{"id":13583,"date":"2018-06-05T13:13:21","date_gmt":"2018-06-05T13:13:21","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=13583"},"modified":"2018-06-05T13:13:22","modified_gmt":"2018-06-05T13:13:22","slug":"baby-boomers-plan-to-delay-retirement","status":"publish","type":"post","link":"https:\/\/www.anthonydidonato.net\/wordpress\/baby-boomers-plan-to-delay-retirement\/","title":{"rendered":"Baby Boomers Plan to Delay Retirement"},"content":{"rendered":"

Baby Boomers Plan to Delay Retirement<\/h1>\n
\"Baby<\/a>

Baby Boomers Plan to Delay Retirement<\/p><\/div>\n

The majority of working baby boomers ages 50 and over say they expect to delay retirement, according to a survey by The NHP Foundation, a nonprofit real estate corporation supporting affordable housing. The cost of housing may be one reason why.<\/p>\n

Prospective retirees say their top three concerns are an inability to afford quality health care (36 percent); dependency on children (28 percent); and being forced to choose a living situation inferior to their preference (22 percent), according to the survey. Eighty-five percent of respondents say they would prefer to stay in their current home, but many may be forced to consider renting a room or seeking out more affordable housing options.<\/p>\n

Older homeowners are carrying nearly double the mortgage debt than people their age a decade ago, according to data from the Consumer Financial Protection Bureau. The NHP Foundation speculates that this may be why a growing number of baby boomers plan to delay retirement. \u201cWith one in four in desperate need of affordable housing\u2014equating to 2,500 new retirees every day\u2014there needs to be a priority to create an adequate supply of affordable rental housing for boomers now and in the future,\u201d says Richard Burns, president and CEO of The NHP Foundation.<\/p>\n

Thirty-one percent of survey respondents say they have not prepared a retirement budget, and the majority have not budgeted for unforeseen health-related expenses. \u201cThere is a disconnect between baby boomers\u2019 current financial status and where they perceive themselves in retirement,\u201d Burns says. \u201cThis wishful thinking carries potential consequences that will likely have a large impact throughout all areas of the economy.\u201d<\/p>\n

Of an estimated 78 million baby boomers, about 10,000 reach retirement age each day, according to The NHP Foundation.<\/p>\n

Source: The NHP Foundation<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Baby Boomers Plan to Delay Retirement The majority of working baby boomers ages 50 and over say they expect to delay retirement, according to a survey by The NHP Foundation, a nonprofit real estate corporation supporting affordable housing. The cost of housing may be one reason why. Prospective retirees say their top three concerns are … <\/p>\n

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