Varsity and our Roundtable attendees were treated to a special guest recently when we were joined by Dr. Sara Zeff Geber, the nation’s foremost authority on solo aging and the author of Essential Retirement Planning for Solo Agers.
Dr. Geber shared a closer look at solo agers, including an analysis of who they are, their population, key statistics about them and what solo agers want. Here’s a closer look at some highlights from her presentation:
THE SOLO AGER POPULATION
The solo ager population is not as small as some might think. Dr. Geber referenced data from a 2021 U.S. Census Bureau study, which helped illustrate the size of this demographic.
Focusing on the childless population, she explained that, among the generation preceding baby boomers, about 10% (around 2 million people) were childless. However, this percentage increased significantly with the baby boomer generation, especially among late boomers, where nearly 20% (one in five women) did not have children.
THE SUPPORT SOLO AGERS ARE MISSING
Dr. Geber’s research identified six key areas where adult children commonly support aging parents, such as residential decisions, real estate management, and financial and emotional support.
Solo agers, without family support, face challenges managing these tasks independently. She cited a friend whose mother, despite moving to a Life Plan Community, still needed her children’s help with real estate and personal matters. Dr. Geber emphasized that Life Plan Communities can fill these support gaps for solo agers, assisting with real estate and financial decisions, making them an appealing option for those aging without family assistance.
WHAT SOLO AGING RESIDENTS WANT
Research into solo agers’ housing priorities revealed a strong focus on community and social connections, which they value even more than the average baby boomer.
Dr. Geber advocates for senior living communities as an ideal solution for solo agers, advising against aging in place. She emphasized that communities catering to solo agers’ unique needs will be more attractive to this demographic. Additionally, she noted that many solo agers are well-qualified for senior living options, further supporting her belief in these communities as the best choice for aging independently yet with ample support.
Varsity’s Roundtable is a weekly virtual gathering of senior living marketers and leaders from across the nation. For updates about future weekly Roundtable gatherings, submit your name and email address here.
