Empty Nesters

Definition

• Individuals with grown children that no longer live in the same residence. For real estate purposes, empty nesters tend to down-size and purchase smaller homes when children move out.

Synonyms
older adult, 50+

Alternate Spellings
Empty Nest

Related Terms and Acronyms

• Active Participant — Definition,
  • Actively enrolled in an employer's retirement plan.
• Bedroom Community — Definition,
  • A suburb in which most residents commute to the city to work.
• Registered Retirement Savings Plan (RRSP) — Acronym, Canada, Very Important,
  • A savings plan introduced by the federal government to encourage Canadians to save money for retirement. The investment and the interest earned on it is sheltered: it will not be taxed as long as it is left in the plan.
  ➥ Tax deferred investment contribution used to reduce income tax.
• Reverse Mortgage — Definition, Important,
  • A loan that allows an older homeowner to convert built-up equity into cash. The loan comes due when the owner dies, sells the house or moves out.