offered. Look for luxury amenities, such as a salon, pool, putting green, golf simulator, billiards room, a wood shop, and a theatre. Dining, of course, is very important. Ask if family members and friends who don’t live in the community can dine with you. Ask about transportation to and from the community, as well as maintenance and housekeeping. Ask about referral programs—sometimes you can get money off your rent. All these amenities and perks are what today’s seniors are looking for in a community.”
When touring communities, Worrell recommends taking notice of how prominently activities are promoted and how the community communicates with its residents. For instance, at Edgemere, all residents can download an app on their cell phone to see a daily list of activities, the day’s menu, and put in a work order. “We also have channels on their televisions that
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show everything from the day’s weather to pictures from past events and important announcements,” she says. “Residents can also ask their Amazon Alexa what activities are scheduled for the day. This is a technology-driven world, and more residents want to use the latest technology to get information and to communicate with the staff and each other.”
Christina Christie, director of sales with Highland Springs, an Erickson senior living community, says older adults are thinking about senior living options earlier than ever before. She has offered tours to people in their 60s who want to see how much has changed in senior living communities and to get a realistic idea of how much it will cost so they can better plan for the future. “Highland Springs has been open for 19 years, so we are starting to see a second generation of residents moving in—folks whose parents lived here,” she says. “They are joining our priority list so they can have peace of mind about moving once that time comes. We are adaptable to what our customers are requesting and try to appeal to a variety of age groups.”
When touring a senior living community, Christie recommends looking around to see if residents are out and about, busy and interacting with each other. “You’ll find communities that have these beautiful, shiny spaces but you never see anyone actually using them,” she says. “When people are happy and thriving in their community, they are visibly enjoying the amenities and activities. However, you want the option to choose your activities, whether they are activities you’ve always enjoyed or new things you would like to try. Ask about what is included in the cost. You will learn that there are some communities that are all-inclusive, which may seem appealing unless you wind up paying for activities and services you don’t want or need. Highland Springs is a fee-for-service community, meaning you aren’t asked to pay for an activity or service unless you use it.”
Jennifer Griffin, senior director of outreach with CC Young Senior Living, says most seniors are pleasantly surprised by how quickly they make social connections and become involved in their new senior living community once they make the move. CC Young has a dedicated building, The Point, that is the focal point for resident life enrichment and engagement as well as activities and events for residents and the community at large. “When people are aging at home alone, even if they have family support, they tend to draw
CraftingClocking out from work for the final time is what many workers dream about for decades. The first few months or years of retirement may feel like a vacation, but eventually, a need for structure, routine, and doing something meaningful arises. Retirees may not want a full calendar again but filling a few days a week with work or hobbies becomes appealing.
Jen Grant, a Certified Financial Planner™ with Perryman Financial, says about 15% of her clients who are retirees wind up getting another job. However, with this job, it’s not about making money but doing something meaningful they enjoy.
“Some people retire before the age of 65 and work for health insurance, or some will take a job where they get full-time benefits and work 25 hours a week to bridge a gap in insurance,”
Grant says. “Some will work at a place where they get a discount on products
a Retirement
they already buy anyway, like sporting goods or gardening stores. For some, working is a way to stay socially active. Working just a few days a week provides structure, and it can be a nice way to ease into retirement. If you plan well enough and don’t need the money, you could volunteer to teach or coach, or you can take a part-time job that doesn’t necessarily pay the bills but can bring a lot of passion or excitement to your life. A second or third career doing something you love can be a reward of retirement.”
Grant says some of her retired clients have enough money to not only to fund their retirement, but to gift. Leaving a legacy is important to some retirees, but not all of them have children or family members to inherit their estate. For retirees who want to leave a legacy, she often recommends they volunteer for charities and get involved in the community.
“Be a supporter and find out what resonates with you,” she says.
“Identify what is important so you can decide how you want your life to impact the world. When you are working your daily job, you don’t have the time to ponder big-picture things like this. Most people want to try to spend it all, but if something is left over, what or who would you want to support? What do you feel passionate about? Finding an organization that aligns with your values is another way to make sure your life was well-lived.”
Working with a financial planner is the best way to plan and save for retirement and to know how much money you will need, if you’ll need to supplement your retirement income, and how you can best allocate remaining assets upon your death.
“Planners are there to help you have enough if everything goes wrong, but what if everything goes right and you have more money than you need?” she says.
“Your financial planner can work with your estate attorney to determine how much money you will need in retirement, how much you will need for assisted living and longterm care, and then explore options that will be meaningful to you if there is extra money you can use that leaves a legacy.”
inward and feel isolated and lonely,” she says. “It is always so gratifying to see our residents laughing, having fun, and thriving once they get settled in here. We take health and wellness seriously, and The Point addresses the seven pillars of wellness—environmental, social, emotional, physical, spiritual, intellectual, and occupational wellness. Life expectancy is increasing, but who wants to live past 100 if you don’t feel well? The activities in a senior living community should be designed to help you live longer and better.”
Feeling overwhelmed by downsizing and moving, a fear of the unknown, and cost are typically the primary reasons seniors avoid making a move to a senior living community, but these concerns are usually lifted once the burden of home maintenance and isolation is lifted.
“These fears are all cause for pause,” Sullivan says. “Making this move forces someone to face their own mortality because, in reality, this is likely their last move. Sometimes, their kids and grandkids don’t want to let go of the house where they made their childhood memories. Everyone involved has some element of grief, but once the move is made and new roots are put down, life begins anew."