Choosing Your Next Chapter

by Mimi Goodyear Dossett

UNEXPECTED EVENTS often change or accelerate trends in business and lifestyle. For us in Southeast Louisiana, Hurricane Katrina in 2005 followed by the world financial crisis and its corresponding real estate crash in 2008 were dramatic game changers. Add to that the stress of the COVID-19 pandemic year, and you have a lasting influence on the value of home—and the way we live, work and retire.

In 2008 and the several years that followed, a large group of middle and upper management lost their jobs, and millions of Americans lost their homes. The result was a generation of the later baby boomers who had to recreate careers and lives, start new businesses, and “downsize” expensive lifestyles. Interestingly, in the years prior to the crisis, those people would be aging into retirement now. Now, many of us in our 50s, 60s and 70s don’t plan to retire in the traditional sense. Instead, we have decided not to put off dreams and goals for that post-work life. People started thinking, “Well, if I can’t retire anytime soon, I might as well live in a place I love!”

Today, flexibility and the ability to work from home rank right up there with health benefits and salary. We’ve all realized the importance of family and connectedness. Living in a place where you have a great environment, amenities and the ability to enjoy your free time and your family is paramount.

The lakes at Money Hill provide a beautiful backdrop for the golf course.

Now, post COVID, not only is where you live an important factor, but people are finding that their homes need to be useful for a variety of purposes and functions that were not necessary before. Home gyms, home offices, guest quarters, outdoor kitchens and improved family entertaining spaces are some of the amenities that are becoming essential. Many are purchasing second homes that allow them to get away but still be in the comfort of a private residence. First and second homes are becoming gathering places for multigenerational families, and low interest rates are encouraging people, even those in their 30s and 40s, to take the plunge on a vacation property!

There are large migrations from states with high income and property taxes to states with more friendly policies for business owners and older Americans. Another migration trend that has been good for us in the South is people relocating from harsher climates to milder ones. With all this moving around, opportunities to build community and meet new people often revolve around activities, particularly sporting activities, for this new generation of “not ready to quit working or playing” individuals.

Golf, biking, tennis, pickle ball, hiking, and gym workouts are just a few of the ways seniors are spending their time. In addition to fishing and canoeing, it is now common to see kayaks and paddleboards out on the waterways. All these activities are more than just fun hobbies and a way to make friends; they are ways that older Americans are staying healthy and living life! Enjoying free space and the outdoors is more appreciated than ever, and people have come to realize the value of their health as well!

As the pandemic winds down, it is exciting to see fun events and activities starting to resume. We are social creatures, and hopefully the parties and festivals and concerts and sporting events will come back quickly and better than before. We will all be ready to get back to “public” life, but COVID has accelerated trends that were already advancing. It’s great being a senior with the mobility to travel and see family, the flexibility to balance work and play, and the ability and opportunity to love where you live! COVID gave us a chance to evaluate the things that are important and to make the most of our time and opportunities. If you don’t feel you’re living your fullest life, consider moving, traveling or taking up a new active lifestyle hobby!