Retiring With A Roommate Could Make Life Easier

January 2023

Does this sound like an out-of-the-box idea? It worked for The Golden Girls, and in real life, it may have potential benefits for you, especially if you are retiring single or childless. You might even call it a trend. Data from the Joint Center for Housing Studies at Harvard University shows that during 2006-16, Americans sharing their homes with roommates nearly doubled to 1 million. With baby boomers retiring, that number has likely risen within the last several years.

Living with a relative, an old friend, or a new friend in retirement can be a plus emotionally. As we age, we become homebodies to a greater degree; we don't always have the energy or the incentive to go to this event or gathering. In such instances, having someone else at home means you still have conversation and socialization, which helps you ward off loneliness, which some researchers think factors into developing mental health issues late in life.

While the idea of retiring with friends may seem strange initially, you can see the benefits. Whether you are moving into a house together or taking on separate condo units in the same facility, bringing someone you know and whose company you enjoy can brighten your experience and make the transition less of a burden.³