With baby boomers rapidly expanding the population of Americans age 45 to 65, a growing need for businesses that cater to the expanding needs and desires of an active and independent elderly population has emerged.
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Many families are spread across the country, and are unable to assist their elderly family member with their ongoing battle to stay afloat from a sea of paperwork. More and more people like Frank Thornton are deciding to get help from a professional.
“We needed an expert,” said the 68-year-old Hartwell, Ga., resident who described himself as an “old bachelor.”
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He found Amy Carrick, who provides daily money management services, primarily for seniors. After spending 30 years in the corporate world, Carrick said her focus not only made good business sense but was also more rewarding than her previous path.
At Elder Options, care managers help clients find appropriate caregivers and coordinate their efforts.
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“Certainly as our population is aging, particularly as the Baby Boomers age, the need for these kinds of services are growing exponentially as well,” said Stephanie Swerdlow, director of Elder Options.
Golden opportunities for businesses to find and fill market niches has sprung from the demand for more and increasingly specialized services for seniors.
“Today’s senior is more savvy, and their Baby Boomer children certainly are more savvy about what it is they need and how you meet that need,” said Gail Stokes, editor of All About Seniors, a magazine based in Charlotte, N.C.