Senior Baby Boomers Plan to Move for Retirement Years

Seniors in America are living longer than previous generations.  The large Baby Boomer population ranges in age from former presidents Bill Clinton and George W. Bush to Sandra Bullock and Russell Crowe (anyone born between 1946 and 1964).  This is a large generation and they are choosing to enjoy their retirement years a bit differently than the generation before them.  Both housing and senior care needs must be considered when planning for retirement.

Better Homes and Gardens Real Estate just released the results of their national survey indicating 57% of Boomers plan to move out of their current home to enjoy thier retirement years and as many as 70% of them believe the home they choose for retirement will be the best house they will live in.

Baby Boomers, it turns out, are very confident about enjoying a fulfilling retirement lifestyle.  This is the generation that lead the way with sex, drugs and rock and roll, so no surprise they are planning a fun retirement lifestyle.

Senior care costs, though, should also be factored into retirement plan.  Medicare does not pay for long-term care in the home nor in a nursing home.  The daily costs of nursing homes can be anywhere from $80 to $400 per day.  Check the costs of nursing homes near you as you begin your retirement planning.

Baby Boomer Retirement Plans from the Better Homes and Garden Real Estate Survey

• 77 Million Baby Boomers
• 1 out of 4 Boomers will buy a 2nd Home to Use During Retirement Years
• 31% Likely to Sell the Home They Live in Now
• More Confidence in the Real Estate Market than 5 Years Ago
• 57% Plan to Move out of Current Home for Retirement Years

The Better Homes and Garden Real Estate Baby Boomers Survey was conducted by Wakefield Research among 1,000 U.S. adults ages 49 - 67, between February 6 and February 18, 2014, using an email invitation and an online survey.  Quotas were set to ensure reliable and accurate representation of the U.S. adult population ages 49 - 67.

Research your senior care options for retirement to effectively budget for senior care costs.