By Steve Moran

Aging brings new problems, new challenges. Those of us over sixty know this and live this even though we mostly want to pretend it is different.

This is good news for two reasons:

  1. It means we are still alive and eager to live the best lives we can. We are not dead, we have not given up, and we are, or we want to, face these challenges down.  
  2. It represents a tremendous business opportunity for senior living or some other sector of the aging services. I would love to see it be senior living. Ultimately, every business in the world solves problems. 

    The question senior living should ask itself is, what problems do we solve? Are we solving the right problems? Are there other problems that we should be/could be solving, but we are not? 

What if Senior Living Saw Itself More Broadly? 

It is clear that today, senior living solves some of the problems of aging:

  • Isolation and loneliness 
  • Safety and security
  • Care (bathing, dressing, med management, transportation)
  • Reducing worry for families

But what are some other problems that accompany aging? I asked AI to help me with a list, and here is what we came up with. There may be others we missed, and you may not agree with some of them.

  • Chronic health conditions (arthritis, heart disease, diabetes, hypertension)
  • Reduced mobility and physical strength
  • Balance issues leading to fall risks
  • Sleep disturbances and insomnia
  • Sensory impairments (hearing loss, vision deterioration)
  • Dental problems and oral health challenges
  • Incontinence and bladder control issues
  • Slower recovery from illness or injury
  • Decision fatigue about healthcare choices
  • Mental stimulation needs
  • Loss of purpose or identity after retirement
  • Death of spouse, friends, and peers
  • Shrinking social circles
  • Difficulty making new friends
  • Dating and forming new relationships later in life
  • Healthcare costs and insurance complexities
  • Risk of financial exploitation and scams
  • End-of-life financial planning
  • Home maintenance challenges
  • Transportation limitations after driving cessation
  • Meal preparation difficulties
  • Household chores and cleaning
  • Keeping up with routine home maintenance
  • Pet care challenges
  • Managing mail, bills, and paperwork
  • Loss of professional identity post-retirement
  • Finding meaningful ways to contribute to society
  • Maintaining relevance in a youth-focused culture
  • Ageism and discrimination
  • Need for continued learning and growth
  • Legacy concerns and life review
  • Finding purpose in later decades

You would rightly argue that some of the challenges are being addressed in senior living today for those living in a senior living community. But what if some senior living organization became the one-stop shop for all the challenges of growing older? 

Which of those problems could you solve today, creating opportunities to deepen your consumer base and to add revenue streams to your organization? 

What if senior living were the one industry that solved the problems of growing older?