Healthcare sways retirement decisions

June 16, 2011 at 10:45 PM
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PRINCETON, N.J., June 16 (UPI) -- Most non-retired U.S. investors -- people with $10,000 or more to invest -- say healthcare cost is a major determinant of when to retire, a survey says.

The Wells Fargo/Gallup Investor and Retirement Optimism Index poll indicates 72 percent of non-retired U.S. investors say the cost of healthcare is a major factor when it comes to deciding when to retire, followed by 60 percent who cite being located near good medical facilities and 52 percent who say low state and/or local real estate taxes.

The importance investors place on access to healthcare in retirement may mean the quality of healthcare facilities is as important to them when they consider where to retire as good local schools are to parents when deciding where to live, Gallup officials say. Communities that want to attract retirees may want to consider a renewed focus on the quality and availability of local healthcare as a marketing point, the Gallup officials say.

The Wells Fargo/Gallup poll results are based on questions asked May 2-11 on the Gallup Daily tracking survey of a random sample of 1,099 U.S. adults having investable assets of $10,000 or more. The findings also include:

-- 93 percent say they own their own home and 75 percent say it is worth more than when it was purchased.

-- 80 say they have a mortgage, while 19 percent have paid off their mortgage.

-- 58 percent say their home is an asset that will help fund their retirement.

The survey has a margin of error of 3 percentage points.

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