They say, 60 is the new 40 because medical advances and awareness are allowing people to live longer and healthier. When I was growing up, the term senior was always associated with a much older age similar to what we now see as 80 and older. It was common for people to work until they were 65, and before long, they passed away because the average lifespan was 70. So you see, the term senior really doesn't describe the age group 55-70 because people are healthy, vital and no where near ready for the previous generations version of retirement. Now, folks are ready to really live, travel and check things off their bucket list that they've put off. It's a time to enjoy the fruits of their labour and commitment. Many spent their adult years working with heavy responsibilities such as raising a family, mortgage, bills, building their careers and never ending education.
Now, I may feel this way because I'm closing in on 50 but the way I see it, 55-70 seems like it may be the most exciting stage. Think about it. If I reach my financial goal of being mortgage free and bills paid off by the time I'm 65 with my retirement fund fulfilled and children successfully raised and out the house, I'll have freedom to do what I want, when I want. Sort of like a teenager. A simplified lifestyle with minimal responsibilities and lots of time. The advantage of being a teen later in life is not having any hang ups, insecurities, earned the right to say what I want and acquired wisdom to avoid trouble... If I wanna.
I've met many people in this age group, many being real estate clients and they also associate the term senior to what they knew growing up, old. 60 is not and will never again be old. There is a growing trend of boomers not downsizing, (which sounds very negative) but simplifying so they can have the freedom to start their new and exciting new stage before they get to being a "real" senior. I've followed up them after their transition to their new lifestyle and they were elated, excited, full of life and wondered why they hung onto their family home for so long.
So we need to come up with a new name this new stage in life, the one between adult and senior. For fun, write some ideas in the comments.