Experience: Looking Ahead to
GENERATION X The oldest members of the generational cohort Generation X turn 53 in 2018. They are just two years away from being eligible to live at Garden Spot Village. Committed to forward thinking, Garden Spot Communities is already considering what Generation X might want in retirement.
Baby Boomers, Generation X and Millennials—look forward to retiring at or around the age of 65. All generations share a common desire to travel, spend more time with family and friends and pursue hobbies.
CEO Steve Lindsey says, “If we are not anticipating now what Generation X may want, then by the time they are ready to move here, we won’t be prepared to serve them. If we are waiting until they turn 55 or 60 or 65 to think about that, we are behind and we can’t catch up. We would much rather anticipate what is coming than react to what happens.”
Many mention finding purpose in their retirement years, through involvement with grandchildren, volunteer work or an encore career.
In what best-selling author Jon Acuff calls the “Mastering” decade of life, many Gen Xers are just hitting their stride when it comes to earning potential and responsibility. Many balance a very demanding work environment with the needs of their aging parents and their children.
Influencing the next generation is also important. A Gen X pastor says, “I want to share my experience from years in ministry with the next generation of church leaders. They do not have to do things my way, but perhaps they can avoid some of the errors I made in ministry.”
Transamerica Center for Retirement Studies released its annual retirement report in December 2017. “Wishful Thinking or Within Reach? Three Generations Prepare for ‘Retirement’” describes Generation X as the Stoic and Struggling 401(k) Savers and says, “Generation X (born 1965 to 1978) entered the workforce in the late 1980s just as 401(k) plans were making their first appearance and defined benefit plans were beginning to disappear… Just 14 percent are ‘very confident’ that they will be able to fully retire with a comfortable lifestyle.” According to the report, all generations surveyed—
A quick, informal survey of Gen Xers in Lancaster County revealed similar sentiments. One Gen Xer says, “If my health allows, I hope to be active—taking hikes, watching my grandchildren, traveling and biking.”
They also look to streamline their lifestyle to allow time for these pursuits. Eliminating yard work, housekeeping, home maintenance and demanding careers will be a priority.
Steve says, “Although Gen X may not be actively thinking about where they want to live in retirement, we should be thinking about how we can create an environment where they can live with meaning and purpose.” Part of that vision, Chief Marketing Officer Scott Miller says, is “to create an authentic experience for everyone who visits. If Gen Xers feel welcome running our marathon, coming for Starbucks coffee or dining at one of our restaurants, they’ll be more likely to explore all the benefits of the Garden Spot Experience as they become age qualified.” Fall/Winter 2018
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