New data from a survey conducted for TD Ameritrade shows that retirees are likely to change their living situation if they haven’t already. According to the investor pulse survey, 42 percent of Americans plan to downsize in retirement. Furthermore:
- 25 percent plan on moving to a warmer climate;
- 17 percent plan to move closer to family; and
- Just 6 percent plan on moving to a senior living community
Downsizing, or Rightsizing as I like to call it, does not necessarily mean moving directly from your home to a retirement community. Rightsizing may occur in phases. The first phase may take place as you become empty nesters, the kids get settled in their careers and start their own families. It may mean trading that 2,500+ sq ft home for a 1,500 sq ft home in your preferred location. The next phase may not occur for another 10-15 years and may involve considering a retirement community.
Right Sizing is a personal choice and decision. If you are weighing your options to “right size” your home, please feel free to contact me at (601) 421-7094 or dnelson@rightsizerealty.com
References:
Aging with Freedom (January 8, 2019). At What Age Should Seniors Downsize? Retrieved from: https://agingwithfreedom.com/2019/01/08/at-what-age-should-seniors-downsize/
Gyorfy, M. (February 2, 2018). Retirees Living Large by Going Small. Retrieved from: https://freshaccounts.amtd.com/blog-details/2018/Retirees-Living-Large-by-Going-Small/default.aspx