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by throw0101a
306 days ago
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> "Buy a home, pay it off, then downsize to generate funds for retirement" is a pretty widespread approach. [citation needed] > The majority of retirees don't relocate. A 2015 analysis (the most cited historical data) from the U.S. Census Bureau’s American Community Survey showed that only about 5% of Americans age 55 and older move annually (local or long-distance). […] > A more recent study, from Hire a Helper, showed that in 2024, only 22.7% of all retirees (both new and existing) moved, compared with 25.3% in the year before. * https://www.kiplinger.com/retirement/retirement-planning/myt... Lots of folks say they want/plan to downsize though: * https://www.usatoday.com/story/money/2019/05/21/home-buying-... And of the half that say they are moving, half (25% of total) "want their next home to be the same size as their current one, and 22% want it to be larger". |
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