Will Boomers all retire to warmer weather to play golf? Freddie Mac asked nearly 6,000 55+ homeowners and renters about their future housing plans. Some Boomers plan to, particularly those living in the Northeast. However, grandkids trump weather in terms of relocation. In retirement, nearly 20 percent of Boomers said they would move closer to their grandchildren/children compared to 13 percent who said they would move to a warmer climate. Hopefully those grandkids don't live in New York City or San Francisco because half of all Boomer homeowners who would consider moving expect their next property will be less expensive.
But no matter if they retire to warmer weather to golf or to be closer to grandkids or stay put, the good news is the majority of Boomers are confident they'll be financially comfortable in retirement.
Today in Executive Perspectives, VP and Chief Economist Sean Becketti shares more findings from the Freddie Mac 55+ Survey.