Where and How Retirees See Themselves Living

Over 80 percent of people aged 50 and over plan on living at home as they age, and 75 percent say that failing health would be a factor that would push them toward residence in an assisted living facility, followed by the loss of the ability to drive at 30 percent. This is according to a study conducted by the Retirement Living Information Center that surveyed over 2,300 adults in the relevant age range.

When asked where they plan on living as they age, 1,960 of the 2,352 individuals surveyed – 83.33 percent of them – responded “at home.” Some of the reasons offered by respondents include general familiarity with their homes, while also responding that places frequented like grocery stores and doctor’s offices are even more important to future living situations than being near friends and/or family.

To make aging in home easier, nearly 75 percent of respondents plan on making some kind of home modification to their bathroom, with the study’s accompanying statement offering that these could encompass small additions (like grab bars and non-slip mats) to larger home modifications (like adding a walk-in bathtub).

28 percent of respondents also said that making a modification to their bedroom was likely, with ramp access, improved lighting and the addition of an adjustable bed all being possibilities.

Respondents also demonstrated receptivity to incorporating technology into the process of aging, with the use of an online pharmacy service ranking likeliest among a range of options at over 53 percent. This was followed by the use of grocery/food delivery services (40.73 percent) and medical alert systems (39.12 percent).

While most people prefer to live in their own home as they age, assisted living facilities appear to be gaining traction with seniors as a viable alternative to their preference. A comparison between the results of this Retirement Living Information Center survey and a 2016 Pew Research Center survey of a similar nature reveals that preference for moving into an assisted living facility is on an upward trend, the study’s accompanying release noted.

This point is also in-line with another recent study highlighted by RMD in December, revealing that aging in place still remains seniors’ top preference, while also demonstrating that the idea of receiving care in an assisted living or continuing care retirement community is gaining traction.

Article by reversemortgagedaily.com