The cost of healthcare is a major determinant of when 72% of non-retired U.S. investors will stop working according a recent poll from Wells Fargo/Gallup Investor and Retirement Optimism Index.
Proximity also plays an important role, with 60% of non-retired investors saying that being located near good medical facilities is a major factor in determining where they will live in retirement. As Americans live longer, the cost and quality of the healthcare available to them becomes increasingly important, resulting in a strong tie-in between healthcare and retirement.
“Politically, this relationship tends to reinforce the notion that proposals to alter the healthcare system — whether they involve overall healthcare reform or new proposals to alter Medicare in the future — are the “third rail of American politics,” said Gallup. “In fact, the political heat may be hotter now than ever before, but that may make it even more important to address these issues. Such proposals are of major concern not only to those who are retired, but also to all Americans considering when and where they will retire.”
The survey also shows the importance non-retirees place on the value of their home and its uses for funding retirement. According to Gallup, 58% of non-retired investors see their home as an investment asset that will help fund their retirement. Of those, 42% say their home will help fund their retirement by providing them with a place to live and 39% say it is “an asset to sell to add to retirement funds.”
About one in three non-retired investors (31%) say they would consider renting throughout their retirement.
View a copy of the poll results here.