Seniors Housing e-Source - 06/20/2005 (Plain Text Version)

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In this issue:
Building for Boomers & Beyond 2005 Highlights Big Changes for Active Adult Industry
Are You An Expert? Speakers Needed for 2006 Symposium
Bill Becker, Others Honored as Icons of the Industry
Merrill Lynch, Coldwell Banker: New Surveys Shed Light on Boomers, Retirement
Make Your Plans for NAHB's Fall Board Meeting
Universal Design — Satisfying A Growing Market
Around the Industry: White Housing Conference on Aging, Housing Bubble
Save More with BuilderBooks.com Rewards
Got A News Tip? Contact Seniors Housing e/Source

Merrill Lynch, Coldwell Banker: New Surveys Shed Light on Boomers, Retirement

Merrill Lynch recently released its "New Retirement Survey" that reveals how boomers view retirement and the coming decades of their lives. The survey, conducted for Merrill Lynch by Harris Interactive with collaboration by Age Wave, is the latest to show that boomers will continue to redefine retirement and impact the housing industry.

Among the interesting findings:

While 76% of boomers plan to keep working and earning in retirement, most expect to "retire" from their current job/career at around age 64 and then launch into a new job or career.
Around 65% of boomers will stop working for pay and retire in the traditional sense at some point. However, that phase is more likely to begin in the late 60s, rather than at age 60 or 65.
When asked about their ideal work arrangement in retirement, most boomers preferred to repeatedly "cycle" between periods of work and leisure (42%), while 16% plan to work part-time, 13% plan to start their own business, and 6% plan to work full-time. Only 17% of the respondents hoped to never work for pay again.
While 37% of boomers say continued earnings are an important reason to keep working, the majority (67%) say the continued mental stimulation and challenge is what really motivates them.
Boomer men and women have different ideas about retirement. The men look forward to working less, relaxing more, and spending more time with their spouse. Women see the empty nest and retirement as new opportunities for career development, community involvement, and continued personal growth.

Check out the press release for more information on the complete Merrill Lynch survey.

Meanwhile, Coldwell Banker recently released "The Baby Boomer Real Estate Survey," an online random sampling of 363 of the company's sales associates who market luxury homes. The survey found that affluent boomer home owners (ages 40-58) remain an upwardly mobile group that likely will be on the market for a new home purchase.

In fact, more than half of the boomers who purchased a luxury home through the company within the last two years told their sales associate they plan to spend fewer than five years in their current home. Around 86% of these buyers said they have purchased three or more homes throughout their lifetimes. Almost half said they have lived at their most recent residence for one to five years, while 65% made their most recent home purchases because they wanted bigger homes.

Check out the press release from Coldwell Banker for complete survey results.