• SOURCE: Burson Marsteller

The Downsize Surprise: New Study Finds Retirees Living in the Best Homes and Some Even Going Bigger



.mp3 Audio Package
ANCHOR LEAD: There's good news for the millions of baby boomers who are transitioning into retirement… many are experiencing new found freedom to move into the homes, neighborhoods and communities of their dreams. Brian Osuch has the story. (:60) SCRIPT: Newsbreak, I'm Brian Osuch. It's called the "Freedom Threshold" – a time when people in their late 50s and 60s with fewer work and family responsibilities are free to choose where to live. A new Merrill Lynch study, finds 2/3rds of retirees say they're living in the best homes of their lives. Financial Gerontologist for Merrill Lynch, Cyndi Hutchins… CUT: (Hutchins) By age 61, the majority of people feel free to choose where they most want to live. Achieving your dream home in retirement requires preparation. Whether moving or staying put, it's important to carefully consider expenses associated with current goals and future priorities, including potential challenges in later years. SCRIPT: Believe it or not, the study finds half of retirees did not downsize in their last move and 30 percent of retirees are moving into larger homes. Age Wave CEO, Dr. Ken Dychtwald… CUT: (Dychtwald) The top reasons for upsizing were to have a home large enough for family to visit or even live with them. They want to turn their empty nest into a nurturing nest. SCRIPT: For more on the study, visit ml.com/retirementstudy. That's Newsbreak from Merrill Lynch.
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