News That Matters

There's no place like home, and retirees say they'll renovate in order to stay

Sun Belt states such as Florida or Arizona may beckon some people in retirement, but fewer than you’d think.

Retirement Living, a website that aggregates retirement resources.

Moving to an assisted living facility is a last resort. Just 30 percent of people are willing to consider a retirement home.

In 2016, Pew Research found similar numbers, though fewer people were willing to consider an assisted living facility – just 4 percent.

The percentage of adults age 85 and older who live alone increased slightly between 1990 and 2014, to 40 percent from 37 percent. During that time, though, women age 65 to 84 became less likely to live alone.

Retirement Living polled more than 2,300 people age 50 to over 81 years old in September to find out how they plan on living as they age and how they’ll meet the challenges that come with aging in place.

One key to aging in place: adapting the home.

Nearly 75 percent of respondents said they’d make some sort of modification to their bathroom, such as adding grab bars and nonslip mats, or a walk-in tub. About a third said they plan on exterior changes such as wheelchair ramps and improved lighting.

Technology can also make it easier to stay home. Online pharmacies and medical alert systems have been around a while, but ride-share apps and grocery or food delivery service offerings are increasingly common. More than half of the survey’s respondents said they’re likely to order prescriptions online, and more than a third said they’d order food and rides through an app such as Uber, Lyft, Peapod or UberEats.

Let’s block ads! (Why?)

Personal Finance

Leave a Reply

Your email address will not be published. Required fields are marked *