Retiree Trends

Research conducted by nationally-known senior living experts, ZA Consulting of Philadelphia, suggests that today's retiree is more active, more in control of their own lives, and more selective when it comes to the surroundings he or she wants to design for their later years. Based on local surveys and focus groups conducted by the same firm, Cleveland area residents agree.

Today's retirement generation is more sophisticated and informed, with greater access to vast amounts of information. This generation has different values and priorities, as well as lifestyles, than their predecessors. It's also the healthiest, longest-living generation in history.

ZA Consulting research shows that 95% of Americans over age 65 live independently, and that number rises each year.

"Our research shows that older Americans are looking to reduce their hassle factor and increase time spent relaxing or with the grandkids," according to Barbara Kleger, Director of ZA Consulting. Besides convenience, Kleger reports, the quality of the social life is also a selling point for these senior housing developments. "They are getting together with people their own age, with similar life styles and no kids.

Hamlet Village also commissioned a local study on retirement living, asking 30,000 Cleveland area households for their opinions about retirement living. Hamlet President Marc Benson explained the goal of the local research: "We wanted to know if there was anything missing in the array of options available to Cleveland area residents and their families."

After analyzing results of the local survey, the Hamlet management team created what research suggests is a unique offering for northern Ohio. "We want to combine the gracious living that has been the Hamlet Village reputation with new choices for today's active retirees. These new options will allow more flexibility, more favorable financial terms, and allow residents to avoid the possible financial penalties of an entrance fee community.

"What the research told us is that there's an audience here in metropolitan Cleveland that hasn't found the retirement option suited for them yet. And that's where Hamlet Village in Chagrin Falls is building its new reputation," Benson explained. "People will be able to move to Hamlet, knowing they can avail themselves of the complete spectrum of services, programs and living circumstances they might require over the rest of their lives. But they can move in without the large entrance fee and life-long commitment that's needed for more traditional continuing care retirement communities."

In keeping with information gleaned from national studies, Hamlet's research in metro Cleveland yielded similar results: citizens in the area listed four amenities most important to them when considering which retirement community they might choose: 1) a community restaurant; 2) a library; 3) a fitness center; and 4) walking trails.

Local residents also listed their preferences as to financial arrangements, which provided significant direction to Hamlet's management team. According to the metro Cleveland survey, 33% of the respondents stated that a monthly rental basis would be preferable to them over the entrance fee requirement. Another 17% expressed an interest in an option to purchase an apartment, "condo-style." Hamlet plans further research to study the interest in condo-style apartment living in Chagrin Falls.

Many active retirees want more time to enjoy life, without burdens of maintaining and repairing a large home. Their children are grown, the house is too big, and they want to focus on their new adventures, rather than worry about mowing the yard or fixing a leaky faucet. Although some struggle with the idea of giving up the family homestead, the realization eventually dawns that "memories are portable" - the best parts of the family history are kept inside the human heart.