Retirement Living News

May 2007

HEADLINES  (Click on headline to read story)

• Arid Western States Seek Solutions to Growing Drought
• New Survey Identifies Most Popular Recreation Activities 
  for Retiring Baby Boomers
• Report Finds Boomer Executives Making Career Changes 
  When Facing Retirement
• New MetLife Mature Market Institute Booklet Offers 
  Healthcare Advice for Retirement Planning
• Retirement Lifestyles Magazine Names 11 Southern Cities 
  for Retirement
• Erickson Plans to Build Communities in the West

Archive of Past Issues                          New Retirement Communities

NEWS STORIES

Arid Western States Seek Solutions to Growing Drought 

The drought in West that began in 1999, along with the region's growing population, have officials in seven states preparing for worst-case outcomes if the mountain snows that feed the Colorado River melt faster and evaporate in greater amounts with rising global temperatures. Colorado, Wyoming, Utah and New Mexico in the upper basin, and California, Arizona and Nevada in the lower basin, and the U.S. Bureau of Reclamation, which manages the river, are considering plans that will lay out what to do if the river cannot meet the demand for water - a prospect that some experts predict will occur in about five years. 

This should be of concern to seniors who plan to retire in western states. The U.S. Census Bureau, in its report on the fastest growing states identifies Arizona, Nevada, Idaho, Utah and Colorado as being in the top 10 in terms of percentage of population growth from July 2005 to July 2006. http://www.retirementliving.com/RLletterarchive_107.html#censusbureaureports,

There are some $2.5 billion in water projects that are planned or underway in four states which is the biggest expansion in the West's quest for water in decades. Among them is a proposed 280-mile pipeline that would direct water to Las Vegas from Northern Nevada. A proposed reservoir just north of the California-Mexico border would correct an inefficient water delivery system that allows excess water to pass to Mexico. In Yuma, Arizona, federal officials have restarted a 15-year old idled desalination plant in the hope of purifying salty underground water for neighboring towns. 

The effects of the drought can be seen at Lake Mead in Nevada, where a drop in the water level has left docks hanging from newly formed cliffs, and a marina surrounded by dry land. Upriver at Lake Powell on the Utah-Arizona border, the lake is now at its lowest level since spring 1973 (except for a brief period in 2005 when it was lower) and has exposed miles of mud in side canyons leading to Glen Canyon Dam. 

In an effort to help solve the drought problem in California, Gov. Arnold Schwarzenegger plans to push for a ballot measure in 2008 that would allocate $4.5 billion in bonds for new water storage in the state. The water content in the Sierra Nevada snowpack has reached the lowest level in about two decades, according to state hydrologists, and is putting additional pressure on the nation's most populous state to find and store more water. 

Utah has proposed a $500 million, 120-mile pipeline from Lake Powell to serve the fast-growing city of St. George and Washington County in the state's southwest corners. Nevada officials have said they will seek to block that plan if Utah stands in the way of theirs. 

Although there are tensions and pressures between some of the states as to who controls what water, they are united in the growing consensus among scientist that future climate change and water temperature, if they continue, could hit harder in their areas than elsewhere in the continental United States.
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New Survey Identifies Most Popular Recreation Activities 
for Retiring Baby Boomers

Challenging conventional thinking about "senior" recreation, a recent lifestyle interest survey of residents at Del Webb (a division of Pulte Homes) communities shows that active recreation, especially adventurous pursuits such as hiking and river rafting, are emerging as a top lifestyle interest by the over-age 55 crowd. Not surprisingly the most popular health and fitness activities included strength training and cardio workouts. 

"It's all about the lifestyle at a Del Webb community," said National Director of Lifestyle Operations for Pulte Homes Judy Julison. "Although interest in many passive recreation activities still exists, demand for more active forms of lifestyle programming has emerged as a top priority among current residents and prospective home buyers. "High on the list of active recreational activities were swimming, golf and bowling but surprisingly, adventure activities like kayaking, canoeing, hiking, and river rafting are working their way up the scale of popularity.

Team sports like softball and tennis also ranked high. Nearly 20% of respondents ranked softball extremely important while nearly 25% of respondents ranked tennis the same. 

Health and fitness activities still rank strong confirming the importance to this demographic of staying in shape. Working out remains a top priority for Del Webb residents and prospective buyers, according to the survey. Approximately 77% of respondents indicated they workout at least three days per week. Fewer than 6% of the respondents indicated they work out zero days per week. 

Among health and fitness related activities, walking and cardiovascular equipment workouts (treadmills, etc.) top the list. Balance training programs such as Pilates, Tai Chi, and yoga are on the rise with more than 51% of respondents saying these were extremely important to programming. 

"Although our active adult residents have health and fitness interests still aligned with those of past years in many ways," said Julison, "We are witnessing an emergence of new or broadened programming pursuits and a shift in lifestyle priorities." 

Golf remains a popular pastime with Del Webb residents and prospective residents. Nearly 40% of respondents indicated they play seasonal golf at least once a week and nearly 65% of respondents indicated they play seasonal golf at least occasionally. Only 36% of respondents indicated they never play golf. This compares to a 12.3% golfer participation rate for people the same ages from the general population of the United States, according to the National Golf Association. 

Of the nearly 80 Del Webb communities in existence today, 19 have at least one golf course located within the community and 27 offer a golf benefits program partnering with local courses for discounted rates and fees exclusively for Del Webb residents. 

Although the trend is toward more active recreation opportunities, passive recreation options are still important to Del Webb residents. Creative outlets are seeing an increase in demand as well as the increasing interest in technology among the demographic. In media and technology, general computer technology ranked highest among interests with approximately 45% of respondents indicating it was extremely important. The most popular creative outlets were ceramics/pottery/clay works, painting and drawing, and wood crafting. 

The survey was conducted under guidance from the ProMatura Group. Pulte Homes, Inc. surveyed current and prospective residents of its Del Webb communities in November 2006 seeking information on lifestyle interests. The company is seeking to validate current and emerging trends related to lifestyle amenities, programs and services to ensure alignment with the needs and interests of its residents and prospective community homebuyers. A total of 5,138 people responded to the survey.
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Report Finds Boomer Executives Making Career Changes 
When Facing Retirement

A growing number of Baby Boomer professionals are "re-careering," or changing professions mid to late in their careers, according to a study released in late March by Los Angeles-based Korn/Ferry International. The report is based on a quarterly online survey of more than 270 of the company's consultants in the Americas, Asia Pacific, Europe, the Middle East and Africa conducted in January 2007. 

Nearly six in 10 recruiters (58%) reported seeing a rise in the number of executives who are changing professions when faced with the prospect of impending retirement. In comparing the number of job opportunities available today to re-careering executives versus a decade ago, a vast majority of recruiters (84 %) indicated there are at least the same number, if not more, of such opportunities. 

Leading reasons for executives to re-career, according to recruiters, are boredom with retirement (22%), a sense of productivity (21%) and intellectual challenge (20 %). Other motivators include insufficient retirement savings (13%) and the need for personal interaction with others (13%).

"Increasingly, retirement no longer marks the end of an executive's desire or ability to be an active contributor in the business community," said Joe Griesedieck, vice chairman of Korn/Ferry International. "Re-careering executives are finding and seizing the opportunity later in their careers to change course, be it through entrepreneurship, consulting, volunteering or some combination of pursuits. While this won't cure the impending talent crunch, it will provide more opportunity for younger executives to learn from Baby Boomers before they retire completely." 

When asked to identify which types of re-careering executives are pursuing, the largest percentage of recruiters (80%) cited consulting projects, followed by starting a business (66%), working as a freelancer (56% and taking temporary assignments (49%). Personal interests, including volunteer work and pursuing a hobby, ranked lower.
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New MetLife Mature Market Institute Booklet Offers Healthcare Advice 
for Retirement Planning

For those considering retirement, before or after age 65, there are a number of important healthcare issues to be considered. For instance, if you retire early will you have health insurance to cover you until age 65 when Medicare takes over? Will you need Medicare supplement insurance to cover any gaps in Medicare coverage after age 65? What healthcare needs might not be covered by Medicare, Medicare supplement insurance, or your retiree health insurance? 

A new publication from MetLife Mature Market Institute titled Retirement Planning: Healthcare Considerations, seeks to answer these questions and more.

"Healthcare and how to pay for it, is one of the major concerns that pre-retires face as they plan for their transition into retirement, according to Sandra Timmermann, Ed.D., director of the Institute. "We designed this publication to help people make the right decisions for their needs and the needs of their families, taking both financial and emotional implications into account." 

The booklet addresses the following issues. 

* Planning and what early steps to take: 

• Explore employer retire health benefits 
• Ask questions to determine coverage and costs 
• Explore benefits through spouse's employer 

* Early Retirement: 

• An explanation of COBRA - COBRA and Medicare Eligibility
•  Private insurance - Health Savings Accounts 

* Medicare: 

• Eligibility - What does Medicare cover?
• What doesn't Medicare cover? 
• Prescription drug coverage 

* Resources: 

• Publications 
• Useful Web sites 

Copies of the booklet can be obtained by calling 203-221-6580 or clicking on: http://www.metlife.com/WPSAssets/11998549291176991123V1
FRetirementPlanning.HealthcareConsiderations.pdf 

The MetLife Mature Market Institute is MetLife's information and policy resources center on issues related to aging, retirement, long-term care and the mature market. Staffed by gerontologists, the Institute provides research, training and education, consultation and information to support MetLife, its corporate customers and business partners.
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Retirement Lifestyles Magazine Names 11 Southern Cities for Retirement

In its February/March 2007 issue, Retirement Lifestyles magazine reported on 11 southern cities that it believes would make good places for retirement. "As baby boomers age, there will be an increasing interest in finding unspoiled smaller communities with great natural assets and a good quality of life," said Dan Owens, publisher of the magazine. The top cities on its list were: Chattanooga, Tenn.; Natchez, Miss.; San Antonio, Texas; Lafayette, La.; Dothan, Ala.; Morganton, N.C.; Georgetown, S.C.; Virginia Beach, Va.; Valdosta, Ga.; Hot Springs, Ark., and Panama City, Fla.

Retirement Lifestyles is a ten-year-old magazine that focuses on communities and retiree lifestyles in 11 southern states: Arkansas, Texas, Louisiana, Alabama, Mississippi, Tennessee, Florida, Virginia, Georgia, North Carolina and South Carolina. The magazine, published every other month, often highlights smaller towns that are "under the radar" of the national media. To order a free copy of future issues, click on www.retiresouth.com.
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Erickson Plans to Build Communities in the West

Erickson Retirement Communities, which currently manages 18 full-service retirement communities in ten states, has opened a development office in Laguna Niguel (Orange County), Calif., to explore and oversee new projects in the Western United States. 

Retirement communities developed and managed by Erickson are known for their large size, their wide variety of recreational, educational, social, spiritual, and volunteer opportunities, and the fact that they serve the middle-income market. 

"Many retirees have asked us to come to the West Coast," said Kenneth Rohde, Erickson's vice president of development services for the Western U.S. "There are currently no full-service retirement communities in Arizona or the West Coast that are even close to what an Erickson community would be." The company is currently looking at land for a future site in the Phoenix, Seattle, Portland, San Diego, Sacramento, and Los Angeles areas. 

Based in Catonsville, Md., Erickson develops and manages campuses in Illinois, Maryland, Massachusetts, Michigan, New Jersey, Pennsylvania, Texas, and Virginia, which are home to more than 19,000 people. The company is also currently developing new campuses in the Denver and Kansas City areas and recently paid $23 million for 142 acres in Ashburn, Va. It is also pursing other site acquisitions across the United States.
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