New Mather Institute Study Shines Spotlight on Gen X’s Concerns, Desires 

A new study conducted by the Mather Institute has been launched to determine the desires and concerns of Generation X regarding senior living. The five-year study aims to better understand this cohort, which consists of individuals born between 1965 and 1980, and is not yet ready to move into senior living communities but are increasingly becoming decision makers for their parents. The CEO of Mather, Mary Leary, emphasized the importance of understanding Generation X in order to serve them better and revealed that the study uncovered notable differences between Generation X and the baby boomer generation. While Generation X has concerns about finances, cognitive decline, and social isolation, they share similar interests with baby boomers in seeking a senior living experience focused on wellness, lifestyle, and more choices. The study also found that Generation X is notably more stressed than their baby boomer counterparts and are more likely to enter their retirement years without children or a spouse. This highlights the need for operators to be flexible and build support systems for employees given the significant number of Gen Xers in the workforce. The study also revealed that Generation X is tech-savvy and leans towards a focus on holistic wellness, which is important in addressing mental health, loneliness, stress, and burnout. Mather Institute’s findings highlight the need for providers to offer financial planning resources, leverage new technology for programming and services, create holistic wellness programs, implement strategies to support and attract a diverse Generation X population, and offer greater availability of flexible work schedules and stress management tools. The study coincides with the upcoming opening of The Mather, a luxury life plan community in Tysons, Virginia, which is 90% pre-sold and includes residents from both the baby boomer and Generation X groups. With units ranging from 850 to 3,300 square feet and entrance fees from $639,800 to $4.2 million, this community reflects the changing demographics and preferences of the senior living market.