The trend today given the aging population is for universities to develop continuing care retirement communities on or near their college campuses leading many retirees to consider relocating to these planned developments.
College towns are hot.
Stanford, Notre Dame and Penn State are among the school’s taking advantage of an aging population looking for a retirement that’s anything but traditional. And why not. University towns provide good transportation, healthcare and lots of extracurricular activities to keep you from getting bored.
Today’s retirees are eschewing beaches and golf communities for something different; somewhere with a dynamic vibe that provides intellectual engagement, a vital ingredient to successful aging. Statistics say that cognitively active people almost three times less likely to develop dementia or Alzheimer’s.
For those advisors who aren’t ready to stop working completely, college towns provide an excellent opportunity for part-time employment. With an aging population there will be less young people available to fill service-related jobs. Those 55 and older now represent 22% of the work force, almost 50% higher than a decade ago.
As you age the typical college town provides a level of wellness more easily accessible than in the typical city or town. More importantly, college towns often possess best-in-class teaching hospitals and medical facilities staffed by top research doctors. With convenient health care nearby these university retirement communities are able to provide an ongoing continuum of care.
Surveys suggest that more than half those adults aged 55 to 75 like the idea of retiring near a college campus.
What’s not to like?