Military Officer - September 2006 - (Page 54) Exercise Your Options Baby boomers have never been good at settling for less, so few expect their penchant for living well to abate in retirement. They have benefited from good economic times, emerging as one of the most affluent generations in America’s history. An Urban Institute report prepared for AARP revealed that early boomers (those born between 1946 and 1955) will have an average household wealth of $859,000 at age 67. Current retirees of the same age, however, have about $558,000 in wealth. Because of boomers’ large num- thousand-square-foot home fitted with high-end features such as cathedral ceilings, enlarged windows, customized kitchens, and elaborate outdoor landscapes. Some developers are responding to the demand for luxury living designed for seniors. “There are lots of different price points, from $300,000 to $3 million,” says Regnier of these retirement community homes. One example is a New Jersey developer’s active adult communities for those 55 and older, with home prices typically ranging You’ve paid your dues. Now enjoy the privileges. With 16 different floor plans, activity-packed days and Fort Belvoir next door, you’ll have some tough decisions at The Fairfax. Unique financial options that may reduce future health care costs Assisted living, skilled nursing & rehabilitative care options A new memory care neighborhood Call 703.799.1200 to choose a five-star lifestyle at the area’s largest retirement community for military and Foreign Service officers. Then and Now: What Boomers Are Looking for in Retirement Yesterday’s Shuffleboard Golf Bingo Potluck dinners Dances Today’s (Same as yesterday’s with the addition of:) Yoga Kickboxing Tai chi Spa services Fitness centers with personal trainers Continuing education courses Volunteer opportunities Travel THE FAIRFAX 9140 Belvoir Woods Parkway Fort Belvoir, VA 22060 www.sunriseseniorliving.com www.arrfp.org 54 MILITARY OFFICER SEPTEMBER 2006 bers and relative wealth, experts in retirement living expect they’ll be presented with more retirement options than any previous generation. “They want choices; they are not going to settle for what’s out there,” says Drue Lawlor of the American Society of Interior Designers’ Council on Aging. A fair number of boomers want to pursue a more comfortable lifestyle in retirement. Many are selling the homes they raised their children in to buy newer, more luxurious residences. According to Victor Regnier, professor of architecture and gerontology at the University of Southern California, it’s not uncommon for those approaching retirement age to acquire a several- from $300,000 to $500,000 and with models including such upscale features as Viking appliances, ceramic tiles, and granite countertops. In states like Arizona and New Mexico, where housing is still relatively inexpensive, you can find homes in agerestricted communities for as low as $165,000, he says. Other developers offer affordable luxury in retirement living, building amenity-rich, 55-and-older communities. While sprawling developments with thousands of homes still are popular, according to Caryn Klebba, spokesperson for a nationwide retirement community developer, her company has begun building smaller communities throughout the U.S. to respond to http://www.sunriseseniorliving.com http://www.arrfp.org
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