Some of the biggest retirement planning mistakes occur because pre-retirees believe common myths and rules of thumb that often are featured in the media. Most of these retirement platitudes do not stand up to basic research or investigation. Yet, unknowing retirees follow them, believing these practices already have led many to retirement bliss. In fact, for many people these myths will reduce the quality of retirement.

Retiree living or housing choices have been a subject of some of the premier and enduring retirement myths and led many astray.

The image of retirement many have is that the typical retiree chooses one of two routes. One route is to sell the home, pack up, and move to Florida, Arizona, or some other sunny clime. The other route is to keep the pre-retirement residence but spend at least a couple of months each winter in one of the sunny retirement spots.

In truth, only a minority of retirees take either route. Few retirees make significant moves in retirement. Many that do move later decide they made a mistake and move again. Most retirees either stay in their pre-retirement homes for at least the first five years of retirement or they downsize to a smaller home in the same area, often in the same ZIP code. Only a minority move out of the same county after retiring.

Now, a new retirement living myth is being spread. The emerging myth says that the Baby Boomers will change traditional retirement housing choices (both the real and mythical choices). It is projected that the Boomers will move to urban areas in retirement. The thesis is that the Boomers yearn for a return to their youth. They want to escape boring suburbs and large homes to live in compact enclaves in which they can walk to shopping, entertainment, and recreation. They also want to live in close community with people of similar ages and interests. The argument concludes that the Boomers will move to downtown locations to satisfy these goals.

Several real estate developers are building luxury high rises in downtown areas and marketing them to those 55 and older, or at least they were before the financial and housing crises. City government officials and urban planners want to encourage this point of view, because fewer services need to be provided to families without children.

As with the other retirement myths, this one is based on anecdotes rather than data.

Joel Kotkin, a senior fellow at the New America Foundation, pointed out in the Wall Street Journal that decades ago it was assumed as adults the Boomers would live either in the cities or in rural areas rather than suburbs. It was believed that the Boomers would rebel against their parents' lifestyles. Instead, the Boomers closely emulated their parents by settling in the suburbs for their adult years. The only difference was that the Boomers tended to move to the outer suburbs and into larger homes.

Kotkin believes that only wealthy Boomers and a few others will migrate to downtown areas in retirement. The 2000 census shows that every year less than 2% of Boomers even cross state lines when they move. He cites another survey to assert that when Boomers move they head to the suburbs or areas beyond the suburbs, not to cities.

The Mortgage Bankers Association found that retiring Boomers still are suburban oriented. About 80% of those over 50 move from one suburban home to another. About half of city dwellers moved to the suburbs. Another study of affluent Boomers found that two thirds want to stay in the suburbs and 14% prefer to move to a rural area. The Boomers report that they are seeking safe neighborhoods close to outdoor recreation. If possible, they also prefer to be near their children, grandchildren, churches, and other associations.

A study by the Praxis Strategy Group found that few people 55-64 move from the same area they had been living in, and those that do tend to move from high cost, crowded urban areas (San Francisco, New York, Los Angeles, Boston) to less expensive, more sprawling areas such as Charlotte, Las Vegas, and Phoenix. Rural areas also are popular among those who move. Within major metropolitan areas, the trend is for Boomers to be more likely to move from the urban core to the suburbs.

Kotkin points out that many Boomers plan to continue working after "retirement" and a high percentage of them will work at least part time out of their homes. That is difficult to do in a small condo or apartment. Also, the Boomers grew up and spent most of their adulthoods in suburbs so it will be difficult for them adjust to city living.

The Boomers are more likely to move to communities that provide a small town feel but are close to suburban amenities. Such communities are being designed specifically for aging Boomers. In other cases, existing communities are being converted to enclaves for aging Boomers either deliberately or by unplanned trends.

Boomers planning their retirement should not feel they will be left out or be unusual if they do not move in retirement. They should ignore the media attempts to hype certain lifestyles. These reports are based on anecdotes and the promotional materials of developers. Each retiree should determine the lifestyle he or she desires. Otherwise, you will make a very expensive mistake by moving to a place you do not like. The truth about retirement housing choices is not as interesting as the media presents it. Most retirees decide they want to stay near the relationships and activities they developed over the last few decades. Keep that in mind when you are considering where you will live in retirement.

Bob Carlson is editor of the monthly newsletter Retirement Watch and the web site www.RetirementWatch.com. He also is author of the books The New Rules of Retirement and Invest Like a Fox…Not Like a Hedgehog.