Give me your elderly, your retired, your senior citizens

It’s well known that money doesn’t buy happiness, but it does buy a nice place to live – which is a step in the right direction. It’s also well known that the elderly, with mobile pensions, tend to seek out places that offer the best senior living arrangements for their buck. This means having a comfortable, maintenance-free living space in an attractive and safe environment with some interesting things to do and locally accessible health services to address the inevitable wearing-out of the human body.

Geographically, this has usually meant a move to the east or west coast of Florida, central Arizona, or perhaps Tennessee or the Ozarks. To say the least, when a relatively well-heeled senior leaves his or her longtime home, it represents a considerable loss to the community – not only in material and financial assets, but in the loss of knowledge and a future income stream that is likely to continue for many years.

For that reason and because American’s population is aging at a rapid rate, communities should take seriously the needs of their elderly and do all they can to get them to stay. Likewise, any new retirees to a community represents a significant gain that allows for the growth of social and economic capital. Elderly people not only bring a lifetime of accumulated financial wealth (some more than others) but a significant bank of experience and talent. Contrary to the popular notion, older people within communities are not burdens to be endured, but are important engines for community sustainability and growth.

Today, Michigan is hemorrhaging senior citizens. What can Michigan do to retain its seniors and attract new ones? A lot! Michigan can promote and invest in walkable retirement communities; safety and easy public transport; accessible social, recreational, and entertainment facilities that accommodate older people; and subsidized health and medical benefits. Given the uncertainty of life expectancy for the elderly, local governments might maintain high-quality rental housing to attract seniors.

Many elderly enjoy living is coastal areas and, indeed the Atlantic, Gulf, and Pacific coast states have long enjoyed a net influx of free-spending seniors. Interestingly, Michigan has the longest coastline of any of the lower 48 states which, with improving winter weather (thanks to global warming), could be a powerful magnet to America’s 78 million aging babyboomers looking for coasts that don’t routinely have hurricanes, floods, fires, and earthquakes.

All this is to say, Michigan (including metro Detroit) could be doing much more to support and attract senior citizens. To do so, would reduce our economic dependence on a maturing auto industry, promote a broadly based service economy, and perhaps, reverse the downward economic spiral that seems to be gripping our State. Our new motto should be: “Give me your elderly, your retired, your senior citizens yearning for a beautiful, safe, and low-cost environment for their remaining years and I’ll give you a prosperous State”.