Resources & Blog
Posted: Monday, November 21, 2011
A Bit of Nostalgia
Thanks to all who helped Retirement DYNAMICS celebrate its tenth anniversary at LeadingAge DC in October. The "W”, Washington, DC’s, Rooftop Lounge overlooking the Washington Monument was a great setting for such a celebration. If not for our 170 clients and partners we would not have had ten years to celebrate. Great views, great libations and great friends. THANK YOU ALL!!
As I reflect on my 21-year career and especially the last ten years, I recognize how much our industry has changed. In 1990, there were few if any marketing counselors or marketing directors at that time, especially in communities that had been open for a while. My first job was working with Covenant Village in Gastonia, NC. I had no office in the community and worked primarily by visiting prospects in their homes. It worked!
The average two bedroom apartment in 1990 was just over 900 square feet and studios abounded. Things certainly have changed! Many communities now struggle to sell studios, and two bedroom apartments average somewhere between 1,100 and 1,300 square feet. The mid-1990’s heralded refundable entrance fees and the growth of assisted living component.
Interestingly, we now are seeing some reversions to days gone by. Apartments are a bit smaller than they were in 2007, 50% refunds are often more popular than 90% refunds due to the dollar requirement, and selling CCRCs has become more difficult in general due to the bad press stemming from the Erickson bankruptcy, the Senate hearings and the study by the GAO.
Do I still love the industry? Oh, yes with a resounding YES! Retirement DYNAMICS has had the opportunity to better seniors’ lives through communities. Seeing some of our older residents enjoying their lives in such interesting and stimulating environments makes it worth all the hard work. And the RD team of consultants continues to amaze me...they have 20 years or more of experience each; are hard working, committed consultants and have grown to be owners of RD now too.
Moving forward, will our industry continue to change? I am sure it will. Let’s continue to make something good happen.