Most Retirees Don't Relocate

I always thought that when people retired that they moved to Florida, California, or Arizona to a sleepy little town that was warm and peaceful. Well, according to Market Watch, that doesn't happen much as most retirees don't relocate at all. And most of those who do stay in an urban setting.

However, I'm not totally wrong. Those who do move tend to relocate to quieter parts of urban areas. They also like warm areas of the country. Here are the main takeaways from the article:

Americans might envision the ideal retirement as involving a move to a small, slow-moving town in a warm climate, but most retirees don't end up relocating after all. In fact, even among those who do make a move, most usually choose to live in a major metropolitan center, loath to give up the cultural attractions and other conveniences that are hard to find in more placid settings.

A quieter part of a major metropolitan area anchored by a large city, often in a warmer climate, is a popular relocating-retiree choice. "Generally, people are moving from metropolitan counties where there are dense populations to other metropolitan counties that are less dense," said Ron Manheimer, director of the University of North Carolina's Center for Creative Retirement in Asheville, N.C.

Still, most retirees don't move. Over the five-year span, 76.1% of those 60 and older stayed put. Of the rest, 18.5% moved within their states, 4.6% moved to other states, and 0.8% moved abroad. "Some people think everyone moves in retirement. The vast, vast majority stay put," Manheimer said. "They have their friends and families, a familiar environment and their favorite places, or they may not be able to afford moving."

Retirement for us is decades into the future (at least 20 years, maybe 30), so it's hard telling what we'll do. However, we may consider moving to a foreign country like many have already done (and more will likely follow). I've posted about this issue several times and noted how people are moving to Mexico, Nicaragua, Cancun, Mexico, and another plug for Mexico. This may be a viable option for people who haven't saved a lot for retirement, but still want to live a good, relaxing lifestyle when they stop working.

Comments

[claire]

I'd love to move abroad in retirement, but I doubt my spouse would go for it. That just means I need to save more so we can have two homes--one in the US near family and a major research library so my spouse can do his historian thing, and one in central or south america for me to spend several months a year in.

[Blaine Moore (Run to Win)]

I would assume that if I could afford to do so, I would stay where I was. I like being close to family, and if you are happy where you are and the only thing that is changing is that you aren't holding down a 9 to 5, then why move?

Of course, I hope to have saved enough money by the time I retire to actually stay where I want to, as where I live now is not the cheapest place in the country to live...

[tk]

I think this idea people move to Florida is just another coporate sponsored myth. Florida is surprisingly very unfriendly to seniors with their tort reforms and it's actually the only state that has a law that makes it illegal to purchase a hearing aid from another state.

However, the few people who buys into the myth probably will make it seem like everybody is moving there. I mean if just 1% of senior in every state moved to Florida, that would be a lot of people.

[Hazzard]

I've thought about where I'd move to once I retire, but now that I have a child, I think that will play in to the decision drastically! I guess I'll just have to keep saving like I'm going to live in NYC.
Hazzard

[ap]

Having immigrated here as an adult, I cannot see myself retiring in a different country (I know how life is elsewhere). Since I already live in Florida, I might as well stay put.

[Inchoate Random Abstractions]

Several of my parents' friends have retired to Arizona. And my parents have talked about moving to CA, to be closer to my brother and extended family. But the cost of living is so high in the Bay area, that it's looking more and more likely that they'll either stay put or move back to the place that they emigrated from 33 years ago. Personally, family and friends mean a lot to me. I can't see myself wanting to move away from a close knit community at the age of 70 and having to build new friendships all over again.