Boomers relocate for retirement

Survey finds 31% will set up stakes more than three hours away from present home

A survey conducted by adult community developer Del Webb found that 59 percent of baby boomers aged 44 to 56 plans to relocate for retirement.

The Baby Boomer Report found that 31 percent would relocate more than three hours from their current location. Among the approximately 2.4 million baby boomers who'll be retiring by 2005, 7 percent of those planning to move are likely to consider an active adult community, defined as an age-restricted community for those age 55-plus.

In contrast, the 1999 Del Webb boomer survey found only 31 percent of respondents said they planned to move to another residence for retirement.

Conducted annually since 1996, the Baby Boomer Report reaches out to segments of the baby boomer demographic to record their opinions about retirement, fitness and a variety other topics. This year, more than 1,300 boomers nationwide who were either employed full time or seeking full-time employment completed the survey.

The survey also found that 43 percent plan to continue working in retirement, with 51 percent of them starting a second career and 37 percent working part time in their primary career.

The Del Webb Corp. is owned by Pulte Homes, based in Bloomfield Hills, Mich., which has operations in more than 44 markets across the United States.
 
 

This article is from the Thursday, June 19, 2003, Inman News Features