A lot of people are starting to realize that there’s a growing need for hospice in the United States.
This is actually true of the entire state of California.
However, it’s glaringly true in Los Angeles, which currently serves as a center for living for retiring baby boomers who are looking forward to the next chapter of life.
Many of the citizens of Los Angeles who are nearing retirement age have worked hard to create wealth for themselves.
As such, they’re getting ready for a smooth transition into the next chapter of life.
But as this population ages, services like hospice care will become more and more necessary.
And here’s the thing—with baby boomers beginning to retire in record numbers, the need for hospice over the next 10 to 20 years is only going to grow.
Here are some notes that you may want to be aware of if you’re looking ahead to retirement and thinking about the long-term lifestyle assistance you may require over the next 10, 20, or 30-plus years.
1. The Demand For Hospice Is Growing
As we’ve already discussed, as the baby boomer generation starts to retire in record numbers, we’re going to see more and more retirement lifestyle services tapped to capacity.
This will probably open up the marketplace to the opportunity for new post-retirement lifestyle services to set up shop.
Hospice is one such business that there’s going to be an increasing need for in the years to come.
2. This Means That People Who Are Retiring Now Should Already Start Looking Into The Availability Of Services
Unfortunately, in the interim, we may actually see the retiring generation run into a sort of ‘market shortage’ for post-retirement lifestyle services.
This is mostly due to how fast demand will grow.
Hospice is a crucial industry that’s going to be in really high demand over the next 20 to 50 years.
With that being said, right now, it’s not clear that there are enough hospice companies with a large enough capacity to handle all of that future demand.
Therefore, you may want to start looking into the availability of these services earlier rather than later—to make sure that you find options that will actually work for you and your loved ones.
3. It’s Going To Become More Important Than Ever To Get Family Involved
Retirement should actually be a family affair.
Granted, as you prepare for retirement, you’ll probably want to maintain a bit of your own independence.
After all, you spent all of these years caring for your children (and probably grandchildren).
And at this point, you’re probably ready to enjoy yourself.
But be careful about walking away from the importance of the family dynamic, maintaining close ties to your family, and avoiding roping them into decisions about your future after retirement.
This will be an important step in the process of securing your future and just making sure that everything goes smoothly.
4. Remaining A Close-Knit Family Unit Will Help Baby Boomers To Find The Support And Assistance They Need After Retirement
As more and more baby boomers retire, they’re going to realize that having a close-knit family unit will be important to their long-term happiness and well-being.
Look—as people retire and move into the next chapter of life, they’re going to face challenges that are best overcome with support and assistance from their families.
Technology is only increasing.
The world is getting more complex.
And as someone nearing retirement age, it’ll be in your best interest to really incorporate your kids and grandkids into the decision-making process for your future.
All of this may sound complicated, but it’s actually not.
You just need to take it one step at a time, and be intentional about the process.
Hopefully, this post has helped you to understand the growing demand for hospice in the Los Angeles area, and how this may impact people of retirement age moving forward.
Of course, every situation and life is different.
So it’s just really important that you take action sooner rather than later to make crucial decisions that will help you to give yourself your best odds for an amazing retirement—now and in the years to come.
You’ve got this.
Now get out there and make it happen.