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TheStreet Open House

Baby Boomers Keeping Their Eyes On The Retirement Prize

Stocks in this article: PHM

Survey Highlights - Retirement Intentions

  • 32 percent plan to retire in less than five years
  • 49 percent of respondents' expected age of retirement has not changed
  • 10 percent of respondents expect to retire at a younger age than originally anticipated
  • 27 percent believe they will be financially prepared to retire in less than 5 years
  • Only 12 percent of those who are delaying retirement say that selling their home and/or the value of their home is barrier to retirement 

Staying Close to HomeFor today's 80 million Boomers, the choices vary on where to spend their retirement years. Some consumers surveyed choose to stay in place in the city where they currently live; whereas others move to seek warmer climates, such as Arizona, the Carolinas and Florida.

In a significant shift, 62 percent of survey respondents think their home in retirement will be within the same state they currently live. This represents nearly a 20 percent increase compared to just two years ago when Del Webb asked the same question in the 2010 Del Webb Baby Boomer Survey.

"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," Meyer said. "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."

"Another key trend we've seen is the desire to continue to work. To better accommodate the work and play needs of Baby Boomers, Del Webb has opened communities near large metropolitan cities and employment corridors, better allowing customers to stay in place and continue to work," Meyer said. "With more than 50 percent of our Del Webb residents working part-time, starting new businesses or new careers, it's not surprising that they want to stay connected to their current community, but still take advantage of the active lifestyle at a Del Webb community."

Survey Highlights – Retirement Home Locations

  • 43 percent plan to retire in the same city where they currently live; 19 percent plan to retire within the same state, but a different city
  • 35 percent plan to retire in a different state from where they currently live
  • 53 percent will not take into account the proximity of their children/grandchildren when deciding where to live in retirement
  • 32 percent want to live within 20 miles of their children/grandchildren upon retirement

About the SurveyThe PulteGroup Home Index (PGHI) survey polled still-working U.S. adults age 55 and older to identify intentions as well as motivators and deterrents around retirement. The survey was conducted online by Russell Research from June 8June 11, 2012 among 500 adults 55 or older who have not yet retired. The study findings are projectable to the universe of online adults ages 55 and older who have not retired. At a 95 percent confidence level, a margin of sample error of +/- 4.4% applies to the sample. Figures for gender, age, and geography were weighted where necessary to match their actual proportions in the population.



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