Senior Spotlight: Implications of Baby Boomers Living Alone

Solo retirement is a topic we have been following on our Senior Spotlights for many years, and for good reason. Historically, the number of individuals who live alone increases with age whether due to entering retirement single, losing a spouse or other loved ones or relatives moving away. Yet recent data from The New York Times reveals that more Americans are living alone than ever before, in 2020 there were 15 million adults over age 50 living alone – that figure in 2022 is now at nearly 26 million! 

While there are many benefits to living alone whether by choice or circumstance, research has shown that those who age alone are more likely to face physical and social emotional challenges and have shorter lifespans. While we would never disparage anyone from living a solo lifestyle, we do want to ensure that every quality of life is empowered to be the best it can be! Therefore, we wanted to share these considerations for solo aging, courtesy of Forbes [More Aging Baby Boomers Are Living Alone — How Do They Compare With Previous Generations?]. 

| By the year 2030, all Baby Boomers will be over the age of 65 and either in retirement or planning for it. 

| There are now 26 million Americans over age 50 living alone, and 30% of all-aged households are single-person units. That means almost 38 million people are living alone in the US. 

| The Journal of Perspectives on Psychological Science reported that in 2019, 90% of seniors interviewed desired to maintain their independence. On the contrary, The New York Times reports that solo living Generation Xers were more likely to seek communal living as they age. 

| Research from the National Institute on Aging reveals that social isolation and loneliness lead to higher risks for: high blood pressure, heart diseases, a weaker immune system, obesity, anxiety, depression, Alzheimer’s and even death. 

| From a policy perspective, Social Security cost-of-living adjustments and funding levels for adult programs are based upon the number of seniors and the number of seniors who live alone. 

| Communities need to account for service needs of solo agers with regards to home delivered meals, day programs, transportation and healthcare. 

| Housing impacts include the fact that many solo agers are staying in place rather than moving to a senior community because it is more affordable (particularly for longtime homeowners with small mortgages or paid-off homes). 

| Even seniors who want to downsize are unable to do so on account of a lack of entry level homes from builders and historic low existing inventory. 

In short, living alone can be a financially desirable situation and for many, a preferred one. Ensuring a healthy quality of life, however, should include regular opportunities to see friends, do things you love and plan for changing health needs should they arise.

We can be better when we spend time together – even if we enjoy living alone! 

All my best,

Bobbi

Bobbi Decker
DRE#00607999

Broker Associate
650.346.5352 cell
650.577.3127 efax
www.bobbidecker.com


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