A quick scan of AARP showed that the West has the highest rates of elderly. One study found that most boomer plan to retire in place. They want to continue living in their homes, work part-time, keep their health plan and doctor, expect their kids to move in, care for their grandkids, and avoid the shuffle of a move.
In my extended family, I have seen the choices made depend on income. A retirement community choice is an upscale Del Webb community or a trailer park. Other choices are maintaining one’s home, moving in with one of the kids, or a combination of retirement living in a Southern state during the winter and returning home for the summer.
The elderly definitely prefer the hot climate. It is good for their bones, as well as their lungs. The ones who can afford it, stay in the South only in the cooler months, and go to their previous home in the hot summer.
I think Yuma is growing rapidly for this reason. It is pretty cheap.
I think this is worth researching. Money will follow the boomers.
The problem in the survey is that most boomers said they would remain in their homes. But how many have their homes paid off? Many took on additional loans…Many boomers thought they could sell their homes to fund their retirement. Talk about dashed dreams!
