Retirees Don’t Want to Move

The Home Equity and Retirement Income Planning Survey conducted by The American College of Financial Services reveals that 83 percent of those nearing or in retirement don’t want to relocate. Interestingly, the desire to remain in the current home increases as the individual nears retirement age: there is a fair amount of uncertainty between the ages of 55 and 62 but as retirement actually nears past the age of 62 the willingness to move decreases.

44 percent are willing to use home equity in retirement but only 25 percent are comfortable using equity as a source of income.

Reverse mortgages remain a mystery as only 30 percent have a basic knowledge of it’s details and only 14 percent have even considered a reverse loan.

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