Friday, January 07, 2011

When in doubt stick close to home

M&S Money has done some research into the intentions of the over-50s to either emigrate or spend their retirement on one continuous holiday.

It seems that ‘only' 10% of the UK's 50 to 70 year olds are actually considering upping and leaving Britain behind for good when they retire.

“Contrary to popular belief the majority (61%) of this age group has no desire to move overseas and prefers to holiday close to home or in an English speaking country… Their top five destinations are USA, France, Spain, Ireland and Italy. The only odd thing about this is that Australia isn't in the list.

I don’t find these conclusions that astounding. M&S makes great play of comparing its results to those of the Institute of Public Policy Research who in 2006 concluded that 8% of British pensioners were living abroad and made the the prediction that one in 20% of pensioners would retire overseas in 2050.

Surely nobody takes much notice of anybody or any organization that makes a prediction for 2050 – do they?

I reckon the figure of 10% looks about right. This still represents a massive hemorrhage of funds out of the UK. Just think that if 10% of older people sell their properties to live abroad what impact this would have on the housing market. Dick Stroud

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