{"id":20560,"date":"2020-02-19T12:43:54","date_gmt":"2020-02-19T12:43:54","guid":{"rendered":"https:\/\/demo.munark.in\/sinhasi\/?p=20560"},"modified":"2025-02-18T13:10:23","modified_gmt":"2025-02-18T13:10:23","slug":"investing-retirement-home","status":"publish","type":"post","link":"https:\/\/demo.munark.in\/sinhasi\/retirement-planning-with-sinhasi\/investing-retirement-home\/","title":{"rendered":"Investing in Retirement Homes: An Emerging Concept in India"},"content":{"rendered":"\t\t
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The Concept of Retirement Home<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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A retirement home is a privately owned facility designed to accommodate individuals in the golden years of their lives. These housing projects are not similar to old-age homes, where many elderly people live after being abandoned by their family to live many times in deplorable conditions. On the other hand, these retirement homes are vibrant spaces that takes care of food, housekeeping, health care and security, allowing senior citizens to enjoy their old age and on their terms and conditions. For those who can afford this, it is surely a time to introspect on investing in a good retirement home post the age of 60 \u2013 65 years \u2013 this may come in handy in the future.<\/p>

Under this concept, broadly there are two categories.<\/p>

  1. Independent Living: for active senior citizens who can take care of themselves.<\/li>
  2. Assisted Living: In assisted living, you will get 24\u00d77 services and this is meant for those senior citizens who are in need of help to be taken care of.<\/li><\/ol>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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    Necessity for Retirement Homes in India<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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    According to Census-2011 data, 8.6% of population was above 60 years age.<\/p>

    According to the projections available in Economic Survey 2018-19 presented in Parliament on 4th July-2019, It will become 16% of the population in year 2041. It is expected to be around 24 Cr people out of 151 Cr people. This indeed a very large number.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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    Demographics of India<\/strong><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t <\/div>\r\n <\/div>\r\n \t\t\t<\/div>\n\t\t<\/section>\n\t\t

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    This demographic change provides an ample opportunity for this emerging concept of Retirement homes with good facilities and infrastructure to thrive and do well.<\/p>

    Let us discuss, why this concept is important for us, whom it will be suitable for, advantages and its limitations.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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    The Emergence of Retirement Homes<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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    For senior citizens to live independently throughout their life without depending on their children to take care of them in their old age is NEW TO INDIA, primarily because of the centuries old joint family system which was prevalent in our society. However, the nuclear family system is going to be the new normal going forward. In this context, following are some of the factors behind the emergence of this concept of Retirement homes.<\/p>

    1. Social changes with the Emergence of Nuclear family system & shrinking joint family systems<\/li>
    2. Children looking for privacy after their marriage.<\/li>
    3. Children have left their parents and have settled overseas.<\/li>
    4. Urbanization \u2013 Children migrate to other parts of the country for employment and leave their parents in their home towns to take care of themselves.<\/li>
    5. Inability to find good staff to take care of elders at homes.<\/li>
    6. Women of the home are now working full time and don\u2019t have time to dedicate to the care of elders.<\/li>
    7. Innovation in Healthcare and Increasing life expectancy (Currently, the life expectancy of Male in India is 68.3 year, female \u2013 71 years)<\/li>
    8. Impact of Social media. It makes people more self-absorbed, changes their mindset, removing ancient social value systems of responsibilities and respecting & taking care of parents.<\/li>
    9. Mainstream media \u2013 It promotes nuclear family system as a good way of leading a successful life through various serials, dramas, films etc (Most serials focuses on Mother-in-law & daughter-in-law misunderstanding, etc) for past 2-3 decades which causes distrust in the joint family system.<\/li><\/ol>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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      Advantages of living in Retirement Homes<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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