Financial planning for retirement village living: A qualitative exploration

Abstract

This Australian exploratory study investigates the financial considerations retirees experienced before moving into a retirement village. A qualitative content analysis was undertaken on the responses of 52 retirement village residents, who were part of a much larger study on retirees' accommodation choices in 2007. The respondents were grouped according to income, and the results were compared across the following groups (self-funded retirees, partpension retirees, and full-pension retirees). Differences between the groups extended beyond affordability. Both pension groups were more anxious about the increasing costs of maintenance fees than self-funded retirees, and the importance of pensions and superannuation was also discussed.