Have you planned sufficiently for your retirement? It’s about a lot more than finances – you also need to decide where to live.
Retirement isn’t what it used to be. Slowing down and putting one’s feet up is no longer the “default setting” in later life. Not only the younger generations are enjoying the benefits of greater mobility and connectivity because nowadays older people are just as technologically savvy and socially engaged.
Many retirees are opting for an active and dynamic lifestyle, with many of them working well into their 60s, sometimes even their 70s. They are redefining the meaning of retirement and they are doing so within a rapidly changing world – a world with many challenges, including shifting family structures, superfast advances in technology, safety and security concerns, and more.
The other major factor is increased life expectancy – another reason to pay more attention to retirement planning.
In many parts of the world, people are living longer. Global life expectancy has increased by five years since 2000, according to the World Health Organization. In southern Africa, South Africa has the highest proportion of older population with one in eight people aged 50 and older. By the end of the century, projections show that almost a third of South Africa’s population will be older than 60.
Numbers like these directly impact the way we retire, and where we live in retirement, not least because of escalating healthcare costs. So, what are your plans?
In South Africa, the premium provider of retirement living, is Evergreen Lifestyle – thought leaders in the industry who are revolutionising the way we are retiring in this country. Evergreen’s meticulously maintained villages are highly sought-after and home to healthy, happy communities of active and engaged retirees.
Garry Reed, Managing Director, Evergreen Lifestyle Villages says: “World-class healthcare, resort-style facilities and first-rate amenities are standard in all our villages. This contrasts with the traditional old-age home, where the approach is primarily nursing based.”
There are 5 Evergreen villages in the Western Cape, one in Gauteng, and with plans to build 10 000 homes within the next 10 years means that Evergreen is rapidly growing its national footprint. The Gauteng village, at Broadacres in Johannesburg, is expanding.
Home to a vibrant community of retirees, Evergreen Broadacres is a premium option for seniors who want to manage their retirement as it suits them.
A state-of-the-art Lifestyle Centre offers residents a wonderful space to socialize, play card games, visit the gym or simply relax and read and book from its library. The first phase of apartments which are built nearby the entrance to the Lifestyle Centre are now ready for occupation.
Of the 130 freestanding homes already built at Evergreen Broadacres, all are sold. The latest phase of development adds the first apartments of what will ultimately be more than 100 units. Prospective residents will have a choice of two-bedroom two-bathroom or one-bedroom one-bathroom units.
Reed says, “When retirees make the life-changing decision to move into retirement, it’s preferable to choose a home where they can stay for the remainder of their lives rather than having to relocate based on medical or financial necessity. At Evergreen Broadacres, residents will now have the option of scaling down from a house to an apartment, should this become necessary.”
The Evergreen model provides home-based healthcare for as long as possible. When someone’s health isn’t so great and they have to move into the Care Centre, Evergreen care facilities are purposely decorated in a warm, homely fashion, to aid recuperation and overall well-being. Evergreen Broadacres has a 32-bed Care facility. These fully equipped units are staffed by experienced, registered nurses and offer 24-hour nursing, offering recuperative, frail, dementia and palliative care, with regular doctor’s visits.
Rights for life
Buying into Evergreen villages is by way of the Life Right purchase model. It is gaining traction because one of its major benefits is that it relieves you of the burden of care for the property as it vests with the developer, who remains the legal owner. The purchaser buys the right to occupy the property for the remainder of their lifetime – hence the name Life Right model.
Reed says, “A life right guarantees a safe and secure home throughout your remaining years, and those of your spouse. The model delivers affordability since pricing is flexible and can be tailored to fit your budget, and levies are transparent and affordable. Special levies to cover major maintenance projects remain the responsibility of the developer.”
Evergreen Broadacres by numbers
- 7 years old
- 8-hectare grounds
- 2-hectare green belt
- R500 million investment
- 4 000m2 Lifestyle Centre
- 32-bed Care facility
- 130 freestanding houses
- 24 apartments in first phase of construction (more than 100 planned in total)
‘Our shareholders are commercially strong, so a Life Right agreement with Evergreen provides tremendous peace of mind financially’