In a recent article on KCM Matters a trusted real estate related website and blog they used a term, “crossing the freedom threshold.” The term was coined in a Meryl Lynch study, “Home in Retirement: More Freedom, New Choices. ” In it they surveyed nearly 6,000 adults ages 21 and older about housing.
They found that Baby Boomers have always chosen where to live based on their responsibilities. This can be determined by commuting distance to work, school districts, proximity to family etc. But what they found is that at age 61 there is a major shift. With kids out of the house and either working part time/consulting there is a whole new sense of freedom about where Boomers decide to live. This is the pivotal moment when you cross the “Freedom Threshold.” They have a new sense of freedom to live where they want, not where they need to be.
Where Are Baby Boomers Going?
With this new found freedom, many Boomers are choosing to make major lifestyle changes. Some are choosing a destination they’ve enjoyed vacationing in, some are choosing college towns where there is access to cultural events (see The Baby Boomers Guide here for a full list of options). Some are upsizing to larger homes to accommodate family vacations. One thing you can be sure of, Baby Boomers will do “retirement” on their own terms.