Baby Boomers' Second Act

I recently came across this graph of the “Freedom Threshold” and thought it provided a great visual for what I’ve been telling my clients for years. The “Freedom Threshold” is the point where you no longer need to live somewhere for family obligations (say, a great school system) and can now live wherever you choose. - http://goo.gl/dySQnI

 The last waves of baby boomers are now moving into retirement age. Instead of setting trends in current fashion, the boomers are setting a new trend in retirement living. Unlike previous generations of retirees, today’s retirees are more active, more technologically savvy, and are seeking new adventures in their retirement…of which there are many in the Outer Banks of NC. Today’s 50+ adults are looking for relaxing locales that offer a low maintenance, high activity lifestyle where the hustle and bustle of work is replaced by the vim and vigor of fun and entertainment. Today’s boomers don’t limit themselves to the traditional stereotypes. According to a new study by Merrill Lynch, "Home in Retirement: More Freedom, New Choices", the majority of people approaching retirement feel free to choose where they most want to live. As people enter their 50s and 60s, they begin to cross what this study reveals to be the 'Freedom Threshold.'" That’s the age when people say they can finally choose where they want to live, according to the survey of more than 3,600 retirees.

Most retirees move at least once during retirement. But surprisingly, only half choose to downsize into a smaller home. Three in ten of retirees decide to upsize into a larger home. The top reason to upsize: They want to have a home that's comfortable enough for family members to visit and stay with them, according to the survey. "Retirees often find their homes become places for family to come together and reconnect, particularly during holidays or summer vacations," according to the report. Some choose to upsize so that family members can live with them too.

Additionally, retirees say the ideal place allows spending time with others their own age, yet they also seek to be around those of diverse ages. Compared to younger people, older Americans are far more likely to want diversity in age and generation among their communities and neighbors. As such, just 7% of retirees surveyed have opted to move into age-restricted retirement communities.

Enjoy your life, you only get one. Take chances, they don't come often. Don't ever live all your life wondering what could have happened if you made the move!