Baby boomers on the move
Whether it’s in the Sunbelt or the Rustbelt, a move across the street or across the nation, Baby Boomers are still willing to move to a new place when they retire, according to the 2010 Del Webb Baby Boomer Survey.
Today, Baby Boomers are even purchasing their home before they actually retire. According to the survey, nearly a third of older Baby Boomers plan to move in retirement, with more than 50 percent planning to move to a different state, about 25 percent planning to move to a different city within the same state, and less than 20 percent planning to move within the same city. Additionally, the desire to move during retirement is on the rise among today’s younger Boomers surveyed, with 42 percent of those turning 50 in 2010 planning to do so, as compared to 36 percent among 50 year-olds in 1996.
The Carolinas have emerged as the preferred destination for retirement, while perennial favorites, Florida and Arizona, remain top contenders, according to respondents. Among Baby Boomers looking to move, the most important factors in deciding where to relocate weighed heavily towards an area’s cost of living and access to preferred healthcare programs, 81 percent and 66 percent for the younger Boomers. Surprisingly, cultural and recreational amenities, as well as a more favorable climate, ranked higher than being close to family members.
Source: Real Trends