A new study of Baby Boomers in Melbourne's City of Monash by KPMG demographer Bernard Salt, shows that nearly 70% of the "Me Generation", as they are now known, plan to stay in the family home in retirement.
The study marks the first look into the Baby Boomer generation from a local council perspective, giving valuable insights to councils across the country about this growing group.
Mr Salt said that the study confirms that not all Baby Boomers want a `seachange', but instead are opting to stay in the family home.
"As Boomers' bodies age they will require health support and access to information to assist and prevent chronic diseases," said Salt.
"As Boomers' houses age they may need assistance in modifying their homes and gardens."
The Monash Baby Boomer study was commissioned by the City of Monash to ensure that services meet the changing needs of an ageing population.
"One of the surprise findings of the study was the extent to which Baby Boomers are unaware of the range of services and support already provided by council," he said.
The Monash Baby Boomer study found that Boomer concerns could be distilled into five themes: wellbeing, finances, engagement, housing, and family and social connection.
Other key findings of the study are:
- Some Baby Boomer men in their late 50s are concerned about the role they will play beyond work given their weak social networks outside the workplace. Council programs targeting men can assist this, such as the Men's Shed program.
- More than two-thirds of surveyed Boomers are happy with their current housing but may require Council assistance through a `good design guide' to help modify house design as occupants age.
- Boomers want to utilise the skills they have acquired over their working lives through meaningful and "valued" volunteering opportunities.
- Boomers are concerned about their ability to maintain their lifestyle beyond work and seem unaware or unwilling to use senior discount schemes, perhaps because they don't see themselves as old.
- Council can provide assistance to care-giving grandparents by facilitating support groups such as grandparent playgroups.
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