It’s not all about Florida anymore. A new USA Today article shares the results of a national survey, which points to the Midwest as the latest retirement hot spot. From Omaha, Nebraska, to Sioux Falls, South Dakota, these are the cities attracting seniors with things like low cost of living, the number of available doctors, and opportunities for work.
In the article, Paul Irving, the COO of the Milken Institute (who conducted the survey), sums up the shift this way: “The traditional notions about retirement, about pulling up stakes and moving somewhere warm, doesn’t really reflect accurately the notions of retirement in America. … Seniors are as complex and motivated as any other population.” In other words, seniors aren’t just choosing Florida for the warm weather.
Another area of the report indicated that university towns are also quite popular, as many aging retirees desire diverse opportunities for intellectual engagement and personal enrichment. To that end, the Boston area ranked fourth on the list. (As previous posts have indicated, senior living communities that offer lifelong learning programs are especially popular: read more here.)
New York and New Jersey made the cut, but the high cost of living is certainly a deterrent for many seniors seeking financial stability in retirement.
Read the full report here.