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Health Care, Climate, Low Taxes & Housing Are Big Drivers of Where Baby Boomers Will Live after Retirement

Other considerations that are important to Boomers are the availability of diverse recreational activities and supportive senior services, arts and cultural opportunities, proximity to the beach and the availability of life-long learning educational experiences.

That's the picture painted by the first major survey in 10 years of retirement relocation preferences of the 78 million-strong Baby Boom generation, released today by the Consumer Federation of the Southeast. And it comes just as the first Boomers, born in 1946, reach the age of eligibility for full Social Security retirement benefits.

According to the survey, conducted for the Consumer Federation of the Southeast by Mason-Dixon Polling & Research, a full third of Baby Boomers are open to moving across state lines to find the assets they are looking for, including a mid-size town that welcomes a diverse population.

"Already, thousands of Boomers are retiring every day nationwide," said Walter Dartland, president of the Consumer Federation of the Southeast. "According to this survey, substantial numbers are interested in relocating in retirement. The decisions they make about where they will retire will have a huge impact not only on their families' finances but on the communities to which they move."

As the Boomer generation is so vast, a community need only attract three-tenths of one percent of relocating Boomers to add $1 billion per year in new income to its economy, creating jobs, new business and significant economic opportunities.

"This important survey, one of the most extensive of its kind in a decade, underscores the tremendous contribution that Americans aged 50 and older can offer to communities wherever they choose to live," said Jeff Johnson, AARP Florida's interim state director. "AARP Florida believes this research will help inform the efforts of many communities to better equip themselves to address issues important to a 50-plus population."

The Consumer Federation's survey of Boomers shows:

• Some 96 percent say top-quality health care services are "very" or "somewhat" important to them in considering a relocation destination.
• Affordable housing ranks second, with nearly 92 percent ranking that as a "very" or "somewhat" important criterion.
• A warm, welcoming year-round climate is "very" or "somewhat" important to 85.5 percent - but a strong plurality of this group want their warm summers to be paired with a few cooler months.
• Low local taxes are "very" or "somewhat" important to 81.1 percent.
• Eight out of 10 relocating Boomers are looking for affordable recreational opportunities in a relocation destination, and about the same number seek strong local services for elder care.

Also important to relocating Boomers are the size of the community (seven in 10 prefer a mid-size city or small town); arts and cultural opportunities (very or somewhat important to three in four); beaches or ocean nearby (very or somewhat important to about six in 10), and about half are seeking access to life-long learning educational opportunities. About half say a community that welcomes diversity is very or somewhat important.

• A large university is a plus for four in 10 Boomers willing to consider relocation.
• And, more than half (58 percent) plan to buy a house in their retirement relocation destination.

"This survey offers important insights into what is significant to relocating Boomers," Dartland said. "It underscores that for millions of Boomers who are considering relocating, good value, a welcoming community and thoughtful choices about their future are uppermost in their minds."

Almost 54 percent of respondents indicated that the weak economy was not delaying their retirement plans. But, about 36 percent of respondents said that the economy had delayed retirement.

Pollsters asked respondents to name - unprompted and with no suggested options - a state they might consider relocating to for retirement. About 18 percent mentioned Florida as a top relocation destination.

The survey, conducted by Mason-Dixon Polling & Research between Nov. 14 and 22, 2011, surveyed 1,100 Americans ages 47 to 65 who said they would relocate in retirement, were considering relocation or weren't sure. All respondents surveyed lived in the eastern half of the U.S., outside of Florida. The survey carries a margin of error of plus or minus 3 percent.

To view the poll results, visit:

www.consumerfederationse.com

The Consumer Federation of the Southeast (CFSE) is a not-for-profit consumer advocacy group founded in 2003 and dedicated to consumer advocacy in the Southeastern United States. Our goal is to establish a vigorous, new, pro-consumer agenda built upon public awareness, consumer education, and coalition-building.

For The Consumer Federation of the Southeast (CFSE)
Ron Sachs, 800-875-4301