The 2021 Silver Survey Finds Older Homeowners May Need Creative Solutions to Realize Their Retirement Lifestyle Dreams

This summer, the Silvernest team started wondering: How do older American homeowners feel about their retirement finances and ability to age in place, 15 months into this new pandemic-framed reality?

Because we love data, we commissioned a survey to find out. The 2021 Silver Survey went out to a group of older homeowners, none of which are current Silvernest members. Armed with pre-2020 research on retirement and aging in place, we wanted to see whether older Americans’ plans and prospects are changing—and, if so, how.

According to multiple studies, the vast majority of Americans want to age in place, which the U.S. Centers for Disease Control and Prevention defines as “[living] in one’s own home and community safely, independently, and comfortably, regardless of age, income, or ability level.” It’s no surprise this idea is so popular—as a society, we have begun moving away from institutional living and back towards our homes and communities.  

But if I didn’t know the definition of “aging in place” and someone asked me if I wanted to do it, I would probably say no. Honestly, aging in place doesn’t sound that great. The term suffers the same mistreatment as many ideas and catchphrases we use to talk about the latter years of our lives—it’s negative, joyless and lacks nuance.  

So “aging in place” has a branding problem—who cares? I think we all should. Language shapes the way we see the world and even helps us recognize objects, and my suspicion is that we are narrowing and stifling what aging can be aging by the way we describe it.  

While renting out space in your home might get you into a lease, homesharing can give you a new lease on life. Denver residents Eileen and Jeanne discovered many unexpected benefits of co-housing when they signed up for Silvernest and found each other. “I’ve never lived with someone so interested in my life,” says Eileen. “It’s lovely to have a friend in the home. I’d be happy if Jeanne stayed indefinitely.”

Oil and water. Fire and ice. Teacher salaries and Bay Area housing costs. These are all examples of things that simply don’t mix.

At least for the last one, however, there is a creative solution available. Based on the success of our educator homesharing initiatives in Denver and Miami, Silvernest worked with Teach For America and Encore.org to help young teachers find affordable housing in an expensive city. This time we helped Teach For America educators in the notoriously expensive San Francisco Bay Area!