Many seniors who live in retirement communities thrive, but the vast majority of people who can live at home tend to be happier, regardless of life expectancy. While costs are a concern, the availability of medical care at home is the biggest factor. Who among us isn't more comfortable at home?
I this growing world of uncertain ideas, it is very smart to stay in the home that you already live in. Most of the homes are already paid for and you know what the issues of the home are already. I would rather stay in my home as I get older, than to go into a facility to take care of me.
The baby boomers who decide to stay put in their homes after retirement are making smart financial decisions. The economic crisis of 2008 and its subsequent slow recovery has caused the nest eggs that the boomers had accumulated to shrink dramatically. Boomers had to often use these nest eggs to stay afloat when their incomes shrank substantially, or because of loss of value in their investments. With decreasing home values, the amount of equity in their homes has also shrunk to lower levels. With overall lower funds available during retirement, moving out of their current homes will only make it more difficult for baby boomers to manage their finances, thus it would be smart for them to stay put in their current homes.
Why would it be smart for them to stay in there homes? Yes now with technology and the income some of them make, it is easy to stay home. And with the growing gas prices and lack of buyers of travel vehicles with the recession, one can understand why they should stay home. But ultimately, they should do what they want.