Editor’s note: Bryce Sanders is a longtime columnist with Rethinking65. Read more of his columns here.
Bryce Sanders
Does this sound familiar? You have a client. (So far, so good.) They are retired. They feel they are falling apart.They are slowing down and gaining weight. They have stopped thinking long term. They go out for dinner less and less. They think the world is passing them by. You get the feeling they are waiting for death. As their advisor, can you change the narrative? Yes, you can.
This is not uncommon. Years ago, nursing home were called “waiting rooms for death.” Since everyone is at an advanced age, people die more frequently than a cross section of the general population. This might also be the case if they live in a retirement community in Florida.
Here are 10 ways you can get them interested and active again.
1. Emphasize That Age is Just a Number
Life expectancy for men in the U.S. is about 74.8 years and 80.2 for women. This can be depressing if they are 75 or 81. But this is an overall number covering the entire population across all income levels. If your client has good genes and lives in a metro area with excellent hospitals, it can be a different story. If you live in Honolulu, that number might be 84.3. On a personal level, my wife and I are making dinner plans with a friend who is about 89. I dropped off Panera’s Autumn Squash soup for another friend who is approaching 90 and stuck at home because he isn’t feeling well. (This has interrupted his competitive running schedule.)
Older clients know lots of stuff. The expression “in living memory” means things that happened that can be recalled by people who are still with us. Your local library or historical society might participate in a living history project, recording oral histories and stories from people who remember the neighborhood or town as it was. This can be an opportunity for them to give back.
3. Encourage Them to Join Clubs
Perhaps they could join a cooking club or a book club. This can bring them into the company of a range of ages. Let us stick with the book club idea for a moment. Did you see the film, “Book Club – The Next Chapter?” It was made in 2023 and starred Candice Bergen (76), Diane Keaton (77), Jane Fonda (85) and Mary Steenburgen (69). The brackets show each actor’s age in 2023. These are older contemporaries who still enjoy life.
4. Mention Fun Films With Seasoned Actors
There are plenty of other films showing older people who are having fun. This includes “The Best Exotic Marigold Hotel,” “The Bucket List,” “Grumpy Old Men” and “Calendar Girls.” Ask your clients if they’ve seen any of these films. Suggest that they watch several of them, ideally with friends, so they can laugh along.Perhaps you want to join them.
5. Let Them Know That Senior Travel is Hot
The target market for Saga Cruises is people over 50. I have heard from UK friends that the clientele is much older. AAA lists the best cruise lines for seniors. A Google search indicates Seaborne averages 66 years, Oceana and Holland America, 64 years. Bear in mind, these are averages.
6. Recommend Restaurants for Socializing
We have all heard the jokes about “Early Bird Specials” in Florida restaurants. Try to get them into a routine of dining out with various friends. It gets them out of the house. They would eat balanced meals. They engage in conversation. They have events to look forward to every week. Friends will check on them when their routine changes.
7. Extol the Benefits of Gardening
It has been said that 35% of adults over 50 like to garden. Lutheran Senior Services says it helps to lower blood pressure, relieves stress and provides exercise. This can be done on a small scale with container gardens or window boxes. They might join a local gardening club and go on garden tours.
8. What’s Their Favorite Sports Team?
It might be the same stadium, different players. They can go with their friends. They can keep up with away games on TV. There might even be senior discounts on tickets.
9. Remind them of Senior Opportunities
AARP advertises on TV all the time. Its target audience is 50+, so “it’s not all old people.” They can learn about activities and travel suitable for older people with limited mobility or other issues. It delivers the message that quality of life can continue as you get older.
10. Promote Community Organizations
This might include the historical society, symphony and museum. They have plenty of events during the year. Your client can start to build a calendar of events, then choose which they do (or don’t) want to attend. They might even get busy enough that schedule conflicts develop! As their advisor, you can join the same groups, so they see familiar faces. (You can encourage them to attend!)
Ever hear the expression “It’s evolution, not revolution”? If not, you have heard “Take baby steps.” You can get your older client back into circulation, one step at a time.
Bryce Sanders is president of Perceptive Business Solutions Inc. He provides HNW client acquisition training for the financial services industry. His book, “Captivating the Wealthy Investor” is available on Amazon.
