Housing and Community Retirement Preferences: are they Related to Anticipated Sources of Retirement Income?

Abstract

This study examines housing and location preferences and how these correlate with anticipated sources of income of preretirement respondents. Of these respondents, 77 percent expressed a preference for a detached, single-family house during their first 10 years of retirement. The recreational vehicle was the least preferred. Those who preferred to retire in more populous areas expected retirement income from more sources than those who chose small towns and rural areas. The number of income sources expected during retirement was related to current income. The relationship between financial planning and the number of anticipated retirement-income sources was of moderate strength. Essential parts of preretirement planning include assuring an adequate income and satisfactory housing over an increasing life-span. The complexities that exist among retirement income, housing, and preretirement planning may threaten the quality of life during retirement.

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Notes on contributors

Joan R. McFadden

Joan R McFadden is a Professor in Home Economics and Consumer Education at Utah State University.

Carole J. Makela

Carole J Makela is a Professor in Consumer Sciences at Colorado State University.