Knowing that we cannot turn back time — at least in this day and age — growing old is inevitable. So, how would you feel about investing in your future retirement before you reach that point in your life? Investing in retirement means more than securing a large IRA. It means putting that hard earned savings to work.
Growing your savings within the assisted living sandbox will help you reach your retirement goals faster and with ease.
The first members of our Boomer Generation started turning 65 in 2011. A report released by The Pew Research Center found that over the course of the next 19 years, Boomers will account for 79 million retirees, which equates to over one-fourth of the total U.S. population. Research also shows that every day about 4,000 retirees will be turning 85 and an average of 70 percent of those seniors will need roughly 3.5 years of assistance for daily living. In 2005, the assisted living industry was worth $139 billion. By 2020, it is projected to reach $207.3 billion. Assisted living services and nursing homes will account for more than two-thirds of revenue.
The growing industry of assisted living creates great opportunities for investors, as well as for those that require special services. Most people are willing to pay whatever it takes to remain in their comfort zones. Assisted living provides such care as semi-independent living, transportation and, best of all, peer-to-peer relations. Additionally, the opportunity for investors to take part in this industry is phenomenal. Currently, operating a small assisted living facility can have a potential gross income of more than $300,000 in its infancy.
You might be asking: “What is the difference between an assisted living facility and a nursing home?” Sure, they both offer the same benefits: taking care of loved ones. But nursing homes are more like hospitals, designed to focus on those that cannot function independently.
Assisted living facilities focus more on helping elders enjoy their lives and independence. Not to mention, rental rates at assisted living facilities are generally lower than nursing homes because they do not provide the comprehensive care that nursing homes are permitted to manage.
So, what does this mean for an individual looking to invest in an assisted living facility?
It means that it’s a great time to capitalize on this growing market. With the improvements in technology and science, people are living longer and shying away from traditional retirement facilities.
Assisted living facilities allow retirees in reasonable shape to socialize and maintain their independence with minimal supervision. The untapped market is “not” the retirees themselves, but their children. In most cases, the children are the first to recognize when a family member(s) can no longer live without assistance. The willingness to seek help completely changes the dynamics of assisted care. This affords the industry further expansion and larger investment opportunities.
Growing your investments within the assisted living industry is likely to propel an investor’s portfolio to new heights, creating new opportunities and stable incomes. This industry is growing rapidly and will continue to grow over the next 20 years. Do not hesitate to invest in this revolutionary opportunity.
RealtyeVest is a real estate crowdfunding company that offers investors the opportunity to capitalize on residential, multifamily and on-trend properties across the United States.