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Article: Retiring Baby Boomers Move, But Pack Their Financial Woes with Them.
- Article from:
- PR Newswire
- Article date:
- December 10, 2002
CopyrightCOPYRIGHT 2002 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Retirement will bring a change of scene for many Baby Boomers, as many anticipate relocating or revamping their current homes, according to the second annual Allstate "Retirement Reality Check" survey. Whether moving on or staying put, many surveyed Baby Boomers expect home-related expenses such as a mortgage and home improvement projects to be big-ticket items that will take a bite out of their retirement savings.
Nearly 40 percent of those surveyed plan to move in retirement, with almost one-third (31 percent) doing so to downsize. Seventeen percent of surveyed Baby Boomers will move to be closer to family, while another 14 percent would like to move to a ...