by Kiran Manral
WHAT’S HAPPENING
- The outskirts of cities are seeing a rising outcrop of senior citizen townships being developed by builders who want to cash in on the retiree segment.
- Nuclear families, stressed lifestyles and pollution-related ailments make affluent senior citizens opt to spend their twilight years in gated communities with every facility they require, from 24-hour healthcare, to the company of similarly aged people, to homes built keeping their needs in mind (Economic Times, 21 February 2010).
- Folks are buying condos in retirement townships while they still have 15 to 20 years to go in the workforce, with a view to retiring peacefully and living out their old age in dignity.
- Retirement homes and communities need to be close to the primary place of the person’s immediate family.
WHAT THIS MEANS TO BUSINESS
- An entire generation of retired personnel is now eschewing the traditional cultural concept that they would be taken care of by their children once retired.
- Retirement is no longer seen as the end of life, retired people want to live active full lives and not be dependent on their children for their needs and entertainment.
- Retirement homes are also perceived as different from old age homes where the elderly are left to pass their last days.
RESOURCES
