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Boomers more likely to relocate in retirement: AARP 2010-02-04 A 2009 AARP study found that baby boomers are more likely than older generations to relocate in retirement. CNBC reported this week that some boomers are adamant about moving in retirement. A majority of boomers do plan to age in place - 79 percent, the AARP found - but the researchers observed a shift in the generation's retirement preferences. Eighty-three percent of older boomers plan to stay in their current home in retirement, while 76 percent of younger boomers say the same thing. And, said certified financial planner Jerry Lynch, a majority of near-retirees in his area (metro New York City) either plan to or want to move elsewhere in retirement. He recommends that people with the relocation bug "start looking at places where [they would] go on vacation, preferably somewhere [they] can buy a home at a discount." Good opportunities may be found in the Sun Belt states: Real estate data firm Clear Capital said last month that Las Vegas real estate prices are down 63.7 percent from their peak. South Florida, too, has many low-priced homes. And with the homebuyer tax credit in effect until April, now could be a good time to make a move.  |
