Retiring boomers want to keep their homes, poll shows

Staying in their own homes and paying for home care is the most appealing option for 83% of boomers heading into retirement, according to an RBC poll.

Read: Boomers risk straining finances to support adult children

This is followed by living in a retirement residence with care provided (50%), with both options ranking well ahead of the possibility of living with family members who could assist with home care (24%).

The annual poll also highlighted that, for those who are already retired, a decision to move out of their home was most often triggered by a change in health (66%) rather than for downsizing reasons, such as a need for less space (57%) or to free up financial equity in the home (36%).

Also read:

Health concerns trump finances for boomers: RBC

The slow-savings time bomb

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.