1 September 2016

Rental Opportunities for Baby Boomers

As the leader in Las Vegas homes for rent, Triumph is acutely aware of the difficulties that every generation may have when it comes to financial security. Here, we focus on the baby boom generation, offering some tips on what they can do to buttress their circumstances.

The baby boom generation are, of course, those born between the mid-1940s and the mid-1960s. It’s a generation that have, on balance, greater financial security than their younger equivalents. But the situation is not so rosy for every member of this generation.

After all, the baby boom generation compose an enormous 1 in 4 of the American population – so generalities can go straight out the window. Indeed, only 3 in 5 baby boomers are reported to possess retirement savings – not as high as one might come to expect.

Taking an active approach

As a result, many members of the baby boom generation struggle with homes for rent. They don’t have the savings and aren’t quite sure what to do. But there are steps that they can take – positive and effective steps that can have a real and lasting impact.

For example, boomers should – if they are in a position to do so – return to work, or at least look into this possibility. More and more boomers are returning to work as life expectancy continues to rise. It remains a viable option for many, though not all, baby boomers.

Downsizing should also be considered. What this means is that boomers should try to get by for less and with less. There comes a point when our current circumstances have outlived their purpose, with a thorough revaluation putting what’s important back into perspective.

Think about savings, too. Financial security should be considered an absolute must, security that can be accelerated and enhanced over the coming years. Instead of sticking to the status quo, boomers should think about how to expand their security in the mid-to-long term.

Many boomers will have active investments. Take the time to ensure these are allocated properly and that they aren’t in a position to be compromised – by internal or external factors. The value of investments can, and does, change over time.

And there are, of course, those boomers who still inject credit into their offspring. This can be a difficult one. Though parents are naturally inclined to assist their children, they must also – at some point – come to think about their own future, too. It’s a two-way street.

Final thoughts

The baby boom generation aren’t a forgotten generation with no redeeming features. They’re a generation who can play an active role in renting at a rate that suits their circumstances. Las Vegas homes for rent continue to be a viable, sensible option for this group of society.

If you’d like to learn more about Las Vegas homes for rent, check out this page for more information. As the leading property management firm in Las Vegas, Triumph offers excellence in service that has helped hundreds of clients across the city.