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Retirement Planning and Retiring in Place July 24, 2008

Posted by retirementwithaplan in Uncategorized.
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This blog post originally appeared on another blog server on 03.19.08

Staying Put

A recent study done by the Royal Bank of Canada has uncovered the difference between thinking about life after a work and the actual place where that life will be lived.

It has been generally assumed that when the current wave of retirees leaves the workforce in the coming years, they will change the landscape. But surveys like the one listed here, offer another look at what may happen.

The majority it seems will be staying put, even remodeling their homes to make them more comfortable. Some of renovations will be major but in general, those changes will not be geared toward accommodating grown children.

These soon-to-be seniors are not necessarily looking for neighborhoods with populations of similarly aged cohorts. Instead, they amenities they seek – closeness to nature and perhaps even a water feature, proximity to activities and entertainment – preferably within walking distance and the emotional well-being that mixed neighborhoods provide in terms of vibrancy and security seem to be what the vast majority of future retirees will seek.

Sure, there are those who want to travel and even purchase second homes in their favorite spots, but the return to a home base seems to be growing. Not surprising, these “boomers” will also be eyeing a lifestyle that may exist on one floor and have the ability to entertain in house. The vast majority have also erred on the side of caution, hoping to have easy access to the necessary services associated with advanced age.



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