Top 10 Baby Boomer Investments Detroit MI

1. Recreational businesses

An AARP survey found that 79 percent of people over 50 years old plan to work even after they reach traditional retirement age; some might channel one of their passions to start a business, such as a vineyard , bookstore or bed and breakfast . Potential investments include starting businesses to provide turn-key investment and job opportunities for baby boomers and buying land and/or properties that could be used for such businesses.

2. Tourism businesses

An ABC News/USA Today poll found that being able to travel during retirement is the top concern of baby boomers . As baby boomers retire and spend more time traveling, tourism businesses that cater to them, such as tour companies, restaurants and those that provide activities, education or entertainment, should do well.

3. Active and cost effective senior developments

Health clubs are becoming increasingly popular for baby boomer investors Active adult communities are gaining in popularity around the country; a Del Webb poll found that 26 percent of baby boomers plan to move to an active adult community in retirement. Many boomers will downsize their residences and live healthy, active retirements. Many existing active adult communities are high-end; less expensive developments in the U.S. or even abroad would likely be successful in coming years.

4. Health clubs/health food businesses

As boomers age, they will become increasingly concerned with their health and wellness. A Harris Interactive study found that 62 percent of boomers are concerned they won’t be healthy during retirement. Businesses that help them stay healthy, such as health food and nutritional supplement stores or health clubs focusing on low-impact exercises, could be in increasing demand.

5. Foreign properties

Many foreign countries featuring beaches and warm climates are cheaper to live in than the U.S. Because many baby boomers will have 20-year retirements—those who reach age 65 are expected to live to age 85, according to the National Center for Health Statistics—they will have to find ways to reduce their overhead. Easily accessible foreign property could see significant value increases as a result of aging baby boomers moving abroad .

6. Beachfront properties

Many people dream of spending their retirement on a warm, sunny beach. 45 percent of baby boomers plan to move someplace with a warmer climate, according to the Harris Interactive study. Given that there is a limited supply of beachfront property in warm climates on the planet, values of beachfront properties in or easily accessible from the U.S. will increase.

7. Senior financial planning businesses

As they approach retirement, baby boomers will be looking for creative ways to reduce their overhead and get maximum value out of their savings; they should also be thinking about end-of-life financial issues. 97 percent of baby boomers aren’t com...

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