Home Remains #1 Choice for Older Adults; Assisted Living Ranks Second

Receiving long-term care at home continues to rank as the number one preference for adults age 50 or older, but almost one-fifth said they would prefer an assisted living facility. 

The poll conducted by the Nationwide Retirement Institute surveyed 1,462 U.S. adults aged 50 or more years, all of whom are either retired or plan to retire within the next 10 years and have investable assets of $50,000 or more. In addition, 516 U.S. adults aged 50 or more years who are or have been paid or unpaid caregivers for family members or friends were polled. 

Highlights:

• Age in Place at Home: 74% of respondents said they would prefer to age at home. Of which, 77% of respondents had been retired for 10 or more years, 70% were recent retirees, 75% were future retirees, 76% were classified as affluent (those who have with investable assets of $150,000 or more), and 69% were classified as nonaffluent (those who have investable assets of $50,000 to $149,999).
• Assisted Living: Respondents listed assisted living as their second preferred location to receive long-term care. However, 18% of overall respondents indicated assisted living as their preference. Of which, 18% of respondents had been retired for 10 or more years, 22% were recent retirees, 16% were future retirees, 18% were classified as affluent and 20% were classified as nonaffluent.
• Family Member Home: 5% of overall respondents selected a family member’s home as their preference for receiving long-term care.
• Nursing Home and Adult Day: Each garnered 1% of overall responses.
• Assisted Living Insights: Overall, 30% of survey poll-takers said they expect to receive long-term care in assisted living, but the percentage was higher among those deemed affluent (32%) compared with those described as nonaffluent (23%). Also, expecting to live in assisted living were 32% of those who had been retired for 10 or more years, 35% of recent retirees and 26% of future retirees.

Full results here.

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