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A recent report shows which cities retirement-age Americans are moving to for reasons ranging from economics to more sunshine. If you’re retiring soon, the report may be a great way for you to find your next destination.
Business insurance platform AdvisorSmith examined the U.S. cities that are luring the new residents aged 65 or older, based on data from the U.S. Census Bureau.
To find the cities where retirees are moving, the AdvisorSite segmented its analysis into large cities (defined as those with at least 250,000 residents), midsized cities (populations 50,000-250,000) and small cities (10,000-50,000 residents).
Here are some of the report’s key findings:
Although moving to a city with a lower cost of living is a great incentive for many retirees, cost isn’t everything — even to money expert Clark Howard.
That’s why he recommends that you test the waters before committing to a full-fledged move.
“One of my key rules is you should always rent first for six months, a year or even two years if you’re thinking about relocating for retirement. If it turns out that you don’t like it, at least you’re not all-in owning a home that you’ve now got to get rid of,” Clark says.
Let’s look at the cities where retirees are moving, in order of their popularity, according to AdvisorSmith.
Small Cities | Midsize Cities | Large Cities |
---|---|---|
Sun City, Ariz. | The Villages, Fla. | New York, NY |
Fortuna Foothills, Ariz. | Port St. Lucie, Fla. | Los Angeles, Calif. |
Green Valley, Ariz. | Scottsdale, Ariz. | Houston, Texas |
North Fort Myers, Fla. | Lakeland, Fla. | Mesa, Ariz. |
Oro Valley, Ariz. | Surprise, Ariz. | San Diego, Calif. |
Venice, Fla. | Cape Coral, Fla. | Phoenix, Ariz. |
Sun City Center, Fla. | Fort Myers, Fla. | San Antonio, Texas |
Apache Junction, Ariz. | Bonita Springs, Fla. | Philadelphia, Penn. |
Prescott Valley, Ariz. | Vancouver, Wash. | Chicago, Ill. |
Sun City West, Ariz. | Palm Coast, Fla. | Jacksonville, Fla. |
Moving from one city to another is a big deal. Clark wants you to consider how such a major life change will affect you.
“What’s so important for you to do is think of all the factors, starting with your personal life: family,” he says. “If you go move somewhere else and you’re 1,000 miles away … as much as you think about enjoying life, it could be lonely. Are you going to be able to make friends?”
Some other things to consider about a “new” city are:
This post was last modified on April 14, 2021 8:46 am
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