Local Businessman Reaches 15-Year Goal of Helping Seniors Age in Place
Fifteen years ago, Steven Thompson came up with a plan. An accomplished local businessman and engineer by trade, Thompson decided when he retired, he would start a business helping older people stay in their homes – also known as “aging-in-place”.
“I know what it feels like to have elderly parents who want to age in place,” Thompson said. “It bothered me that seniors often feel pressured to go into assisted living, when maybe all they need is a little extra help at home.”
After researching a variety of business models, Thompson decided to launch Seniors Helping Seniors Vermont, an in-home care service that hires retirees and older adults as caregivers for less active seniors.
“The Seniors Helping Seniors brand reflected my own personal goal, which was to spend my retirement years helping older people,” Thompson said. “So, in that sense, it was a perfect fit.”
The in-home senior care industry has seen unprecedented growth in recent years due to the aging baby boomer population. An estimated 10,000 baby boomers turn 65 years old every day, and by 2050, nearly 20% of the U.S. population will be age 65 and older. According to the National Council on Aging, 90% of seniors said they plan to remain in their homes for the next five to ten years.
As Nursing Homes Close, Aging in Place May Become a Necessity
The preference for living at home remains consistent even in the case of illness or disability. According to AARP’s 2021 Home and Community Preferences Survey, two thirds of adults surveyed said they would prefer to receive help from family or paid professionals in their own homes.
But while aging in place might be the first choice for most older adults, it may soon also become a necessity. According to the American Health Care Association, more than 400 nursing homes are projected to close in 2022 as a result of funding and staffing issues.
Thompson said his goal is to make Seniors Helping Seniors Vermont the leader in quality in-home care throughout the state.
“Seniors Helping Seniors is a brand I would trust with my own mom and dad,” he said. “As a lifelong Vermonter, I’m proud to bring such an important resource to our community.”