Retirees Are Ditching Florida And Just Staying Put

old people beach

Photo: Flickr – doc(q)man

(MoneyWatch) The classic image of new retirees making a bee-line to Florida or the Sun Belt to live out their lives is sun-drenched comfort is increasingly a thing of the past.Among U.S. workers age 55 and older, almost two-thirds — 62 per cent — think that when they retire they will continue to live in their current state of residence, according to a survey by the Pulte Group, parent of Del Webb, a builder of adult retirement communities. That’s up 20 per cent from a similar survey taken just two years ago. 

One important reason for this shift is the redefinition of retirement, as more and more Americans move away from the traditional definition of “all play and no work” during their retirement years to start second careers or continuing to work in some manner. In fact, 50 per cent of the respondents to Del Webb’s survey report that they work part-time or are starting new businesses or careers. As a result, the builder is establishing more communities outside the Sun Belt states and close to metropolitan areas such as Chicago, Detroit, and parts of the Northeast.

The survey also shows that 43 per cent of respondents plan to retire and stay in the same city where they currently live; only 35 per cent plan to retire and move to a different state. Just 32 per cent want to live within 20 miles of their children or grandchildren upon retirement, again underlining many retirees’ interest in continuing to work.

“In looking at our previous studies, we found that there’s a group who do not want to leave their family, friends, and all the familiar surroundings,” says Deborah Meyer, senior vice president of Pulte Group.

Continue reading at CBS MoneyWatch>
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