Previous expectations are challenged while retirees plan to stay in their home state
San Francisco, CA -- (SBWIRE) -- 10/04/2012 -- While in our early 20s and 30s we tend to envision our retirement consisting of vacationing and traveling the globe, a new study reveals that over 62% of retired individuals will plan to stay just in their home state.
The study was conducted by PluteGroup. Senior Vice President of the company Deborah Meyer stated, “In looking at our previous studies, we found that there’s a group who do not want to leave their family, friends and all the familiar surroundings”. She went on to say, “That’s why Del Webb established more communities outside the Sun Belt states and into four-season locations, such as Chicago, Detroit and the Northeastern states”.
The study also states that 43% of retirees plan to stay in the same city where they currently reside; 19% of that group plans to stay in the same state, but settle down in a different city. Only 35% plan to settle down in another state and 53% do not even plan to take the location of their family, in relation to their new locations, into account when they decide to retire. On the opposition are 32% of retirees who will take the proximity of their relatives into account when it comes time to decide.
Meyer stated, “The survey results seem to defy expectations that the economic slowdown of the past five years has forced many Baby Boomers to rethink their retirement plans.”
She went on to say, “Given the significant weakness in housing over this same period, we were surprised to see that only 12% of those respondents who are delaying retirement indicated that selling their home or the current value of their home is a barrier to retirement.”
The study also revealed that the economy is a major factor when it comes to deciding whether to migrate or stay in their hometowns when the time comes.
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