Senior Spotlight: Would You Consider A Retirement Registry?

In all the articles that are filling your newsfeed, this one from AARP just might have been overlooked in the shuffle. Just published last week and titled, ‘Retiring? A Gift Registry May Be in Your Future,’AARP unveils a concept that you have likely seen in other life stages such as getting married and having a baby – but is now being applied to retiring too!

Yes, it’s true – retirement registries are becoming a thing. A crowd-funding site called Plumfund.com has hosted 500 web pages for the needs and wishes of retirees. Requests may be a tiny house, a new porch, a once-in-a-lifetime trip or funds for a caregiver. These types of platforms are typically set-up by a relative who is seeking support in a large gift or need that cannot be filled from one individual alone.

Another type of registry is the one you commonly think of at a store – a gift registry but one that is set-up for needs specific to those in their retirement years. A retiree may create a list at a single store such as Crate & Barrel or Target, or use a service such as MyRegistry.com which works with hundreds of stores to compile needs/wants in one place. These non-traditional registries do represent a ‘small but growing market segment’ according to Sue Miller, Vice President of MyRegistry.com.

While the idea of a registry for a retiree is somewhat controversial, we do find the message behind it very telling. First, retirement is now being seen as a celebratory and marked point in time – just as important as a wedding, new baby or new home. And giving credit and thought where it is due is something we can always get behind. Registry or not, that at least deserves appetizers and sparkling cider or a weekend getaway! Second, the concept that retirees sometimes need support that family alone cannot provide is a big one. Most of us would be happy to contribute what we could to an aging neighbor that needs a handrail or a widened doorway if we knew the need existed. Sometimes that hardest part of getting older is not being able to do it all or afford it all, and crowd-funding is one way that a lot of people can do a little and make a huge impact!

What are your thoughts on retirement registries and funding platforms? Do you know someone aged 50+ who could have been benefited form some help or support and did not know how to ask?

Read In Full: Retiring? A Gift Registry May Be in Your Future

All my best,

Bobbi

Bobbi Decker
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