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Shooting Down Another Retirement Myth

Last update on: Feb 02 2017
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One of the common beliefs about retirement is that after stopping work people migrate to warm weather states such as Florida and Arizona. A lot of people do that, but they’re in the minority. The bulk of retirees stay in the same states and even in the same counties where they lived during their careers. The latest evidence of this is a report from AARP. It found that about nine out of 10 Americans over 60 stayed in the same home after retiring.

When they do relocate, retirees tended to downsize within the same state. Only about 24% moved, with 9 percent moving outside their county of residence and only about 4.5% crossing a state line when they moved.

“What drives migration are amenties, such as weather, recreational activities, low crime and low taxes. A secondary factor is that there are family members in some proximity,” says Prisuta.

This report bolsters what I’ve been saying for some years. A minority of Americans move in retirement. Enough move to be good for Florida and Arizona. But most stay where they are, because social and family ties are more important than weather to most people.

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