Turns out the popular belief that retirees rush off to Florida immediately upon retiring is a widespread misconception. In reality, a significant number of retirees have no intention of vacating their current residences. According to a recent poll, two out of every five seniors are adamant that they will “never” leave their current homes.
A survey conducted with 2,000 Americans aged 65 and above exposes a different perspective, with 49 percent considering the idea of mandatory relocation in retirement as “outdated.” Furthermore, 41 percent of respondents have no immediate intentions of leaving their current abodes.
In the broader context of the survey, 95 percent of the participants are either already retired or have retirement plans. Within this group, a mere 29 percent acknowledge making or planning changes to their living situations following the conclusion of their careers.
One-third (33%) downsized their space, while others moved closer to family (28%), to a quieter area (28%), or to a warmer climate (25%). If given the opportunity to relocate, 29 percent would choose the Southern United States, while nearly the same number (27%) would prefer to remain where they are.
Why people want to stay put
A survey conducted by OnePoll on behalf of ClearMatch Medicare reveals that a significant majority of seniors, specifically three out of four, would rather reside in their own homes. This preference far outweighs the 11 percent who would choose an assisted living community and the 10 percent who would opt to live with family.
The primary motivations for seniors to remain in their homes include their ability to care for themselves (73%), the value they place on their independence (72%), and their satisfaction with their current residence (64%). Others appreciate the familiarity of their neighborhood (46%), their attachment to the local community (42%), and their reluctance to part with family (24%). Furthermore, some seniors express concerns about leaving behind friends (25%), local businesses (16%), and even their doctors (15%).
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Ben Pajak, the CEO of ClearMatch Medicare, highlights the evolving concept of retirement, stating, “Today’s seniors are redefining retirement, and their strong desire to remain in their own homes reflects a shift in what we thought traditional retirement to mean. The survey results underscore their determination to age in place, emphasizing the importance of independence, familiarity, and community connections.”
Upon retiring, 59 percent of seniors express a preference for pursuing their passions and hobbies, while 15 percent express a desire to continue working. However, this does not signify a lack of concerns. Two-thirds of seniors agree that adjustments encountered later in life are more challenging to adapt to than those faced earlier in life.
Concerns about retirement specifically include:
- Not having enough income (47%)
- Having too much free time (27%)
- Needing to be reliant on others (22%)Over one in five (21%) worry about
- Losing their independence (21%)
- Not socializing enough (19%)
- Being a burden on their family and friends (19%)
To combat those concerns, many seniors have retirement goals in place, including traveling (45%), visiting with family and friends (44%), exercising (39%), and even picking up a new hobby (31%).
“Many retirees are eager to embark on a new chapter filled with their passions and interests,” says Vice President of Sales and spokesperson Jennifer Girdler. “While there are concerns about the challenges that come with later life changes, it’s inspiring to see that seniors are proactively addressing these issues by setting retirement goals.”
