2023-12-24 23:00:00
Being able to live at home for as long as possible is very important for Austrians. A survey represents preferences.
Being financially secure in retirement and being able to stay in your own four walls for as long as possible: These two points are at the top of the wish list of many Austrians. This is currently shown by a survey commissioned by Engel and Völkers.
Wishes for retirement: Financial independence and living in your own home
According to the results of the survey, people between the ages of 50 and 75 want financial independence in their retirement and to be able to live in their own four walls for as long as possible.
Mental and physical fitness are naturally at the top of the list of intangible desires. When it comes to material wishes, after financial independence and security – for example in case of any need for care – the renovation of one’s own property comes next.
The confidence of the 50+ generation has been curbed
Many respondents cited a lack of financial resources in combination with current economic developments as slowing factors for the implementation of future plans in old age.
What is interesting in this context is that those aged 50 to 60 are particularly more afraid of financial difficulties in old age than older respondents. The fact that fears about the future are currently particularly high in the age group between 50 and 60 is also confirmed elsewhere. A survey conducted by Engel and Völkers in April of this year showed that negative associations in the 50+ generation have increased significantly, particularly in connection with the prospect of retirement.
Above all, there is the fear of health restrictions, serious illnesses and possible need for care. The current political upheavals also fuel a rather negative view of the future. In this context, 22 percent of those surveyed said they were afraid of war, and 14 percent feared a loss of assets due to inflation.
Old-age poverty: Homeowners are significantly more positive
In this context, the result seems understandable that homeowners generally seem to be less worried about poverty in old age than people who live in rent. The best way to finance plans or living expenses is through savings or using up your own savings. Asking your own children for support when you have financial difficulties is an option for very few people, nor is taking out a loan or selling your own property completely.
Stay in your own home as you age
More than half of those surveyed associate having their own house with protection and security. At the same time, for many people their own property is an important investment. In the survey, 61 percent stated that they definitely wanted to live in their own property for as long as possible. Only eight percent would consider moving to a smaller apartment and only four percent would definitely choose a senior living complex.
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