It’s no secret that life after 55 is full of challenges. Whether you’re confronting formidable changes or enduring uncomfortable monotony, it’s normal to feel like your empty nesting and retirement years look more lackluster than golden. 

The pandemic has compounded the problem by adding social isolation to the mix. We’ve been cut off from our friends, families, communities and routines. Our sense of certainty—unfounded as it may have been—has disappeared.  

In the past, openly acknowledging sadness, uneasiness, hopelessness or restlessness has been taboo. But if you are experiencing those feelings, you are far from alone. In fact, according to an August 2020 report from the Kaiser Family Foundation, one in four (24%) adults ages 65 and older reported living with anxiety or depression.  

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.

As we prepare for the Fourth of July holiday and take a moment to reflect after a difficult 15 months, we can see the American Dream is evolving. For decades, the rhetoric and messages we have received have been about the importance self-reliance—that being self-made and independent is simply part of being American. But when the pandemic made the formal and informal social connections and communities in our lives instantly inaccessible to us, the repercussions were severe. We learned that perhaps being “independent” isn’t always in our best interest. 

We’ve all internalized the narrative that to be successful we need to do things on our own, but we know from experience that success is rarely if ever achieved in a vacuum or on an island. Even though we know we need each other, we insist on denying our interdependence. We judge and shame others and ourselves for needing help—even though all of us need help at some point(s) in our lives. How much better would our world be if we could embrace our interdependence and let it inspire us to create solutions that benefit us all? 

The abundance of tech jobs. The beautiful natural scenery. The environmentally-conscious lifestyle. There are plenty of reasons to fall in love with Portland, Oregon, no matter what you’re into. The City of Roses has a unique culture and universal appeal: it was ranked as both the #1 best place to live for seniors and as one of the 10 Safest Cities for Families with Young Children. It’s also been highlighted as a tech hub in recent years as well as a dream destination for hikers thanks to its 180 miles of trails. While the rain can be a downside, what few realize is that almost any climate you desire is only ever 90 minutes away—beach, year-round skiing, dry desert. It’s all within reach if you need a quick escape.  

With such diverse appeal, it’s no surprise that Portland has exploded in popularity and population. In the last decade alone, the city has seen an influx of nearly 400,000 new residents. This growth has led to a spike in rent prices and overall cost of living: the average Portland renter looking for a one-bed apartment can expect to spend $1,500/mo in rent, while home buyers are facing a median home price of $500,000.