Photo: Finn Rindahl
Empty
nesters are enjoying better social lives, traveling more frequently, and having
more financial freedom.
In
a survey of 509 adults age 40 to 70, nine out of 10 empty nesters, defined as
those whose children have permanently moved out of the home, indicate they’re
happy and look forward to more social and personal time now that the kids are
gone. This age group includes baby boomers who are age 49 to 67.
The
top responses included:
- Having
more personal time, 95 percent.
- Lower
grocery bills and fewer expenses, 91 percent.
- Spending
more time with their significant other or dating, 85 percent.
- Going
on a dream vacation, 80 percent.
- Socializing
with friends, 80 percent.
- No
longer attending school-related functions, 68 percent.
Lend a hand, not a room
The
empty nesters surveyed were asked what they would rather do if their adult
child was facing a hard time with finances – help support them financially or
allow them to move back home.
The
answer? 68 percent said they'd lend their child financial support rather than
allowing them to move back home.
The
survey also showed that 70 percent have turned their child's room into another
room for personal use, including 34 percent as a guest room; 14 percent as an
office; four percent as a media room; and two percent as a storage room.
Savings inspired by wanderlust
No
longer budgeting for kids-related expenses, empty nesters are now saving for
"big ticket" items.
The vast majority of empty nesters in the survey, 78 percent, are saving for a trip
of a lifetime and/or more traveling.
Other
top mentions: 50 percent are saving for their children and grandchildren's
inheritance; 38 percent are saving for a sports car, boat, or other
recreational vehicle; and 21 percent are saving for a second/vacation home.
The
survey was conducted online by Russell Research as a Del Webb Baby Boomer
Survey for the national homebuilder PulteGroup
Inc.
