Baby boomers are optimistic about living an independent, active lifestyle in retirement, according to a survey released by Better Homes and Gardens Real Estate Thursday.
The survey found that 57 percent of Boomers plan to move out of their current home and 70 percent believe the house they retire in will be the best home in which they have ever lived.
"With approximately 77 million Boomers in the U.S., it's quite significant for our industry to see that this population has so much positive anticipation for the home in which they will be retiring – and for the majority, their aspirations involve making a move," Sherry Chris, president and CEO of Better Homes and Gardens Real Estate, said.
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"Baby Boomers are known for being a hardworking, trailblazing generation. As they have done with every other major life event, they are marching head-on into retirement with big plans and no desire to change pace. Our study shows that Boomers continue to surprise with nuances of what they care about and what they are prioritizing."
Among Boomers who feel more confident about achieving their ideal retirement lifestyle compared to five years ago, the top factor is having a retirement lifestyle plan (49 percent).
"This mindset shows us that, for Boomers getting ready to retire, there's more to it than solely saving money in the bank," said Chris. "To have the utmost confidence in their retirement plan, this generation is actively planning a comprehensive lifestyle plan, taking into account the type of home and community they want to live in, as well as the option of continuing to work or taking advantage of travel and entertainment opportunities."
Approximately 1 out of 4 Boomers surveyed are also likely to buy a second home, such as a vacation or beach house, to use during their retirement years, such as a vacation or beach house, according to the study.
It showed that 39 percent would most likely move to a rural community, 27 percent preferred a traditional retirement community, such as a 55+ exclusive neighborhood, and 26 percent would opt for an urban community.
Seventy-two percent said they plan to retire in the same state in which they currently live.
The survey also found that 28 percent of respondents who are not yet retired plan never to retire, and 46 percent of boomers who do plan to retire still anticipate working part-time.
The nationwide survey of 1,000 adults ages 49-67 was conducted by Wakefield Research from Feb. 6-18. The margin of error is plus or minus 3.1 percent.
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