Virtual Retirement Villages offer a great new business model for Australian not-for-profit companies and charities who may have run out of ideas and face the prospect of collapse following government aged care funding reform.
At the core of these villages are concierge service referrals for members to enable them to find a whole range of services from household repairs to personal trainers and home care services. Most importantly, the villages foster social connections through group activities.
Virtual Retirement villages are popping up all over the USA. Currently, there are 140 villages, in 40 states, with 25,000 members, according to the Village to Village Network. Another 120 virtual villages are on the drawing boards, as more baby boomers reach retirement age.