So you are an empty nester. What now?
36% of Baby Boomers move or say they will move once they become “Empty Nesters”. Another 55% say they will move once they retire. Of the Boomers who will move or will consider moving, 36% or about one-third will move more than three hours away. Upon retirement, that number climbs to 51%. Now, why is that? Are you willing to move three hours away from your community and family? I’m here to tell you you don’t have to.
What will you do? Have you ever thought about what might be next? Don’t think for a second you are alone. The baby boomer generation makes up a substantial portion of the world’s population. Representing nearly 20% of the American population. One-fourth of the U.S population (over 66 million) people may be currently dealing with this. Baby boomers are those born between 1945-1964, thus making them 73-54 years old.
Of these 66 million people who had kids, their children will most likely be out of the house by now. But, we aren’t finished just yet. Generation X consists of people born from around 1965-1980, making them anywhere from 53-38. Even though they are a smaller generation, they still account for around 63 million. Some of Generation X may also be empty nesters, or they will soon enough. So, you obviously are not alone. The best thing you can do now with this knowledge is do something about it. Make a plan! Set it in action. Don’t be another hopeless case.
A University of Utah professor mentions a thing called “Empty Nest Syndrome.” “..as soon as the kids leave the house, there’s a lot of grief, loneliness with the parents. And that’s very common.” He goes on to mention statistics showing a surge in couples age 50 and up divorcing. Experts say the trigger is often related to when their adult children leave home.
Now we are not wishing or predicting divorced, stress or depression onto anyone. These are just the facts. “the reality is that years spent raising kids often turn parents into very different people than they were when they first got married. Couples discover they have nothing in common, and their children were the glue holding them together. They can only relate to each other in their roles as mom and dad and not as romantic partners.”
As sad as it sounds, it happens. Strikingly often in fact. But of course, this isn’t always the case. Other side effects of empty nesters are heavy maintenance. With the kids gone, more housework is often put onto the parents. Along with this, empty nesters are getting older. Bodies begin to not work the same. The seemly easy staircase may soon become the death of you. The outside yard work may have to be passed down to a yard service company. Gas, electric, and other utilities may seem reasonable for a full house of kids. Unfortunately now, the bills may start to seem a little unnecessary.
Long-term upkeep costs are dependent on the condition your home is currently in. If you live in an older house, there may be many home improvement projects coming your way. For those of us concerned with future maintenance costs in an older home, selling your house now might save you time, money, and hassle in the long run. Smaller homes are also usually associated with lower maintenance costs. If you buy a home brand-new now, you won’t have to be concerned about current or future maintenance costs at all!
Housing costs are usually the most expensive thing we have in our spendings. One of the best things an empty nester can do is downsize. Generally speaking, moving into a smaller and more reasonable sized home will save you a lot of money. Consider selling your current home and using the profits to purchase an entire home or perhaps even a luxurious condo. You could have extra money to spend on whatever you’d like! Additionally, many monthly costs including gas, electric, and water will dramatically shrink with a smaller home. Saving you even more additional money!
Fortunate to you and fortunate to most, there is something easily accessible to you to help this empty nester “situation” you may have found yourself in. As I mentioned earlier it’s called downsizing. Which this may sound like a negative thing, but trust me it’s far from. Demand for homes is constantly rising, yet homebuilders don’t have the ability to keep up.
Coincidentally, this is great news for empty nesters! Why? Find out on my post.
Ready To Downsize
36% of Baby Boomers move or say they will move once they become “Empty Nesters”. Another 55% say they will move once they retire. Of the Boomers who will move or will consider moving, 36% or about one-third will move more than three hours away. Upon retirement, that number climbs to 51%. Now, why is that? Are you willing to move three hours away from your community and family? I’m here to tell you you don’t have to.
What will you do? Have you ever thought about what might be next? Don’t think for a second you are alone. The baby boomer generation makes up a substantial portion of the world’s population. Representing nearly 20% of the American population. One-fourth of the U.S population (over 66 million) people may be currently dealing with this. Baby boomers are those born between 1945-1964, thus making them 73-54 years old.
Of these 66 million people who had kids, their children will most likely be out of the house by now. But, we aren’t finished just yet. Generation X consists of people born from around 1965-1980, making them anywhere from 53-38. Even though they are a smaller generation, they still account for around 63 million. Some of Generation X may also be empty nesters, or they will soon enough. So, you obviously are not alone. The best thing you can do now with this knowledge is do something about it. Make a plan! Set it in action. Don’t be another hopeless case.
A University of Utah professor mentions a thing called “Empty Nest Syndrome.” “..as soon as the kids leave the house, there’s a lot of grief, loneliness with the parents. And that’s very common.” He goes on to mention statistics showing a surge in couples age 50 and up divorcing. Experts say the trigger is often related to when their adult children leave home.
Now we are not wishing or predicting divorced, stress or depression onto anyone. These are just the facts. “the reality is that years spent raising kids often turn parents into very different people than they were when they first got married. Couples discover they have nothing in common, and their children were the glue holding them together. They can only relate to each other in their roles as mom and dad and not as romantic partners.”
As sad as it sounds, it happens. Strikingly often in fact. But of course, this isn’t always the case. Other side effects of empty nesters are heavy maintenance. With the kids gone, more housework is often put onto the parents. Along with this, empty nesters are getting older. Bodies begin to not work the same. The seemly easy staircase may soon become the death of you. The outside yard work may have to be passed down to a yard service company. Gas, electric, and other utilities may seem reasonable for a full house of kids. Unfortunately now, the bills may start to seem a little unnecessary.
Long-term upkeep costs are dependent on the condition your home is currently in. If you live in an older house, there may be many home improvement projects coming your way. For those of us concerned with future maintenance costs in an older home, selling your house now might save you time, money, and hassle in the long run. Smaller homes are also usually associated with lower maintenance costs. If you buy a home brand-new now, you won’t have to be concerned about current or future maintenance costs at all!
Housing costs are usually the most expensive thing we have in our spendings. One of the best things an empty nester can do is downsize. Generally speaking, moving into a smaller and more reasonable sized home will save you a lot of money. Consider selling your current home and using the profits to purchase an entire home or perhaps even a luxurious condo. You could have extra money to spend on whatever you’d like! Additionally, many monthly costs including gas, electric, and water will dramatically shrink with a smaller home. Saving you even more additional money!
Fortunate to you and fortunate to most, there is something easily accessible to you to help this empty nester “situation” you may have found yourself in. As I mentioned earlier it’s called downsizing. Which this may sound like a negative thing, but trust me it’s far from. Demand for homes is constantly rising, yet homebuilders don’t have the ability to keep up.
Coincidentally, this is great news for empty nesters! Why? Find out on my post.
Ready To Downsize
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