Boomers want to age in place, stay close to family, community during retirement

An IPSO survey commissioned by HomeEquity Bank shows that Canada’s aging baby boomers aren't moving out of their homes and into inner-city condos, as some pundits had predicted. Instead, the survey shows that 93% of people aged 65-plus say it's important to stay in their current home throughout their retirement, even though many of them are feeling pressured to sell their homes to help finance their retirement. Other findings from the survey include:

• Sixty-nine percent of those aged 65+ said maintaining independence is the number one reason why it is important to stay in their home during retirement;
• Fifty-one percent of people aged 75+ said it was important to stay close to family, friends and/or their community as a key reason to stay in their home during retirement; and
• Forty percent of the 75+ age group cited emotional attachments and memories as an important factor to stay in their home during retirement.